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"You don't know what you're talking about!!!"

Wahbooz

Governor
Yes I do, and here is proof. At least 50% of those you consider rich, know what economic inequality is, and how it affects the economy; as well as how little the wealthy pay in taxes. Way back in the early '70's, when I was taking Econ classes, instructors specifically lectured on how the economy relies on the 'working class' spending. Without customers, business eventually fails. Only the minority of wealthy entrepreneurs don't get this simple fact...... Willard.

http://www.msn.com/en-us/money/markets/millionaires-concerned-about-inequality/ar-BBbvGDF
 

Addy

Rebuild With Biden!
when I was taking Econ classes, instructors specifically lectured on how the economy relies on the 'working class' spending. Without customers, business eventually fails. Only the minority of wealthy entrepreneurs don't get this simple fact......
Good read re several aspects, appears the millionaires get it too from their polling/comments.
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"These findings show the wealthy realize that our society is better when everyone is in the game and earning—and that economic inequality can have negative consequences," said Thomas P. Melcher, executive vice president and head of Hawthorn, PNC's family office.
 
You define it. The article is quoting/polling mostly from the millionaires' pov.
Without a clear definition of the term, your argument is useless. And, as you've now proved, you can't define it, except to admit that it changes whenever you need it to make your argument more convenient...
 

Addy

Rebuild With Biden!
Without a clear definition of the term, your argument is useless. And, as you've now proved, you can't define it, except to admit that it changes whenever you need it to make your argument more convenient...
I consider millionaires to be quite wealthy and billionaires to be super wealthy.. different tax bracket for the two.
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Granted, people sometimes tell pollsters what they think they should say, rather than what they actually think or do. And the very rich—billionaires or those with eight-figure fortunes—might respond differently. Someone with $1 million in assets might support higher taxes on top earners because they're not a top earner.
 

Addy

Rebuild With Biden!
Wealth
noun
1.
a great quantity or store of money, valuable possessions, property, or other riches:
the wealth of a city.
2.
an abundance or profusion of anything; plentiful amount:
a wealth of imagery.
3.
Economics.
  1. all things that have a monetary or exchange value.
  2. anything that has utility and is capable of being appropriated or exchanged.
4.
rich or valuable contents or produce:
the wealth of the soil.
5.
the state of being rich; prosperity; affluence:
persons of wealth and standing.

I have personally known/been friends with several millionaires throughout my life time. btw :)I could add more but I won't.:p
 
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fairsheet

Senator
Wealth
noun
1.
a great quantity or store of money, valuable possessions, property, or other riches:
the wealth of a city.
2.
an abundance or profusion of anything; plentiful amount:
a wealth of imagery.
3.
Economics.
  1. all things that have a monetary or exchange value.
  2. anything that has utility and is capable of being appropriated or exchanged.
4.
rich or valuable contents or produce:
the wealth of the soil.
5.
the state of being rich; prosperity; affluence:
persons of wealth and standing.

I have personally known/been friends with several millionaires throughout my life time. btw :)I could add more but I won't.:p

Unfortunately, too many people from BOTH sides of "the aisle" (so to speak) can only perceive "wealth" in terms of how many zeroes there are on a person's ban ledger. This myopic view is very difficult to enlighten people about.
 

Wahbooz

Governor
I consider millionaires to be quite wealthy and billionaires to be super wealthy.. different tax bracket for the two.
----
Granted, people sometimes tell pollsters what they think they should say, rather than what they actually think or do. And the very rich—billionaires or those with eight-figure fortunes—might respond differently. Someone with $1 million in assets might support higher taxes on top earners because they're not a top earner.
You're trying to talk to an empty hat. This fool has echoes when the wind blows. He is one of the worst when it comes to anything worth considering as a contribution.
 

Addy

Rebuild With Biden!
The quote below sums it up most accurately, imo, re wealth; very good read on the link.
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“Who’s rich? It’s a good question,” Williams said. “Rich depends on where you live and with whom you are comparing yourself.”

These surveys are among the many that deal with our fascination with “being rich” and trying to define wealthy — a term whose meaning has changed over the years, and that can mean very different things depending on where one lives and works and the lifestyle of the person next door.

As the Wall Street Journal’s Wealth Report blog noted when the latest wealth-survey data hit the wires in 2008, people tend to look at individuals doing twice as well financially as they are as rich. “Those with $100,000 in incomes say $200,000, while those worth $5 million say $10 million,” the story explained.

One’s age — and peer group — has a lot to do with one’s perspective on wealth. In the Spectrem Group’s 2013 survey, 45% of Gen X and Gen Y investors (basically, those 40 and under) said a person needed a net worth of at least $1 million to be rich. Among investors ages 60 and older, however, only 22% said someone with $1 million was rich.
http://business.time.com/2013/07/24/what-it-means-to-be-wealthy-in-america-today/
 

freyasman

Senator
To some people I'm sure it does, like a homeless man living under an overpass.
Honestly, I've been feeling pretty "wealthy" myself since I got this new gig, but in reality I'm probably on the lower end of the economic scale still. Compared to when I was active-duty though, I'm fricken Oprah rich.... It's all relative, IMO.
 

Wahbooz

Governor
Honestly, I've been feeling pretty "wealthy" myself since I got this new gig, but in reality I'm probably on the lower end of the economic scale still. Compared to when I was active-duty though, I'm fricken Oprah rich.... It's all relative, IMO.
Watch some of those videos, I often rub elbows with people who spend that kind of money, and still see themselves as not rich.
 
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