A Picture is Worth 1,000 Words

[Sol Rosenberg]

The USA is one of the most maldistributed economies in history. It's not stable this way, IMHO.

It is. The Best Americans do not need stability. They only need their media apparatus to continue keeping the unwashed masses divided over race, gender, sexual orientation, religion and any other wedge issues, and the gears of their machines can continue to turn. Their lobbyists can and will continue to ensure that the economy continues to be rigged in their favor and that the IRS will remain underfunded and unable to fight their efforts to avoid their already lessened tax burden.

That will last until hoople-heads realize who has really been pissing down their backs. That may never happen but if it does, the pitchforks will come out fast.

 

[MagentaLine]

Why is it not stable?

 

[Virgulino Ferreira]

15 million, you say?

 

[Steam Flyer]

It is. The Best Americans do not need stability. They only need their media apparatus to continue keeping the unwashed masses divided over race, gender, sexual orientation, religion and any other wedge issues, and the gears of their machines can continue to turn. Their lobbyists can and will continue to ensure that the economy continues to be rigged in their favor and that the IRS will remain underfunded and unable to fight their efforts to avoid their already lessened tax burden.

That will last until hoople-heads realize who has really been pissing down their backs. That may never happen but if it does, the pitchforks will come out fast.

I dunno about that last bit. IMHO the trumpalos are the most gullible, most sheep-like, placid, easily subjugated, people... born to be peasants, serfs, and slaves. Perfectly happy to labor in the muck and dream about monster trucks and Jeeezuss.

It's the rest of us that they are trying to convince, strip rights from, and intimidate.

 

[billy backstay]

Could be the difference in "net wealth" and "net worth."
Net worth is usually defined as excluding real estate that is your residence(s).

Is that why all the rich guys have a half dozen "residences" sprinkled around the 50 states?

There's more than a few around here, especially along the waterfront.

 

[Virgulino Ferreira]

 

[Remodel]

Will you take a picture of your wife's strap on too?

You'd have to pull it out of your ass first.

 

[Olsonist]

I dunno about that last bit. IMHO the trumpalos are the most gullible, most sheep-like, placid, easily subjugated, people... born to be peasants, serfs, and slaves. Perfectly happy to labor in the muck and dream about monster trucks and Jeeezuss.

It's the rest of us that they are trying to convince, strip rights from, and intimidate.

Unfooling a fool, we'll call this education, is very very hard. Unfooling a fooled fool is nigh on impossible.

 

[Bus Driver]

I didn't know she had tax free status.

Exactly. Keith posts a Tweet about the richest pastors, and numblefuck vvv comes back with an attempt to make a comparison to Monica. Apples and aardvarks.

But, when you lack the intellectual horsepower to formulate an original thought, much less craft a grammatically correct post in which to include it, what ya gonna do?

 

[veni vidi vici]

Like a dimwit like V3 could have accumulated 7 figures net.

Ain’t that hard, I have not had a mortgage payment since 1998 , work , save , invest conservatively and wait.

 

[SloopJonB]

Net worth and annual income are two very different animals. There are lots of "Millionaires" based on net worth whose modest incomes are way below the $400k quoted threshold of 1 per-centers.....

EDIT: just googled this factoid....

The top one percent of household net worth begins at approximately $11,100,000. Ranking by net worth is a more useful way to determine the top one percent than using household income. Think of it as the difference between accumulated wealth and current disposable income.Jan 26, 2023

EDIT II: again....

How much money you need to earn to be in the top 1% ...​

CNBC
https://www.cnbc.com › 2023/01/24 › how-much-mone...

Jan 24, 2023 — Here's how much money you need to earn to be in the top 1% in every U.S. state ; Top 1% income threshold: $955,261; Top 5% income threshold: ...

View attachment 594004

The bottom of the heap is all red states.

 

[Jules]

 

[Gouvernail]

In the near future

 

[Steam Flyer]

Is that why all the rich guys have a half dozen "residences" sprinkled around the 50 states?

There's more than a few around here, especially along the waterfront.

Half dozen? Phooey.

Like Mitt Romney, who, when asked in 2012 how many residences he owned, hesitated and finally admitted that he didn't know.

 

[Virgulino Ferreira]

 

[Bus Driver]

 

[hobie1616]

Wackadoodle rant … lol … how you drew such a crazed conclusion from simply stating a fact
Triggered liberals
SMF’nH

370HSSV-0773H

 

[Steam Flyer]

Like a dimwit like V3 could have accumulated 7 figures net.

Ain’t that hard, I have not had a mortgage payment since 1998 , work , save , invest conservatively and wait.

Pay attention much? Residence not included in usual figure of "net worth" for an individual/household.

Also investing "conservatively" does not gain you much. By definition, "conservative" investing returns only a small amount over inflation.

The 3rd thing you got wrong, paying off a house mortgage is dumb personal finance. If you have good credit, mortgage interest rates are the lowest. You could actually mortgage your house deeply, invest intelligently, and get way way ahead. I did this for a short time before I got married.

Now, on a positive note for you, the insurance cost in high-risk areas can change this equation dramatically. If you have a mortgage, you -must- insure the house to the benefit of the mortgage holder. When insurance (and taxes) cost significantly, it is more difficult to make gains this way.

 

[hobie1616]

 

[SloopJonB]

Pay attention much? Residence not included in usual figure of "net worth" for an individual/household.

Also investing "conservatively" does not gain you much. By definition, "conservative" investing returns only a small amount over inflation.

The 3rd thing you got wrong, paying off a house mortgage is dumb personal finance. If you have good credit, mortgage interest rates are the lowest. You could actually mortgage your house deeply, invest intelligently, and get way way ahead. I did this for a short time before I got married.

Now, on a positive note for you, the insurance cost in high-risk areas can change this equation dramatically. If you have a mortgage, you -must- insure the house to the benefit of the mortgage holder. When insurance (and taxes) cost significantly, it is more difficult to make gains this way.

As usual he got pretty much everything wrong.

Investing conservatively when young is a guaranteed way to not end up with much. We kept mortgages on both houses until recently. Used the funds for investments (leveraging) and to anchor lines of credit - enabled me to buy cars & boats for the minimum interest instead of paying consumer rates.

Conservative investments are for when you are approaching (and after) retirement when a badly timed market down could hurt.

Even now, 15 years into retirement, our investments are 60% equities (high risk) and 40% conservative.

And we've got a whole lot more than 1.5 Mil.