should we have billionaires?

[jasonc]

I have never actually looked into it but would be interesting to know the interest payed on a mortgage over 20 years and the increased value rate on a property. It probably increased 200k yet paying out 200k not to mention all the rates and insurances and maintenance over the years and working hard by the sweat of the brow, so your either square or down.

If you borrow 200k over 20 years on a mortgage you probably end up paying 100k in interest or something even if it's fixed rate.

You,can. Pay off early ,I have paid extra on mime plus reverse mortgages

 

[ezrider]

billionaires are a-OK, except...

it seems that if we have a system that perks up businesses and artificially creates billionaires (look at the loop holes and straight up tax evasion amazon has done, for example), then we have a situation where....

resource$ are flowing -upwards- , towards those who can afford to invest (I think its only 40%ish percent of the US population), those who have guidance and fund$ to play with (now you're probably looking at 20%, which...get this...is where the affluent classes begin), and further up to the rich...then the very rich...and then...

the mega-mega-mega rich, who control our media outlets, politicians, indirectly affect higher education (in particular...), and basically...

run the joint! oh, and the US has been chastised by the UN for pockets of deep, almost 3rd world level poverty, and crazy inequality, -declining- upward mobility (lots of -downward-) mobility, and our crazy insane inequality is now resulting in....

reductions in average lifespan. lotsa poor people in jail, in prison, on the streets. its..bad, man. bad.

it isn't the billionaire$ hurting people...its a neo-liberal form of capitalism that has shredded the safety net, welfare programs, access to means of upward mobility, and...

ugh! vote democrat. have a nice day.

CE, you raise a lot of valid points and your concern is genuine. Unfortunately what has become evident is people who would presume that they will rule and reign with Christ for a thousand years would rather judge the cause of the millionaires and billionaires. After all, the poor you will always have with you, and the sentiment here seems to be they get what they deserve.


Jeremiah 5:26-29
For among my people are found wicked men: they lay wait, as he that setteth snares; they set a trap, they catch men. As a cage is full of birds, so are their houses full of deceit: therefore they are become great, and waxen rich. They are waxen fat, they shine: yea, they overpass the deeds of the wicked: they judge not the cause, the cause of the fatherless, yet they prosper; and the right of the needy do they not judge. Shall I not visit for these things? saith the Lord: shall not my soul be avenged on such a nation as this?


Micah 6:7-12
Will the Lord be pleased with thousands of rams,
or with ten thousands of rivers of oil?
shall I give my firstborn for my transgression,
the fruit of my body for the sin of my soul?
He hath shewed thee, O man, what is good;
and what doth the Lord require of thee,
but to do justly, and to love mercy,
and to walk humbly with thy God?
The Lord's voice crieth unto the city,
and the man of wisdom shall see thy name:
hear ye the rod, and who hath appointed it.
Are there yet the treasures of wickedness in the house of the wicked,
and the scant measure that is abominable?
Shall I count them pure with the wicked balances,
and with the bag of deceitful weights?
For the rich men thereof are full of violence,
and the inhabitants thereof have spoken lies,
and their tongue is deceitful in their mouth.

 

[jasonc]

I try not to see the bible with a union bias.I,have seen how the union shafts its own.nor do I see the bible on the other end.

The new deal built two things ,the old court house and the airport before the navy took it.the feds didn't help,blacks ,in fact shafted three black families who had been promised their land back after the war.nor did the great society lift them up.the blacks had their own school,bus grid and were graduating high school before the feds forced them to white schools.
Homesteads built before 1900 and by wealthy blacks ,these saw the need to educate their own and only,when they had too many. To educate did they ask the state.

I can pull up more given by the wealthy to the state ,these being libraries ,two which still stand .

 

[Corn Pop]

You,can. Pay off early ,I have paid extra on mime plus reverse mortgages

Check out this one. If I borrowed 250k over 30 years I would pay 200k in interest. If the house gained value and was worth 450k when I payed it off over 30 years I would be square not including all the rates, insurances, and general maintenance payed out over the years. Why should people pay capital gains tax if they sell?.

That's about right. You would think a house purchased at 250k would be worth about 450k over 30 years.Thats nearly doubled.

 

[jasonc]

Check out this one. If I borrowed 250k over 30 years I would pay 200k in interest. If the house gained value and was worth 450k when I payed it off over 30 years I would be square not including all the rates, insurances, and general maintenance payed out over the years.

View attachment 9182

You will pay rent for that sane house plus some for 30 years ,and not have the right to own a pet ,paint it .trust me its not perfect but at my death I can give it to the family.

I can also improve my homes value ,I already have fence ,plus r and o,unit .

 

[jasonc]

Insurance is a must if you want to have a house rebuilt ,repaired after a fire,storm .

 

[Corn Pop]

The rising house value does not mean people are winners long run. I have shown examples of how many people are suckers long run and think they are making with there rising house price over the years when they have really lost.

 

[jasonc]

The rising house value does not mean people are winners long run. I have shown examples of how many people are suckers long run and think they are making with there rising house price over the years when they have really lost.

I,disagree.my mom bought her house for 30 grand ,she can sell,it for five times the amount ,she hasn't paid that in maintenance nor insurance .

Youdndontt,t know .my,house I can rent out for 1300 a month,I pay 900 a month with insurance and taxes.
4800 x 10 is 48000 triple that and its well over what I paid in interest .neighbors the sane house size for that .

 

[jasonc]

That's not including rental rate increases.

 

[Corn Pop]

I'm trying to convince old man Scrooge to buy a house that I can live in. I convinced him to buy a boat he didn't want. That's a start.

 

[jasonc]

Boats also depreciate . I'm not sure if those as like houses in how they can go up.perhaps yachts ,they do get sold during hard times .

The wealthy here have boats ,yachts mostly we have several yacht clubs

 

[Corn Pop]

Boats also depreciate . I'm not sure if those as like houses in how they can go up.perhaps yachts ,they do get sold during hard times .

The wealthy here have boats ,yachts mostly we have several yacht clubs

Boats are like cars that depreciate. So many yachts are sitting neglected on moorings in the harbour rotting away. Auckland city is shocking.

 

[jasonc]

It happens here but not as much .

 

[Corn Pop]

jasonc

Abandoned boats costing Auckland ratepayers thousands of dollars annually

An abandoned vessel can cost up to $30,000 to dispose of, and ratepayers are picking up the tab.

i.stuff.co.nz

 

[jasonc]

jasonc

Abandoned boats costing Auckland ratepayers thousands of dollars annually

An abandoned vessel can cost up to $30,000 to dispose of, and ratepayers are picking up the tab.

i.stuff.co.nz

I,mentioned a sail boat hitting the 56kv power line a few weeks ago that was a derelict .it was removed by a concerned citizen ,he towed it to a spoil island and waited to see if its owner would pay ,then it was tugged to a boat yard in ft.pierce ,the owner who lives in Farelane harbor couldn't afford it,the coast guard was going to act .we have derelict from time to,time I usually don't see them since I traverse the lagoon from all,three bridges .the derelict are often not near them.some are near Oslo doct.one I have seen pushed a shore near bbq Charlie's,a doct who history is a man named Charlie killed a man and cooked him in,a barrel I can photo that its near the bridge ,at times a boat is docked there ,at times its pushed on shore

 

[jasonc]

That story reminds me of our marina .

 

[JohnDB]

We, the poor middle class, invest in stocks and bonds through our retirement portfolios. We own a piece of these large companies. Those board of directors have their own skin in the game and make decisions that make my stock as well as their own grow...
It's so I can retire with dignity.

I don't care that the CEO of a large company makes millions of dollars every year. I'm happy with a lot less....and hey, he helped me and thousands of others make money too.

 

[ezrider]

I don't care

You know that says a lot.

A prostitute doesn't care either, so as long a she's paid for her services.

 

[jasonc]

You know that says a lot.

A prostitute doesn't care either, so as long a she's paid for her services.

So you,do,suggest when the africans ,others are starving the state should tax you to fund their food ,etc ,after all,you,are richer then them.

See where this goes.

 

[ezrider]

Africa is a continent rich in natural resources. If the multinational corporations weren't allowed to exploit those resource for their own greed, then the God given natural wealth would serve their own people. But go on, judge the cause of the multinational corporations, regulations are too burdensome, and taxing them unjust. Who needs clean air or water. Praise and glory to the billionaires, may a few scraps fall from their table!


There was an article earlier this year that said the worlds 26 richest people own as much wealth as the poorest 50%. I guess their altruism just doesn't reach that far.