Now that we Amis have a nice tax cut, how to reduce spending to cover it?

[Defiant]

Or third Sava, the Republicans believe that, the money you make should be yours to spend.
Look, I don't like anyone losing money in their 401K, it is your hard earned money and you will need it someday. But most 401K's now let you diversify where you want, and that is the way it should be. Where I work here, we had smartasses running around when the NasDaq was around 5,000 saying to me how dumb I was for not jumping on the high risk ventures like Janus 20, but to me the Nasdaq grew too fast too much, c'mon delivering grocieries in Chicago via internet at the same price as if you went to the store, doesn't even come close to good business sense. Something had to give and in the Spring of 2001 it did and it crashed like a turd. Those same asses that were saying how dumb I was now were telling me how they lost an equivelent of a house in their 401K.
Then on 9-11 we took another hit to the financial status of America. BTW, welcome to the Presidency President Bush and this all happened in his first year hardly the one to blame. I think Greenspan has done an excellent job, this could have been alot worse.

[Sava]

the money you make should be yours to spend

I think it's more... the money we ("we" being the elite) should be allowed to spend our money... the middle class should pick up the tab.

[Defiant]

I am of the middle class and I believe I pick up more than my share of the tab but I also believe we, (United States) spend way too much money in the gov't and if we cut costs we can all win. The rich do pay the most in taxes, income or otherwise so it is only fair they get a break and hopefully they will invest, jobs created so on and so forth. They got rich somehow, hopefully not handed down from daddy but through business they will want to continued to work and create jobs.
If you look at the individual millionaries in Congress and or serving public office, I think you will find more of them are Democrats now, so who really is for the common man?

[chequita guevara]

Originally posted by Defiant
They got rich somehow, hopefully not handed down from daddy but through business they will want to continued to work and create jobs.

90% of the rich were born that way.

[Defiant]

I can list a ****house full of football players that were not.

[Sava]

hopefully not handed down from daddy

you're talking about our president

If you look at the individual millianaries in Congress and or serving public office, I think you will find more of them are Democrats now, so who really is for the common man?

I'm not a big Democrat supporter. They are the lesser of two evils. I think you are probably correct. But I bet the Dem's have more self-made wealth, whereas the Republicans are a "good old boys club" of inherited wealth.

I'd rather see more small businesses and people working for themselves rather than working for someone else or a big corporation. And let's be honest... looking at the Reagan cuts, and the Bush 2001 cuts, they haven't created any jobs. But look at Clinton's 1993 plan and the jobs that were created between 93-98.

Forgive me for being a simpleton, maybe there are other factors out there, but I'm a cause and effect thinker. I see a cause, I see an effect, and I form an opinion.

[chequita guevara]

Originally posted by Defiant
I can list a ****house full of football players that were not.

They fall into the 10%.

[Defiant]

Lets just make sure it is the right cause to the effect.
Don't forget that big business boom was part of the .com's and responsible for the crash of 2001.
In all honesty, Clinton's economic advisors should have warned him that those business's will not survive.

You are absolutely right, it would have been nice if Jr. would have taken the millions daddy gave and created a business, not just buy an existing one but create a new one with new jobs. But if I made millions and wanted to leave it to my daughter, that should be my right.

[Defiant]

All the football players, hockey, basketball, baseball, golf and every other end of high end sports, only 10%, you wouldn't happen to have a source for this now would you.

[Arrian]

Hey, I took a hit on my 401(k) too - most people did - but I view it as a long term investment, and am not particularly concerned. And I sure as hell don't blame the Republicans for it.

I do place some blame on government in general (both parties) for failing to have a SHRED of fiscal responsibility, but apparently that would make you unelectable, so I'm up ****s creek with that one.

-Arrian

[Dinner]

Originally posted by chegitz guevara
90% of the rich were born that way.

Where did you read that? I some how remember the book "The Millionare Next Door" showing studies that the vast majority of millionares in this country are first generation millionares. The estate tax is so large that we don't have a vast number of second, much less third, generation wealthy people running around.

[Dinner]

An amazing fact: 80% of millionaires are first generation millionaires; they have made their money on their own, in their lifetime. ...

http://www.teleclassinternational.com/articles/stevemattos.html

... people who believe most wealth is inherited and "you can’t make it in America
today," eighty percent of America’s millionaires are first-generation rich. ...

http://www.profitadvisors.com/millionaire.shtml

[Defiant]

Those numbers I am more likely to believe.

[Lawrence of Arabia]

Sell and privitize the USPS
Cut military spending by $100 Bn
Cut all foreign aid to developed countries (such as israel, germany, france, england and this includes military aid)
Cut all corporate subsidies, tax breaks etc.
Lower tariffs (this means goods cost less so americans have more money and can buy more)
Legalize all drugs (60% of criminals in jail are in because of drug related crimes. If all of those guys are released, overcrowding wont be a problem, nor will paying $20,000 a year per prisoner because there are 60% less of them, nor will the cost of guards, and facilities since we can tear some of them down)

Does anyone know how much this will save?

[Dinner]

The average American millionaire makes $95,000 per year, he lives in a home worth $325,000, he is married with two kids neither of which live at home with him, he has never been divorced, his wife is most likely working part time but stayed at home when the kids were young, the two most commonly owned cars are a Ford Thaurus and a Toyota Camery, he wears a suit he bought off the rack at Sears, his kids went to public school but his grandkids go to privite school, about half owned their own company while the other half worked for someone else, and the average American millionaire has a bachelor's degree from a state school.

What's the big common factor between all of these millionaires? They save, save, save. that's right these guys are frugal, they clip coupons, there car is 5 years old on average, and they tend to think of things in a long term fashion ("Where do I want to be in 5 or 10 years" verses "Where do I want to go on vacation next month").