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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1967152  
Subject: If all the 1%ers closed their doors Date: 10/10/2012 1:08 PM
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and shuttered their windows and stopped doing business. How long do you think it would take for new entrepreneurs to step in and take their place?

I mean we have this group of rich folks who started on their trek to make their fortune when tax rates on income of all kinds was much, much higher now whining that they will close up shop if required to pay a couple of extra percent in taxes.

LET THEM!

America is about people seizing opportunities and their leaving might create the biggest opportunity this country has ever experienced.

BTW, they ought to be taxed like any other ex-pat who moves their assets offshore as well.

Poz
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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822954 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:14 PM
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I mean we have this group of rich folks who started on their trek to make their fortune when tax rates on income of all kinds was much, much higher now whining that they will close up shop if required to pay a couple of extra percent in taxes.

Agreed.

Start with the TBTF banksters, the Wall St. crooks and the Federal Reserve.

They should be paying taxes at about a 90% rate, since they reap 90% of the benefits in our rigged system.

;-)

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Author: 99lashes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822956 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:24 PM
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Try that with brain surgeons, or other efforts that require a long term determination and effort, let alone capital and see what kind of collapse you have.

Not to say a few of these folks cannot be replaced, but all of them and at once?

Talk about naive....sheeesh.

99

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822963 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:43 PM
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Try that with brain surgeons, or other efforts that require a long term determination and effort, let alone capital and see what kind of collapse you have.

You have smart brain surgeons knowing that nowhere else in the world would they make so much as right here in the good ole US of A.

Talk about naive....sheeesh.

Yes, we have been naive to be held up by what, in effect, is a ransom note: "Keep our taxes low (and lower) or we'll leave!"

Any negotiator knows you don't win by giving the hostage takers what they want. You win by playing the game better than they do.

RICH WHINERS.....LEAVE.....see how soon they'd come crawling back to where they never had it so good.

Poz

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Author: jah609 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822964 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:44 PM
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<<<<They should be paying taxes at about a 90% rate, since they reap 90% of the benefits in our rigged system.>>>>

Envy is an ugly emotion.

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822967 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:46 PM
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Envy is an ugly emotion.

So is unbridled greed.

Poz

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Author: cjb44 Big funky green star, 20000 posts 6 Year Anniversary! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822968 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:47 PM
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How long do you think it would take for new entrepreneurs to step in and take their place?

______________________

A long time. If there was someone ready to take their place they would. Remember when everyone owned a Palm Pilot? Apple destroyed the PDA market. Then Google came out and replaced Apple (operating system that is)...Did McDonald's and Burger King remain the only fast food chains? No, new ones are popping up frequently.

How about Warren Buffet? If anyone could do what he did they'd also be 1%ers...Joe Schmo can't do that. What about doctors and lawyers? You think someone can just jump in and take their place?

If the 1%ers were to leave, there wouldn't be anyone to take their place.

The exception would be Congress where everyone is a 1%er. I think we could survive if all of them retired today, same with the President.

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Author: eatenbybears Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822969 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:48 PM
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Actually, after available deductions, 1%ers were taxed at 34.0 percent in 1960, 36.1 percent in 1970, 37.6 percent in 1980, 31.5 percent in 1990, 35.7 percent in 2000 and 31.3 percent in 2004

Those in the top 0.01 percent of the income distribution, the effective tax rate was 71.4 percent in 1960, 74.6 percent in 1970, 59.3 percent in 1980, 35.4 percent in 1990, 40.8 percent in 2000 and 34.7 percent in 2004.


And then, it all depends upon the type of income

http://www.politifact.com/truth-o-meter/statements/2011/jun/...

Bears

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822979 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 1:59 PM
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A long time. If there was someone ready to take their place they would.

I doubt it. Remember there is a big difference between trying to wrest a business away from someone and just stepping in and filling a need that suddenly isn't being filled. The highly skilled would just migrate here from other parts of the world if we couldn't fill the spots internally.

These 1%ers have just too high an opinion of their value to America. They forget that Americans pull together in crisis. We'll just create a new set of 1%ers that will be more than happy to pay an extra percent or two for the opportunity to amass that kind of income and wealth.

Americans don't begrudge the wealthy of either their income nor their wealth, they begrudge the sense of entitlement that these folks have about "I've got mine and I will not pay one dime more to the country that allowed me to amass it" Even though they were paying higher taxes when they started out on their road to fame and fortune.

Poz

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Author: SGIZ1 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822990 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 2:11 PM
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FYI

Its not patriotic to raise other peoples taxes.

Its not patriotic to take property from others.

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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822994 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 2:17 PM
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Envy is an ugly emotion.

When speaking about the banksters and their cronies, it ain't envy - it's resentment and anger.

Resentment and anger that their captured Washington minions bail them out and then change the rules so that the giant sucking sound pulls all the little people's money into the same coffers.

Give me free money to deposit and then pay me interest on my deposited reserves and I'll be quite content with the system.

Equal protection under the law. 14th Amendment, US Constitution.

Of course, to get that sort of equality one would have to be incorporated as a bank.

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Author: cjb44 Big funky green star, 20000 posts 6 Year Anniversary! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822995 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 2:20 PM
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We'll just create a new set of 1%ers that will be more than happy to pay an extra percent or two for the opportunity to amass that kind of income and wealth.

______________

There's your problem. You think someone created the 1% out of some program. That's not so...and you'd be surprised how many people will change their mind about paying excessive taxes after they start pulling 90 hour work weeks to get where they are.

Another problem is you correctly believe that someone would be happy to take the place of a 1%. Everyone would love to have a seven figure job, but that's something you have to earn. Nobody is giving you a seven figure job because you want it. You need to earn it.

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Author: 99lashes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822996 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 2:21 PM
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Yes, we have been naive to be held up by what, in effect, is a ransom note: "Keep our taxes low (and lower) or we'll leave!"

Take a look at the jobs that get moved to "more friendly" locations, business that move for overhead reduction reasons out of state (like California) or out of the country.

If you tax it enough, they will leave. That is for sure. The question is how much do you need to take from those that earn to give to those who don't work, yet yearn?

99

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Author: notehound Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1822997 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 2:23 PM
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Of course, to get that sort of equality one would have to be incorporated as a bank.

"...when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you… you may know that your society is doomed."*

That is what we have with the Washington-Wall Street cabal.



*Quote excerpt courtesy of rubberthinking on METAR

http://boards.fool.com/a-comment-on-our-banking-masters-3031...

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823037 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 3:43 PM
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There's your problem. You think someone created the 1% out of some program. That's not so..

Sure it is, it's called Capitalism.

That's not so...and you'd be surprised how many people will change their mind about paying excessive taxes after they start pulling 90 hour work weeks to get where they are.

You'd be surprised at how many people are already working 80 and 90 hour weeks with no hope of getting anywhere close to 7 figures total earnings for their lifetime. I met one just yesterday when I took my 100 year old mother to the hospital. We used Valet parking and the young man has been working there for quite some time, very polite, remembers our names the whole bit. I got a chance to talk for a minute with him and he told me he also has a night job because he has a family with 6 kids.

I've never claimed that (most) of the 1%ers didn't earn it, I'm claiming that they are whining about a tax rate that is actually lower than when they started out and they worked hard knowing that the marginal dollars would be taxed higher. Now, even after a proposed raise in the tax rate they would still be paying less and they're crying and saying they'll close their businesses.

Again, LET THEM....we don't need whiners as an example of what "making it" in America looks like.

Poz

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Author: SGIZ1 Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823040 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 3:50 PM
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Liberals say it with me

"its not my money, its somebody elses, i have no right to someone elses money"

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Author: cjb44 Big funky green star, 20000 posts 6 Year Anniversary! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823042 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 3:56 PM
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I've never claimed that (most) of the 1%ers didn't earn it, I'm claiming that they are whining about a tax rate that is actually lower than when they started out and they worked hard knowing that the marginal dollars would be taxed higher. Now, even after a proposed raise in the tax rate they would still be paying less and they're crying and saying they'll close their businesses.

___________

It's actually a higher tax rate, but you're looking solely at income taxes and not all of the other hidden taxes, like the ones listed in ObamaKare...throw in the cost of compliance with new regulations and you're looking at a much higher number.

That's the old liberal trick...hide the taxes. Look at your phone bill or look at the price of gas pre-tax. Most people have no idea how much they really pay in taxes.

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Author: xLife Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823050 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 4:06 PM
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...and shuttered their windows and stopped doing business. How long do you think it would take for new entrepreneurs to step in and take their place?

What makes you think a significant portion of the 1% are entrepreneurs, running a businesses or are currently producing anything?

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823170 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:27 PM
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"and shuttered their windows and stopped doing business. How long do you think it would take for new entrepreneurs to step in and take their place?"


Probably as long as you can say "China will buy the assets and the PATENTS and create a million jobs in China".....



t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823173 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:33 PM
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"<<<<They should be paying taxes at about a 90% rate, since they reap 90% of the benefits in our rigged system.>>>>"


Yeah, right..they drive 1000 times more cars, have a house that needs 1000 times more fire fighters and police just standing by......need 1000 times the water and electricity and rights of way for cable TV.....

gotcha...

and they need 1000 times the national defense to keep their wives and kids from being raped by islamo terrorists.....

and need 1000 times the amount of student aid for their kids...oops, no, they pay full freight....and also likely donate millions to their alma mater....

well, you libs can't win them all.

Actually, you can win any of them, since you have WEALTH ENVY.

Worse, you don't understand the difference between INCOME,which you can tax, and net worth, which you cannot.

The rich can simply sit back, invest in tax deferred and tax free vehicles.....rake in megabucks, and pay not a dime or very few dimes in taxes. Legally. Or invest in real estate, take the depreciation, invest in oil/natural gas or farming, and take all the write offs they are entitled to...and pay next to nothing in taxes.


Duh!..

Silly libs and their wealth envy.

Just watch to what is happening in France with theirnew 75% tax rate. The 'richest' guy in the country applied for citizenship outside France and will move. THe top 100 earners have their homes up for sale, planning to move out of the country by next year when the tax takes effect. Businesses won't expand and are saying so. They are expanding elsewhere, but not in France.

Go watch Atlas Shrugged Part II - opens this Friday...to see what libs do...nationalize....strangle...tax to death...... (or just watch France as it self destructs - but that will take a few years).


t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823176 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:39 PM
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"Americans don't begrudge the wealthy of either their income nor their wealth, they begrudge the sense of entitlement that these folks have about "I've got mine and I will not pay one dime more to the country that allowed me to amass it" Even though they were paying higher taxes when they started out on their road to fame and fortune."


Likely NOT


Most start ups take next to no pay for the first years.

Zuckerburg lived like a hippie.....never spent money.....only on growing the business....no fancy cars....no fancy vacations.....

even now that he is a bazillionaire....he's not spending money like no tomorrow.....

Steve Jobs? Lived in a run down place he didn't take care of.....you think income really mattered to him? But if it weren't for him, Apple wouldn't be around today. Yeah, he died 'rich'.....

They pay all the taxes required. Not a dime more. Even BUffet COULD pay more but doesn't. Same for Omama.....

Geez.....you libs...Obama spent 50 billion of our borrowed Chinese dollars.....to prop up GM because he didn't want those jobs to disappear. Duh, with your logic others would have quickly stepped in......well, why did Obama bail them out, you libs?



t.

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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823177 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:43 PM
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99lashes wrote: Try that with brain surgeons, or other efforts that require a long term determination and effort, let alone capital and see what kind of collapse you have. Not to say a few of these folks cannot be replaced, but all of them and at once? Talk about naive....sheeesh.

No kidding. The mortgage industry can't even ramp up fast enough when interest rates hit rock bottom lows, let alone the rest of the country's entrepreneurs.

However, I think it's a good idea. They ought to all go on strike at the same time and let the country see how "you didn't build that" feels then.

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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823179 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:45 PM
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PosFCF wrote: Americans don't begrudge the wealthy of either their income nor their wealth...

The hell they don't. And we can thank Barack Obama for constantly hammering on "the rich...the rich...the rich..." for the deep division this country "enjoys" today.

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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823182 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 8:49 PM
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telegraph wrote: They pay all the taxes required. Not a dime more. Even Buffet COULD pay more but doesn't.

That's right, and he's not gonna, no matter how much he touts the Buffett Rule.

I don't give a flying fig about Mitt Romney's wealth or how he got it. If he passed muster with the IRS, he passes muster with me.  We can assume the IRS is fine with his taxes because he's not in prison for tax evasion. The ONLY THING I care about is J-O-B-S and the economy, which are both a mess under Obama's watch.

"Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes.  Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands." 

Learned Hand (1872-1961), Judge, U. S. Court of Appeals in the case of Gregory v. Helvering 69 F.2d 809, 810 (2d Cir. 1934), aff'd, 293 U.S. 465, 55 S.Ct. 266, 79 L.Ed. 596 (1935)

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Author: FKJacobs Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823194 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 9:11 PM
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I am sure the 1% from China and Europe would be happy to step in....

Besides some of the 1% actually want to have the law changed to pay more taxes...

I do not think they are a very united bunch...

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Author: eatenbybears Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823195 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 9:14 PM
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Besides some of the 1% actually want to have the law changed to pay more taxes...

Law dont need to change ... if you want to pay more, you pay more .... no problem


Bears

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Author: 99lashes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823236 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/10/2012 10:48 PM
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You'd be surprised at how many people are already working 80 and 90 hour weeks with no hope of getting anywhere close to 7 figures total earnings for their lifetime. I met one just yesterday when I took my 100 year old mother to the hospital. We used Valet parking and the young man has been working there for quite some time, very polite, remembers our names the whole bit. I got a chance to talk for a minute with him and he told me he also has a night job because he has a family with 6 kids.

So just what is your point? This guy made a choice to have 6 kids and all that comes with that.

My oldest daughter is working 60+ hours a week and still can't pay her bills. She is single, no kids but a dog. I remind her that was what a good college education was to help with. That is what she did not take advantage of and this is the price one pays for the rest of their lives. It is her choice.

99

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Author: CCinOC Big funky green star, 20000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823388 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 12:43 PM
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Quoted: I got a chance to talk for a minute with him and he told me he also has a night job because he has a family with 6 kids.

Probably smokes like a chimney, too. Why is it that poor people more often than not have an expensive habit like smoking?

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823390 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 12:49 PM
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Probably smokes like a chimney, too. Why is it that poor people more often than not have an expensive habit like smoking?

I love how in one sentence you make an unsupported assumption, and in the very next sentence you're using that assumption as if it were a fact, and basing more assumptions on it.


Frydaze1

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Author: LurkerMom Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823409 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 1:42 PM
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Probably smokes like a chimney, too. Why is it that poor people more often than not have an expensive habit like smoking?

I love how in one sentence you make an unsupported assumption, and in the very next sentence you're using that assumption as if it were a fact, and basing more assumptions on it.


Frydaze1

______________________________________

to quote you...

I love how in one sentence you make an unsupported assumption, and in the very next sentence you're using that assumption as if it were a fact, and basing more assumptions on it.

snip
"While it was established long ago that smoking rates are higher among the poor, a Gallup survey released on Friday suggests there is a sliding scale: smoking decreases as income increases.

The poll, based on interviews with more than 75,000 Americans this year, also indicated that Americans are thoroughly worldly when it comes to lighting up — they smoke at almost the same rate as the worldwide median. A 2006 poll concluded that 22 percent of mankind smoked; 21 percent of Americans smoke, according to today’s count."

http://thelede.blogs.nytimes.com/2008/03/21/american-smokers...

recent articles...
snip
"The low-income now spend twice as much of their earnings on cigarettes as they did in 2003, when the state imposed a tax of $1.50 [compared to the current $4.35 tax] on each pack."

http://thinkprogress.org/health/2012/09/21/888921/low-income...

snip
"The poorest smokers in New York spend almost a quarter of their household incomes on cigarettes, and they also smoke more than wealthier people, a new study suggests."

http://www.takepart.com/article/2012/09/20/poorest-new-york-...

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823417 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 1:59 PM
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LM,


Your data shows that more poor people smoke than non-poor. It also says things about the amount of money that poor smookers spend. It does NOT support his statement that ...poor people more often than not have an expensive habit like smoking?

It's an easy logic mistake to make, and I'm not going to harrass you for it. But let me break it down differently for you so you can see why the statements are different.

You data shows the equivalent of:
More of the children in school A choose strawberry milk over chocolate milk than do the children in school B.

The numbers might be:
School A
Strawberry milk 10%
Chocolate milk 90%

School B
Strawberry milk 15%
Chocolate milk 85%


His statement was:
Most of the children in school B choose strawberry milk over chocolate milk. This would require that strawberry milk choices were > 50%

I hope that helps.


Respectfully,
Frydaze1

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823419 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 2:01 PM
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Sigh...


Please switch the statement to:
More of the children in school B choose strawberry milk over chocolate milk than do the children in school A.

The rest stays the same.


tiredFrydaze1

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Author: PosFCF Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823424 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 2:09 PM
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Just for the record, the gentleman I was speaking to did not smoke. As an ex-smoker I can smell smoke on clothes, in empty rooms where someone just passed with a cigarette, etc.

This gentleman was also clear-eyed, well spoken, with non of the typical signs of drug use/abuse......just in case another strawman argument be made by someone who never met the guy.

Poz

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823428 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 2:13 PM
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Why is it that poor people more often than not have an expensive habit like smoking?

And to continue that trend of thought...

Various economic groups have their different spending trends that cost more than their means would support. For the poor it might be smoking. For the middle class it might be shopping, new houses, and new cars. For the wealthy it seems to be mistresses, mansions, and drugs.

No class is immune from it. And they all look pretty silly to anyone who isn't drawn to those particular luxuries. No doubt the poverty level smoker is laughing at the pop star who is trying to sell his 4 houses and file bankruptcy.


Frydaze1

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Author: N56629 Big funky green star, 20000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823434 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 2:28 PM
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"Try that with brain surgeons"---99

You hear that folks, surgeons have move up to the 1%. Who knew except 99?

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Author: LurkerMom Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823441 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 2:39 PM
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The origional poster said, " Probably smokes like a chimney, too. Why is it that poor people more often than not have an expensive habit like smoking?"

You replied,
"I love how in one sentence you make an unsupported assumption, and in the very next sentence you're using that assumption as if it were a fact, and basing more assumptions on it."


And now you say, "It's an easy logic mistake to make, and I'm not going to harrass you for it. But let me break it down differently for you so you can see why the statements are different." and followed with what flavored milk analogy school children drink.

What part of my links backing up the op 'poor people more often than not have an expensive habit of smoking' don't you understand?

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Author: decath Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823470 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 3:55 PM
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RICH WHINERS.....LEAVE.....see how soon they'd come crawling back to where they never had it so good.

Poz


The only people I see whining are sissified liberals who don't have what it takes to succeed on their own so they attempt legalized theft from the government.

BTW, if and when the producers of wealth leave this country, it will become a sesspool of socialism like Europe. Ya that's what we want. To be like the 'entitlement' weenies in Greece.

Every time I read a post from the 'best of' from the PA, I get these mental images of the Obamaphone girl and the "Obama is paying my mortgage' welfare idiots.

decath

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Author: MadCapitalist Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823486 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 4:48 PM
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and shuttered their windows and stopped doing business. How long do you think it would take for new entrepreneurs to step in and take their place?

I mean we have this group of rich folks who started on their trek to make their fortune when tax rates on income of all kinds was much, much higher now whining that they will close up shop if required to pay a couple of extra percent in taxes.

LET THEM!

America is about people seizing opportunities and their leaving might create the biggest opportunity this country has ever experienced.

BTW, they ought to be taxed like any other ex-pat who moves their assets offshore as well.

Poz


LOL. This is hilarious. Yeah, that's all that is holding the non-1%-ers back -- lack of opportunity because the 1%-ers took all the opportunities. Lack of initiative or ability isn't holding them back.

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823488 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 4:50 PM
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What part of my links backing up the op 'poor people more often than not have an expensive habit of smoking' don't you understand?

LM,

Just to make it easy on you, try your first link:
http://thelede.blogs.nytimes.com/2008/03/21/american-smokers...

In none of those income brackets is the number of smokers greater than 50%. Therefore the statement that "poor people more often than not have an expensive habit of smoking" can't possibly be true, since more often than not members of each group do NOT smoke.

Your links don't say what you are claiming they say. I tried very hard to help you see where your logic failed. Please try reading my prior post without the chip on your shoulder before you reply again and compound your error.


Respectfully,
Frydaze1

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Author: eatenbybears Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823490 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 4:56 PM
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Smoking / Income

This may help. 2009, but interesting

http://www.gallup.com/poll/117214/Cigarette-Tax-Affect-Low-I...


Bears

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823495 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 5:04 PM
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Smoking / Income

This may help. 2009, but interesting


I don't know if your link was intended to help me or LM. Or help me explain it to LM.

Certainly more low income people smoke than high income. I don't disagree with that statement at all. As I said, different income brackets have different trends of stupid purchases they can't afford. Among my age bracket it seems to be bigger houses, new cars every couple of years, and new clothes every few weeks.

But "more smoke than don't" can't be true, unless more than 50% smoke. And in none of the brackets, even the lowest, is that the case.


Frydaze1

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Author: lowstudent Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823502 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 5:26 PM
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LOL. This is hilarious. Yeah, that's all that is holding the non-1%-ers back -- lack of opportunity because the 1%-ers took all the opportunities. Lack of initiative or ability isn't holding them back.
______________________

Rather scary isn't it?

I did notice it earlier, but it as just so dumb I knew there could be no possible way to get through to its' author.

The only reason that anyone does not get ahead is because someone else got ahead. Remove the folks that got ahead and the problem goes away.

It is not uncommon among the left to believe this apparently.

It is just hard to imagine the combination of brain dead and childish jealousy that it takes to be willing to admit to these beliefs.

It appears that Obama buys into this as well BTW, except of course for politics where some are simply irreplaceable. It is one of the many reasons I question the claims of Obama's intellect being above middlin'

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Author: LurkerMom Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823511 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 5:52 PM
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just to make it easy on you

You know, I really have to laugh when trolls such as you drop their feigned smart a$$ remarks. It's what you do every time you think you have something to contribute here. Either get to the point or don't waste my time. Your grade school swipes are a bit stupid and laughable. Remember, you are at the asylum where posters of your ilk are a dime a dozen with stupid droppings.

try your first link

The first link clearly shows the lower the income the more smokers compared to higher income earners.

from the 1st link
"While it was established long ago that smoking rates are higher among the poor, a Gallup survey released on Friday suggests there is a sliding scale: smoking decreases as income increases"

Your links don't say what you are claiming they say. I tried very hard to help you see where your logic failed. Please try reading my prior post without the chip on your shoulder before you reply again and compound your error.

I suggest you take a reading comprehension course. Each link clearly points out lower income earners smoke more than higher income earners.

from the 2nd link
"The study acknowledged that low-income populations tend to have higher percentages of smokers,"
from the 3rd link
"The poorest smokers in New York spend almost a quarter of their household incomes on cigarettes, and they also smoke more than wealthier people, a new study suggests."

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Author: LurkerMom Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823513 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 6:00 PM
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Certainly more low income people smoke than high income. I don't disagree with that statement at all.

____________________________

Oh, sleight of hand, sleight of words. good fake out.

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823514 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 6:04 PM
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You know, I really have to laugh when trolls such as you drop their feigned smart a$$ remarks. It's what you do every time you think you have something to contribute here. Either get to the point or don't waste my time. Your grade school swipes are a bit stupid and laughable. Remember, you are at the asylum where posters of your ilk are a dime a dozen with stupid droppings.


You've got a serious chip. I wasn't being a smart a$$. I really was trying to help you, nicely, to see where you're wrong. But you can't get past your paranoia long enough to actually read it.


Each link clearly points out lower income earners smoke more than higher income earners.

Yes. They say that. They do NOT say that there are more smokers than non-smokers among any income bracket, even the lowest ones.


I suggest you take a reading comprehension course.

I'm not the one with reading comprehension issues. These two sentences do not say the same thing:
1) 'poor people more often than not have an expensive habit of smoking'
2) 'poor people more often than wealthier people have an expensive habit of smoking'

The first sentence is the one you keep trying to defend:
What part of my links backing up the op 'poor people more often than not have an expensive habit of smoking' don't you understand?
http://boards.fool.com/the-origional-poster-said-quot-probab...

The second sentence is what your links prove, which no one was denying anyway.

The sentences aren't the same. They aren't even close.



Frydaze1

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823515 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 6:06 PM
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LM,

You're wrong. Stop doubling down on it. Please.


Frydaze1

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Author: LurkerMom Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823520 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 6:48 PM
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You've got a serious chip. I wasn't being a smart a$$. I really was trying to help you, nicely, to see where you're wrong. But you can't get past your paranoia long enough to actually read it.

You got your swipes in and now I know where you are coming from. No paranoia on my part. I'm quite use to your ilk. Too bad you couldn't discuss in a civil manner. It might have been interesting.

Oh, and you forgot your respectfully sign off bit...

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Author: Frydaze1 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1823524 of 1967152
Subject: Re: If all the 1%ers closed their doors Date: 10/11/2012 6:56 PM
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You got your swipes in and now I know where you are coming from. No paranoia on my part. I'm quite use to your ilk. Too bad you couldn't discuss in a civil manner. It might have been interesting.


I was civil the entire time. And there were no swipes. It seems that you're taking any disagreement with you as a swipe. Because there's been nothing uncivil in anything I've said to you.



Oh, and you forgot your respectfully sign off bit...

I didn't forget anything. I had signed that way to emphasize that I *was* intending my post to be taken as respectful. You've chosen not to, regardless. So there's no point in saying it anymore.

So back to the subject: can you see where you misinterpreted your links as saying something different from what you claimed they said?



Frydaze1

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