How much of the 99% are you?

[Doggiemom]

Credit Union member here too and it's located in Denver, I live in Houston. I have been with this CU for 25+ years! Some people tell me I need to switch to a "local" bank...why?????

[horizon200]

Both, Credit Unions and Banks.

I can sort of understand where the OWS is coming from. But, can't get behind the whole protesting in the streets thing and clashing with police.

BTW, do they realize that crippling wall street also cripples Middle America? After all, it's where our investments/retirement accounts come from (for the most part).

Personally, I think it falls with legislation or lack thereof. Lest I go into my Glass-Steagle rant again.

[melliedee]

Discussion of Ellen Schultz's new book "Retirement Heist." Looks interesting.

As she writes, "What Immelt didn't mention was that, far from being a burden, GE's pension and retiree plans had contributed billions of dollars to the company's bottom line over the past decade and a half, and were responsible for a chunk of the earnings that the executives had taken credit for. Nor were these retirement programs — even with GE's 230,000 retirees — bleeding the company of cash. In fact, GE hadn't contributed a cent to the workers' pension plans since 1987 but still had enough money to cover all the current and future retirees."

Then Schultz delivers the clincher: GE was indeed burdened by a pension plan — the plan for top executives. The obligations of that plan, for a minuscule number of individuals compared with the 230,000 lower-level retirees, totaled $4.4 billion and had drained about $573 million from the corporate treasury over the past three years.

'Retirement Heist' compiles evidence of plundered pensions

[playajimbo]

I`m thinking that it is significant that the "so called 99%" be divided into the taxpayers and the tax users. So I`m re-dividing: 1%= wealthy 61%= taxpayers 38% freeloaders! Sorry, It`s just how I feel..... p.s.- some say that the 38% really should read 46% because some pay less than they recieve (net)...which shrinks the 61% taxpayers to 53%..... I think you get my meaning?

[playajimbo]

StephenB....said...Taint

[gingele]

Originally Posted by playajimbo

I`m thinking that it is significant that the "so called 99%" be divided into the taxpayers and the tax users. So I`m re-dividing: 1%= wealthy 61%= taxpayers 38% freeloaders! Sorry, It`s just how I feel..... p.s.- some say that the 38% really should read 46% because some pay less than they recieve (net)...which shrinks the 61% taxpayers to 53%..... I think you get my meaning?

Except you'd be wrong. Almost every single person in this country who makes a purchase and/or owns a home and/or has a job (as a W-2 employee) pays taxes.

I think you get my meaning?

[gingele]

Originally Posted by spaz!

Are you a OWS supporter?

I wholeheartedly support a radical reduction of corporate influence from politics.

[user 6507]

Originally Posted by gingele

I wholeheartedly support a radical reduction of corporate influence from politics.

That is SOME of the sentiment I share with the protestors, and I thought the SCOTUS ruling was a POS. But those who think they are "owed" things like forgiveness for student loans or a better and higher paying job just because they are breathing are full of it.

[gingele]

Originally Posted by StephenB

That is SOME of the sentiment I share with the protestors, and I thought the SCOTUS ruling was a POS. But those who think they are "owed" things like forgiveness for student loans or a better and higher paying job just because they are breathing are full of it.

I agree.

[ryberg]

Originally Posted by gingele

I agree.

Me, too.

I mean obviously you need to be a well-off manager of a disastrous hedge fund or head of a tanking bank or something along those lines to think you are owed some sort of forgiveness for bad financial decisions!

[playajimbo]

Excuse me Gingele. I meant a fair share of Taxes! In general, income taxes. But, thanks for correcting me......it`s been 30 years since I recieved my degree in Economics. No kidding....most of the things our gov`t has tried didn`t exist back then. I mean ...only in some obscure chapter warning about scams and such.

[ryberg]

Originally Posted by playajimbo

Excuse me Gingele. I meant a fair share of Taxes!

Ruh-roh! Better reevaluate the other categories, in that case, and particularly that top 1%!

[gingele]

Originally Posted by playajimbo

Excuse me Gingele. I meant a fair share of Taxes! In general, income taxes. But, thanks for correcting me......it`s been 30 years since I recieved my degree in Economics. No kidding....most of the things our gov`t has tried didn`t exist back then. I mean ...only in some obscure chapter warning about scams and such.

You claimed above that 38% of people in this country are "freeloaders" in that they don't pay taxes. This is simply incorrect.

How many of those 38% are subject to withholding? FICA? Sales taxes (state and/or local)? Property taxes?

It is a false statement (and I'm hearing it more often, unfortunately) that some huge number of people (you say 38%, I've seen it stated up to 50%) of people in this country are "freeloaders" who don't pay taxes.

You were an Econ major?

[DavidB]

The only bank account I have is one I keep open for the ATMs in Playa.

[Arnie]

I'm part of the 1%; I have worked hard since I was 17 & am 63 now. I have earned a substantial net worth & have paid taxes every year. I, also give a lot to charity; if you have read all the threads here over the last several years, you get that.

Personally, I think a lot of the 99 % are attention seekers; IMHO. I do agree that "Investment Banks", IE, Goldman Sachs ET AL are borderline crooks!