The greedy rich owe their ill gotten gains to three factors

[Dinner]

Corporations only engage in rent-seeking behavior because of the government regulation in place. Just as you can argue that corporations will engage in evil acts, I can argue that the reason that they do is because their natural ability to grow legally is stifled by government regulations, so they will seek other ways to compete.

Look at the illicit drug market as an example.

Yeah, Wall St can regulate itself so we can deregulate or just not regulate things like MBSs and CDSs. I mean that turned out sooo well the first time.

[Wiglaf]

I suggest everyone in this thread (except my progeny) stop what they are doing, jerk off, and then read Albert Nock's "Our Enemy, The State."

[Dinner]

Is it a work of fiction like Ayn Rand's lame crap?

[Arrian]

Have we established the identity of this particular troll yet?

-Arrian

[Kidlicious]

#1) Staying in school.
#2) Working longer hours.
#3) Living in two income households (wife and husband both work)

Those greedy bastards! How dare they use these methods to get rich!

http://rightwingnews.com/mt331/2009/...ncome_ineq.php

You conveniently forgot trust funds. How convenient for you.

[Kidlicious]

Why do you hate the rich?

Did you know, most of society's biggest innovators, smartest minds, greatest philanthropists, and your precious left-wing politicians are rich?

Why do you hate America?

Why are you so far up their asses?

[Patroklos]

Right wingers like claiming that all one needs to be rich is work hard,

Thats funny, I have always heard it as "work hard AND smart."

Most people who are rich were born that way.

Source? And what is your scale?

[Patroklos]

You lose in the ballpark of 30k to 40k to taxes, depending on how your deductions work out. So, perhaps 65k in net income. Then, your mortgage; average person in that range has a house of maybe $300k, 15 year mortgage at 6% works out to maybe 25k a year in house payments

Is anything even closely approximating the "average" person taking 15 year mortgages these days?

[Guynemer]

Incidentally, there's another problem with "stay in school, work hard," etc.

I averaged 70-80 hours per week the first three years after I finished school. So don't tell me I didn't (or don't currently) work hard.

But school is expensive. On top of mortgage, car maintenance, malpractice insurance, etc., I pay a grand a month in school loans.

If it were just about staying in school and working hard, Galnemer and I would be rolling around on a pile of ****ing gold.

[Kidlicious]

Here's the real reason why people are rich.

1) Deals that they made (bought the right companies or stock)

2) They know how to talk (kiss ass, con people)

3) They were already rich

[Elok]

Well, if you and the missus were rolling around on it, I guess you could call it "****ing gold." But what's the diff between that and regular Au?

[pchang]

Your tax estimate is too high.

You lose in the ballpark of 30k to 40k to taxes, depending on how your deductions work out. So, perhaps 65k in net income. Then, your mortgage; average person in that range has a house of maybe $300k, 15 year mortgage at 6% works out to maybe 25k a year in house payments, so you have 40k left over, then (family of 4, say) $12k in food, $28k left over; health insurance takes a couple grand, utilities take a couple grand, cable a couple grand, clothes a couple grand, and you're down to around $20k. Car costs you maybe $5k a year, so $15k ... $5k goes to retirement account, so $10k ... yeah, not particularly rich here. Having around $10k in 'extra' income is nothing.

Maybe $25,000 total between Fed and State goes to taxes (including SS and Medicare). It grows slowly from there. Someone in the $250,000 with AMT pays about a combined Fed and State income tax of 31%. (varies according to state and does not include sales and property taxes).

[DanS]

If it were just about staying in school and working hard, Galnemer and I would be rolling around on a pile of ****ing gold.

You will be. It takes 5 or 10 years to unwind from college poverty, given no support from a trust fund. For me, at year ~ 7, I noticed that I had turned the corner and that I was no longer impoverished.

[Theben]

I suggest everyone in this thread (except my progeny) stop what they are doing, jerk off, and then read Albert Nock's "Our Enemy, The State."

What if we are currently jerking off?

[pchang]

Tmi

what if we are currently jerking off?

tmi