Quote:
Originally Posted by Slims
The idea that rich people somehow are able to avoid spending their money or paying taxes is absurd...except for what is donated to charity.
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It's not absurd at all, it's reality. Our tax code absolutely, positively is designed to favor the wealthy. Give this a read:
The Philosopher's Stone: How the Rich (Don't) Pay Taxes
Quote:
Originally Posted by Slims
My point is that NOBODY ultimately makes more than they spend.
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I do, by leaps and bounds. My current income after taxes is about $86,000 a year. Right now I spend maybe, MAYBE $40,000. The rest goes into material investments. I have an original copy of the New York Herald from the day Lincoln was assassinated. Even if there's a rather serious economic collapse, after a recovery that piece will still be worth a great deal. Or if there's no recovery, I can leave the US and still sell it for quite a bit. And that's hardly the only thing I've purchased. I also have quite a bit in my savings (though I'm considering liquidating it and investing most of it elsewhere).
If things keep going the way they've been going for me, I'll be able to leave a substantial sum in my inheritance. That's wealth.