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The Ladder Of Wealth

posted 12/22/2017 12:43:30 PM |
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  ttomtarr

Lots of poor people are unhappy because the rich folks are so much farther up the ladder of wealth than they are. The poor guys on the bottom look up, and see the rich guys 15 rungs higher up the ladder.

So our Fearless Leader gives the poor a tax cut, and the poor folks move up the ladder 5 rungs. But our beloved leader also gives the rich a much bigger tax cut, and they move up the ladder 10 rungs.

So everybody is happy. But the poor guys are so busy spending their new wealth at Walmart that they fail to notice that the rich guy is now 20 rungs ahead of them. And with all the commotion, the ladder sinks into the soft ground of inflation, and the poor guy is back on the bottom, except that the rich guy is now 20 rungs higher, instead of just 15.

So lets all sing the praises of our Fearless Leader……and pray he doesn't help us any more.

PS This blog is dedicated to Kentuck, so that at least once this year, we can agree on something.

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Comments:
Pompoms

Dec 22 @ 12:47PM  
So everybody is happy. But the poor guy is so busy spending his new wealth at Walmart that he fails to notice that the rich guy is now 20 rungs ahead of them. And with all the commotion, the ladder sinks into the soft ground of inflation, and the poor guy is back on the bottom, except that the rich guy is now 20 rungs higher, instead of just 15.

Absolutely correct. Kudos for that quote.
DiamondRain

Dec 22 @ 3:09PM  
The problem with that is this.

Just a couple of generations ago people looked up that ladder and saw opportunity. Now, thanks to a socialist assault on American values, when they look up the ladder they see a cash cow. Achievement has given way to entitlement.

My grandfather lost his mother as a small child. His family had nothing they were lucky if they could put enough food on the table.

In those days there was no welfare, there were no food stamps, there was no Social Security, no Medicare or Medicaid, no such thing as government handouts.

The thing that took the place of all of those was opportunity. And no place else on the planet was opportunity more plentiful than in America.

My grandfather dropped out of the 6th grade. His first job paid $0.10 an hour. He was only about 12 years old and working 12 to 14 hours a day in a meat packing plant. But by 14 he had learned a lot of skills and had already been promoted to a supervisor. As unusual as that was still, a couple days after he was promoted he knew that that wasn't what he wanted to do and his ambitions were much greater. So he quit to work for a cab company driving a cab with a $0.06 an hour raise (he lied about his age).

After learning the ins and outs of the cab business he was finally able to make an arrangement to lease a cab and drive a cab for himself instead of someone else.

Still working 12 to 14 hours a day 7 days a week for several years he put enough money away to move and look for work opportunities elsewhere.

After a series of low paying jobs, each of which was a learning experience, he became experienced as an auto mechanic. Then during World War II he became an aircraft mechanic working on military fighter planes. He convinced one of the owners of a company he worked for to invest in a gas station which he would manage. Couple of years later he bought the gas station and ran it himself for several years doing the mechanical work and running the business.

After several years of very hard work and scrimping and saving he decided to get a few used cars and try to sell them at the gas station. After several more years he got a reputation for selling good cars.

One day some men in fancy suits got out of a fancy car and came into the gas station. Turns out they were from one of the major auto companies which is still doing business today. They asked him if he was interested in trying to sell a few new cars from his gas station. Of course he said yes. He sold them so quickly that they were highly impressed and asked him if he would like to have the franchise for the local dealership. Of course he said yes.

He then went on to open a very successful auto dealership and ran it until the day he died in his late 80s. He also died a multi-millionaire.

What would have happened if the minimum wage when my grandfather got his first job was $0.20 an hour? He would never have gotten that job. He would never have been able to step on that first rung on the ladder. He would never have won the skills he needed to move up that ladder. And if he he had lived in the current era of entitlements instead he and his family might have been on welfare for the rest of their lives.

We have to move away from the entitlement society and back to the opportunity society. We have to end welfare as we know it and replace it with opportunity and then require people to take responsibility for their own success.

We need to purge the country of this liberal socialist cancer that is eating away its gut. When people look up that ladder we need them to see opportunity, not a cash cow.
texasgirl8585655

Dec 22 @ 3:33PM  
^^^^^^^^^^^^^^^^^^^^
If only young people had that kind of work ethic today!

Sadly, most do not.

You are absolutely right about the minimum wage. And opportunity.
DiamondRain

Dec 22 @ 3:51PM  
PS... when my Grandfather died, the government swept in and yanked half of his hard earned life savings out of his grave to fritter away on government waste, fraud and corruption.

They used to call people who did that grave robbers. What gives the government the moral right to steal from the dead?
Angel1964691

Dec 22 @ 3:59PM  
DR...
In a weird way I understand what you are trying to say... However it was a different time back then. Anyone could take on an apprenticeship. You didn't need a bunch of degrees before they let you in the door.
What was the mortality rate back then?

I'm 53 years old. I had a decent paying job, but when they were changing things around... I was offered the new job title, another position or a package... I was also taking care of my Mom so I took the package. After she was placed in a home because I could not do it on my own anymore. I went back to work.
Left that job for a better paying job. They shut down. I found another job... The store closed and now I'm out of a job again.

I'm a 53 year old diabetic. What opportunities? Accept when I was a stay at home Mom I worked. When I was a stay at home Mom I baby sat othet kids and my own. I have even worked two full time jobs that I can't do anymore. I never once asked for a hand out!
I again am looking at starting all over.
Look at the cost of living compared to back then.
eastham

Dec 22 @ 8:30PM  
Upward mobility was once the civic religion, the proverbial American Dream. Blaming laziness is a facile attempt to disguise what is really happening. The US is no longer a country where you can rise above your birth and go on to great things. Upward socioeconomic success is now more likely in Scandanavia and Canada than here. And the stacking of the deck we recently saw with the "tax reform" bill passed in Congress is proof positive of that.

One of my customers, who has been trying to sell her house in Westchester in order to move back to her native La Jolla, CA, was told by her real estate broker the tax bill will add at least a year onto her move, because the $10K cap will kill high end real estate transactions in NY.
drcocktail

Dec 22 @ 9:01PM  


One of my customers, who has been trying to sell her house in Westchester in order to move back to her native La Jolla, CA, was told by her real estate broker the tax bill will add at least a year onto her move, because the $10K cap will kill high end real estate transactions in NY.

Right, right....the cap increased from $7500 to $10000 in an already high property tax rate area long before the Tax Cut will be enacted....this in an area of high end property values where home sales are largely based on desirability and not the existing unfavorable tax structure. She should get another broker or you should stop pedaling BS that shows your gullibility.
DiamondRain

Dec 22 @ 9:14PM  
One of my customers, who has been trying to sell her house in Westchester in order to move back to her native La Jolla, CA, was told by her real estate broker the tax bill will add at least a year onto her move, because the $10K cap will kill high end real estate transactions in NY.

Gee... I thought those rich people in Westchester in the high end homes were making out like bandits with the Trump tax cuts.

Thanks for letting us know that what the Democrats have been telling us the entire time is complete BS.
DiamondRain

Dec 22 @ 9:23PM  
The US is no longer a country where you can rise above your birth and go on to great things.

Utter baloney. My ex gf is black and grew up in the 80s in one of the poorest black inner city ghettos in the country.... family of 13 kids. They were so poor she had to take cold showers and the kids had to take turns skipping meals several times a week.

She didn't listen to the liberals spouting this kind of BS about you can't get ahead in America if you are black or female that permeated her neighborhood like a bad infestation of roaches you can't get rid of. She didn't let the liberal slave masters keep her in chains. Instead she just went ahead and finished HS, went on to college and about 10 years ago got an MBA. Now she earns a high 6 figure salary on Wall Street and runs a division of a major investment bank.

So can that BS will you? Stop trying to discourage people from succeeding in order to protect the liberal welfare state.
smoking_mirrors

Dec 22 @ 10:20PM  
check out how you had to party like it's 1999.....(DR)

news flash.... TODAY she would never make it..... it's the year....2018..




So our Fearless Leader gives the poor a tax cut, and the poor folks move up the ladder 5 rungs. But our beloved leader also gives the rich a much bigger tax cut, and they move up the ladder 10 rungs.

So everybody is happy. But the poor guys are so busy spending their new wealth at Walmart that they fail to notice that the rich guy is now 20 rungs ahead of them.

there is no new wealth..... the uneducated poor only think that trump did not lie to them....

and the poor.... never pay federal taxes anyway... it's the working poor that are struggling... that see the inequality...
and the well off middle class think that they might break even....so they are remaining silent....

while the rich are thinking that this is the best Christmas ever....



my beef.... the deficit will rise even more.... and china knows that they can repossess ...when we fail to pay them back how and when...they want to be paid....

trump...and rich people are acting like tweakers at Walmart...

sorry (not) that you cannot see it for what it is....









eastham

Dec 22 @ 10:38PM  
Republicans from New York, New Jersey and California voted against the tax bill because of the cap on the home mortgage deduction and the $10k cap on the deduction of SALT -- state and local taxes. The issues concerning these provisions of the tax bill were covered extensively in Westchester NY newspapers, television and radio.

According to the IRS, 47% of all Westchester resident take the SALT deduction at an average of $34,300, well above the $10K cap. The average home price in Scarsdale is well over $1 million. Local realtors in Scarsdale have warned prospective homesellers that property values could decline more than 10%.

The National Association of Realtors and the National Association of Homebuilders both opposed the tax bill, because of the deleterious effect the bill will have on homeownership.
DiamondRain

Dec 22 @ 10:52PM  
my beef.... the deficit will rise even more.... and china knows that they can repossess ...when we fail to pay them back how and when...they want to be paid....

I have to give liberals some credit where credit is due. In a competition for the goofiest economic arguments they always produce some formidable candidates.

But this one stands head and shoulders above the other. And it also gets at least the runner up spot in the unmitigated gall category.

Their hero Obama added more national debt to the country than ALL THE OTHER PRESIDENTS BEFORE HIM COMBINED. Not an opinion, a fact. He added OVER NINE TRILLION DOLLARS to the national debt in EIGHT YEARS.

President Trump's tax cut is at the maximum projected to add about $1.5 Trillion to to the national debt OVER 10 YEARS. 1.5 Trillion...

Obama added SIX TIMES as much to the national debt as the Trump tax cuts are projected to add. SIX TIMES

It's nice to know that after 8 years of the most fiscally irresponsible president in history during which time liberals cared absolutely not one wit about the national debt that they have finally found Jesus not even a year into the Trump presidency.

And by the way that $1.5 Trillion figure is probably wildly overestimated because the CBO SUCKS at doing dynamic scoring.

My 4 year old niece can write a better dynamic scoring model then those jamokes.

And also by the way, during the same period that the Trump tax cut is OVERprojected to add $1.5 Trillion to the national debt, the next 10 years, wasteful government spending is projected to add ANOTHER $9 Trillion... again DWARFING any debt incurred because of the Trump tax cuts by a factor or 6. Not a peep of complaint out of liberals about that.

The selective liberal outrage about any puny deficit that may or may not even materialize because of the Trump tax cuts is laughable.
DiamondRain

Dec 22 @ 11:15PM  
According to the IRS, 47% of all Westchester resident take the SALT deduction at an average of $34,300, well above the $10K cap. The average home price in Scarsdale is well over $1 million.

You're kidding right? Your case is shtick right?

Your own facts belie your case.

So you are saying that of the $34k they can only deduct $10k. That means their deductions will be reduced by $24k compared to the old system.

If they are in the absolute highest tax bracket under the new system that means that it will cost them less than an additional $9k. If they are in a lower tax bracket it will cost them less than that. And that doesn't count the offset savings they will get because the tax brackets at every level are lower than they were before. It will actually cost them less than that no matter what bracket they are in.

Of course to be in the highest tax bracket they would have to be earning over $600k a year.

Are you really trying to argue that someone earning over $600k a year who is looking for a million dollar+++ house in Westchester is going to be deterred by an extra expense of less than $9k?

Libs are so bad at math. It's really kind of endearing.
drcocktail

Dec 23 @ 1:13AM  
Guaranteed she doesn't get it. When all you do is regurgitate dogma, you aren't required to do the hard parts ...reasoning and understanding.
ttomtarr

Dec 23 @ 1:29AM  
I love these comments. They have various points of view, but are on topic.

T hanks for keeping it civil, folks.
Pompoms

Dec 23 @ 3:36AM  
Well I didnt read the comments Ttom, couldn't be bothered because they won't change my views just as I won't change theirs.

But I was thinking about you, and here is my advice, even though I seldom advise anyone. If you have scored on the markets, best get out soon. Put it in a safe place without regret if the stock markets still increase a tad.
Pompoms

Dec 25 @ 11:20AM  
Compliments of the season to you.



Fayvorite

Dec 25 @ 8:15PM  
nstead she just went ahead and finished HS, went on to college

DR - who paid for her college?
drcocktail

Dec 25 @ 8:15PM  

.........., and here is my advice, even though I seldom advise anyone. If you have scored on the markets, best get out soon. Put it in a safe place without regret if the stock markets still increase a tad

LOL....there's a 4 Pinocchio for you.
.
DiamondRain

Dec 25 @ 8:43PM  
DR - who paid for her college?

She did. She worked two jobs during college and took out loans for the rest.
DiamondRain

Dec 25 @ 8:53PM  
And I want to mention that the opportunities for black people at colleges are far better than for white people. Black people have a HUGE advantage in getting into and paying for colleges. An advantage that is completely unfair to white people and downright racist against both whites AND blacks.

Not only are there a million more scholarships available to blacks (can you imagine if they were only available to whites?!!!!!) but even when I went to college, they lowered the academic admission standards for black people and begged them to enroll...an act I find grossly offensive and racist to BLACK people.

How offensive is it to have lower academic standards for black people? That's part of the liberal racist view of blacks left over from hundreds of years of the Democrats being the party of slavery and racism ... they think black people are intellectually inferior and so we have to lower the bar for them.

And by the way... THE SAME IS TRUE FOR WOMEN ... more opportunities and lower standards.... DISGUSTING INSULT TO WOMEN ... maybe that's why for the first time there are more women graduating college than men.
drcocktail

Dec 26 @ 12:00AM  
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