If I'm a trader and 1% of my trades are doing fantastic but the other 99% are not performing so well how would I rectify this problem?
the top 1% earn more and pay a smaller % in capital gains tax than many middle class folks because capital gains incurs risktaking. buying real estate or stocks, running a small business, etc. and risking loss takes alot more balls than sitting on a 6 fig pension salary teaching a classroom 9 months a year picking up garbage or welding steel. that is why the IRS refers to their income as ordinary income.
What do you think will happen to Rajaratnam in jail? It won't be a cane but his ass will be involved....
prolly madoff's roommate at white collar facility and get served steak dinners and watch ball games on an 80" tv in the rec room.
This shit pisses me off to NO END!!!...I am in the top 1% and have worked my ass off to get here. As someone else said when everyone else I knew was out partying I was studying and working hard to succeed at my profession. Years of sacrifice for me and my family to do what I like and be successfull at it and NOW FINALLY I can live comfortably. I also have loans that would BANKRUPT me many times over if I didnt pay them back. So you know what?...I pay them back....I make SURE I succeed....Failure is not an option.I still have bills to pay and kids to put through school just like everyone else. If I can provide for my family so what? No one handed me SHIT...but everyone has their MFing hands out EXPECTING it,....they are entitled to it in their minds. They should be taking these idiots Names and SSN# at these rallies so the IRS can tax these A-holes more. That way those of us that appreciate how hard it is to get to this point can live in peace. I stand with the 1% and EXPECT the 99% to work just as hard as I did to get here. The ONLY real exception in my mind are those that TRULY can not provide or fend for themselves...mentally hanidcap, for instance. Only problem is government always seems to get determining that wrong too.
1/35? Where did you get that? Can't possibly be correct. I suspect such info to be Leftist propaganda... "If there are so many people who are making so much money, they should be paying more taxes". LESS GOVERNMENT, NOT MORE TAXES! LESS TIT-SUCKING PARASITES... they should WORK for their money and live within the means they earn... we already have TOO MUCH WEALTH REDISTRIBUTION... more of it is not the answer.
i recall reading in the journal that there are like 3 millions people with investible assets of $1m or more, so 1 in 35 for all-in net worth sounds pretty reasonable. update: yup, a quick search found a cnn article - http://money.cnn.com/2011/05/05/pf/millionaire_rise/index.htm
Doesn't sound credible. By 2020, 1 in 14 Americans to be millionaires? Must be counting on hyperinflation and currency destruction... if they do enough of that, we can all be BAZILLIONAIRES... just like in Zimbabwe.