What It Takes to Be Rich: Methodology

taxes

people in texas dont pay state taxes there for they should pay more federal taxes teachers dont work 12 months out of the year and get paid for 12 month quit complaining

tom of MN @ Jun 29, 2009 19:33:21 PM

Linda Abshier of TX

Why tax the rich, then it is coming from a Texan and a typical Republican in the State of Texas. Please tax the rich more.

Jeff of TX @ Mar 12, 2009 08:07:01 AM

Penalize the RICH

Why should the wealthy be penalized with high taxes? Many business owners have started their own companies/businesses. Why should they be penalized for making money the old fashion way---they earned it!

Another problem with the Federal/Social Security programs.

In Texas most of the public schools do not contribute to the Social Security---but Texas educators are mandated to contribute to the state retirement program--TRS(state). Many Texas educators moonlight at 2nd jobs to help make ends meet and have some "extras" in their households. Texas educators are penalized for moonlighting-----because they cannot collect the full benefits for Social Security(Federal) since they are state employees. Also, the employers of these Texas educators are penalized because the employers have to contribute a portion of their employees (Texas educators) paychecks to the Social Security. This dips into the employers profits. Why would employers hire the Texas educators when the employers have to contribute to the required Social Security and the Texas educators cannot collect the full benefits for Social Security.

Educators in Texas have heard that our new President wants to shuffle our state teachers' retirement money into the Social Security program. WOW! Hope not! Can he or would the Legislature vote in this investment for out TRS money?

Linda Abshier of TX @ Feb 09, 2009 11:35:31 AM

Penalize the RICH

Why should the wealthy be penalized with high taxes? Many business owners have started their own companies/businesses. Why should they be penalized for making money the old fashion way---they earned it!

Another problem with the Federal/Social Security programs.

In Texas most of the public schools do not contribute to the Social Security---but Texas educators are mandated to contribute to the state retirement program--TRS(state). Many Texas educators moonlight at 2nd jobs to help make ends meet and have some "extras" in their households. Texas educators are penalized for moonlighting-----because they cannot collect the full benefits for Social Security(Federal) since they are state employees. Also, the employers of these Texas educators are penalized because the employers have to contribute a portion of their employees (Texas educators) paychecks to the Social Security. This dips into the employers profits. Why would employers hire the Texas educators when the employers have to contribute to the required Social Security and the Texas educators cannot collect the full benefits for Social Security.

Educators in Texas have heard that our new President wants to shuffle our state teachers' retirement money into the Social Security program. WOW! Hope not! Can he or would the Legislature vote in this investment for out TRS money?

Linda Abshier of TX @ Feb 09, 2009 11:35:27 AM

Zeitgeist

For those of you who still do not understand the concept of money system, taxes and things related, download and watch this documentary movie that is free to duplicate and redistribute for educational purposes and pay close attention to part three starting around 1:14:00.

You will need some torrent client for download, and some divx/xvid codec for watching:

http://isohunt.com/torrent_details/39502984/zeitgeist?tab=summary

http://isohunt.com/torrent_details/52815880/zeitgeist?tab=summary

As Kent of CA wrote, be afraid. Be VERY afraid. Be frightened. And you're not even close.

Dalibor Jankov @ Dec 11, 2008 16:17:11 PM

WRONG Methodology

Whoever submitted this "analysis" should be fired. The author seems to have the same sorry math skills as the "analysts" at credit agencies that were rating subprime mortgages as AAA investments.

It is WRONG for at least 2 reasons:

(1) You cannot use mean numbers as indication of when one is in the top 20% or 5%. You need to use a cutoff figure that informs you of when you meet the minimum to be at 20%, or at 5%, not the average. Someone can have substantially less income than the average/mean income in the top 5% and still be in the top 5%. Using mean incomes is misleading or dishonest.

(2) The step of multiplying per capita household income (a meaningless number) by 4 to get the average income of a family of 4 is PURE IDIOCY. This methodology assumes that a family of 4 consists of 4 income earners, with children earning the same amount as parents. How many 10-year-olds do you know earn the same income as their working parents? By the author's logic, a top 5% family of 10 in Omaha, Nebraska (2 parents + 8 kids) makes $1,035,095. Hey, add more kids and you get higher income! I don't think so.

If this article is indicative of the type of person America's education system is producing, we need to be afraid. Very afraid.

Kent of CA @ Dec 10, 2008 05:09:28 AM

Oh yes - taxes

One more thing.

In Serbia, tax policy favors rich people and big companies.

Try running a small business and you'll end up in debths after a year or so, because of sky-high interests on loans and various kinds of ADDITIONAL taxes that are deducted from one's profit anually on various bases. Which means that local internal revenue services rub your company off all that is left at the end of fiscal year, leaving no opportunity to expand business or contribute to economy by employing workforce. Many of my friends tried running small companies, but none managed to survive more than a couple of years so i know what i'm talking about.

Bottom line is - the richer you are, the more taxes you SHOULD pay and vice versa, or you all might just end up with few corporations ruling complete financial market of United States and than you would see what it's like to live in a country that favors rich, like Serbia.

Dalibor Jankov @ Dec 10, 2008 04:32:48 AM

Much ado about nothing

Most people can never have enough.

I live in Belgrade, Serbia, was educated at prestige Faculty of mathematics at Belgrade University all to work as a schoolteacher (because no other job was available for given degree over a period of a year), with my wife working on position as a chief of accounting department in Pozarevac National Museum.

Our combined year income is 10 000 euros (yes, ten thousand, for both of us, for a year) and we have to make living with that kind of money even though bills, fuel prices, food and everything cost as much as in the States and even more.

And the best part is yet to come: the two of us are lucky even to have jobs, not to mention that our salaries are top 10% given the Serbia average.

So reading about your 250 000 dollars income and moaning over miserable destiny that cursed you Americans with living on the verge of poverty makes me wonder where does greed end? You all should spend two or three months living somewhere other than States to appreciate what you have.

Dalibor Jankov @ Dec 10, 2008 03:19:14 AM