The coming financial crisis

[rjs246]

The oversimplification is driving me crazy. The current mindset is not 'anti-wealth'. No one is anti-wealth.

The mentality is two-fold:
1. 'Anti-wealth-in-the-face-of-obvious-corporate-failure'. People getting rich through methods that led directly to our country's (and the world's) financial collapse.
2. 'Anti-massive-wealth-gaps'. Over the past 8 years the gap in wealth has expanded enormously. Income for middle class families stagnated while the upper class expanded their wealth. That is going to breed resentment 100% of the time.

No one is anti-wealth and the knee-jerk labeling of what's happening as an anti-wealth movement is farging idiotic.

[PoopyfaceMcGee]

You're wrong.  You don't even have to leave this board to find people that are anti-wealth.  People who make less money are entitled to things they cannot afford, and people who make more money are obliged to pay for them.  That is the new American way.

[General_Failure]

You're wrong.  You don't even have to leave this board to find people that are anti-wealth.  People who make less money are entitled to things they cannot afford, and people who make more money are obliged to pay for them.  That is the new American way.

Example: Jeff Lurie is obliged to pay any amount to keep players that are likable but past their prime so we can watch them do crazy things before the game starts.

[rjs246]

You're wrong.  You don't even have to leave this board to find people that are anti-wealth.  People who make less money are entitled to things they cannot afford, and people who make more money are obliged to pay for them.  That is the new American way.

Expiring the tax break on the wealthy (bringing tax levels to exactly the same levels they were at in the 90s) was a provision put in place by a Republican President and a Republican congress because they knew that it couldn't last forever. We have a tiered tax system and it has been in place in this country and most others for a very long goddamned time. The wealthy pay more and always have to help provide everyone with certain services.

If you consider this to be wildly unfair I don't know what to tell you. The majority of rest of the planet finds it fair and has repeatedly implemented it as the standard tax format...

[ice grillin you]

wealthy should actually pay more than they do...with loopholes that only they can jump thru and write offs they dont pay shtein

theres a reason the rich get richer and the poor get poorer

[BigEd76]

CEO's wife divorcing him, says $53,000 a WEEK isn't enough for her

wah.  f'ing b***h

[Butchers Bill]

wealthy should actually pay more than they do.

True.  The tax brackets need to be adjusted since the top bracket is the same as it was in 1940.

with loopholes that only they can jump thru and write offs they dont pay shtein

False.  The "rich" already pay a ton in taxes and are the reason why we have the services we do.

http://www.factcheck.org/askfactcheck/what_percent_of_taxes_does_the_top.html

[PoopyfaceMcGee]

wealthy should actually pay more than they do.

True.  The tax brackets need to be adjusted since the top bracket is the same as it was in 1940.

with loopholes that only they can jump thru and write offs they dont pay shtein

False.  The "rich" already pay a ton in taxes and are the reason why we have the services we do.

http://www.factcheck.org/askfactcheck/what_percent_of_taxes_does_the_top.html

Ding a ling ding.

[ice grillin you]

i know people who fully admit that they dont pay shtein compared to what they could or should because of all the write offs and such

but if you disagree i would try and prevent yourself from making 300k plus...its gotta be a terrible place to be

[PoopyfaceMcGee]

You would know, moneybags.

[ice grillin you]

im rich im not wealthy

[PoopyfaceMcGee]

Speaking of money, holy shtein with the mortgage rates.

I can do the following:
--reduce rate by .375% without paying fees
--reduce rate by .75% by paying regular fees (~$1900 all in)
--reduce rate by .875% by paying fees plus 0.5 points
--reduce rate by 1.125% by paying fees plus 1 point

We will likely be in our house for at least five more years, let alone 2-3.  Thoughts?

[Tomahawk]

From what I gather from office banter, it's not worth it to refi unless your going to drop the rate by at least 1%, but I'm not sure how that extra point plays out. To summarize, I got nothing for you. Pad

[PoopyfaceMcGee]

That is pretty standard thinking on a normal refi.  But, when I say NO fees, I mean NO fees.  Pad.

[BigEd76]

wow....4.50% at Wachovia today on a 30-yr fixed