Earn Money – How are the wealthy earning their money lately?
Question by Hyena: How are the wealthy earning their money lately?
The Congressional budget office recently announced that the income of the top 1% increased 275% since 1979. Yet there seems to be no increase of investment in American industry or employment.
My question is, are they earning most of this money overseas and if so, is the government able to tax it?
Answer by DYT
Business owners earn money any way they can. It is not as simple as go to work, clock in/out, collect paycheck… Some money comes from overseas, some money comes from the US. America can only tax money reported in the US.
The reason for this increase is that our economy has gone massively global. It is much easier to sell products overseas than it has been in the past, due to technology. Technology is also making manufacturing more efficient, hence the need for less and less jobs on factory floors.
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lying with statistics again?
In 1979, the Dow Jones Industrial Average was in the 700 – 800 range. This morning it is above 12,000.
The value of total investment in the U.S. and other major stock markets has increased by much more than 275% since 1979.
The more government taxes things here in the United States, the more you can rest assured will be invested overseas.
Capital Gains. Not considered income and not taxable. In other words, they make money off of money.
The same as always – by hard work, investing, risk-taking and innovation.
The tax code needs to be changed.
I have found that it’s more fruitful to focus on how I earn MY money – and who is trying to take it from me – than to wonder how others are earning theirs through private enterprise. A country built on resentment won’t survive.
Salaries, investments, inheritance, dividends, business profits, bonuses, contracts, legal settlements…..
basically the same way they’ve always earned money.
Many wealthy people are simply drawing money OUT of their businesses! It is a good time to do it as the tax rates for the wealthy are the LOWEST they have ever been!
That is why they are not creating jobs- they are too busy creating their own wealth and investments!
I think you should ask Nancy Pelosi, she increased her wealth by 67% last year.
screwing the poor as usual
Roseanne’s Nuts is just as nutty as the name.
Oprah Winfrey managed to earn $ 315 million dollars in 2010.
Michael Bay $ 120 million dollars, golf player Tiger Woods $ 105 million dollars, movie producer Jerry Bruckheimer $ 100 million dollars, movie director Steven Spielberg $ 100 million dollars, movie director George Lucas $ 95 million dollars, singer Beyonce Knowles $ 87 million dollars and Dr Phil $ 80 million dollars.
The average income of an NFL player is $ 2 million. Whoopi Goldberg made $ 2 million appearing on “The View.”
Most of those names are diehard liberals who thinks the 1% super rich should pay more but you don’t see THEM pumping cash in to YOUR bank account do you?!
It is now 2011. You are talking about 30+ years. They are talking about all of the years combined. Some have interest earnings and some have capital gains. Some have no income for the last 3 years. The figure still counts when you look at 30 years, It is up that much but nothing in the last 3 years. They don’t need an income.
Cool candid man…
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Cool candid. Like the reflections in the glasses.
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