Top 400 Americans have nearly 1 Trillion Dollars -CNN

[ReiAyanami]

as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

 

[charrison]

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

And very few people stay on the top 400 for very long.

 

[glenn1]

Top 400 Americans have nearly 1 Trillion Dollars -CNN

Which is probably a small fraction of the economic value they've added to the GDP.

 

[alchemize]

It isn't exactly cash sitting in a bank The bulk of it is in stock in companies they own.

 

[User1001]

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

The total national debt is much more than one trillion. Not a good reason to cut taxes. The government needs to remain (in my opinion) how it was before the Bush Administration without deficits.

 

[User1001]

Originally posted by: glenn1

Top 400 Americans have nearly 1 Trillion Dollars -CNN

Which is probably a small fraction of the economic value they've added to the GDP.

What he said

 

[ReiAyanami]

The bulk of it is in stock in companies they own.

which is how they manage to outpace inflation by far. well atleast bill gates is far from his record $100 billion a few years ago during the boom.

 

[ElFenix]

Originally posted by: ReiAyanami
The bulk of it is in stock in companies they own.

which is how they manage to outpace inflation by far. well atleast bill gates is far from his record $100 billion a few years ago during the boom.

yeah its a real good thing the market has lost so much in the last few years, since more than half of all americans have their retirement tied up in it

 

[XZeroII]

Why don't you do something about it instead of whining about it.

 

[Gonad the Barbarian]

Originally posted by: XZeroII
Why don't you do something about it instead of whining about it.

Rob them?

 

[ReiAyanami]

via taxes

 

[jaydee]

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

And by liquidating their worth to fund the deficit, you would see a catastrophic stock market crash.

 

[ReiAyanami]

only if all at once. bill gates has been regularly dumping 10 million shares a week. or they can arrange private sale. plus if a company's true value were correct, then the market price would return to equilibirum rather quickly.

 

[Rockhound]

Originally posted by: User1001

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

The total national debt is much more than one trillion. Not a good reason to cut taxes. The government needs to remain (in my opinion) how it was before the Bush Administration without deficits.

And if you took away this entire trillion dollars from those 400 by effectively raising their taxes to 100%, the government would still be in debt to the tune of about 4 to 4.5 trillion dollars. So then what?

For your information as well, most of the tax cuts haven't even taken place yet. Not by a long shot. And there are still deficits which means...they are spending too much money.

 

[User1001]

Originally posted by: Rockhound

Originally posted by: User1001

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

The total national debt is much more than one trillion. Not a good reason to cut taxes. The government needs to remain (in my opinion) how it was before the Bush Administration without deficits.

And if you took away this entire trillion dollars from those 400 by effectively raising their taxes to 100%, the government would still be in debt to the tune of about 4 to 4.5 trillion dollars. So then what?

For your information as well, most of the tax cuts haven't even taken place yet. Not by a long shot. And there are still deficits which means...they are spending too much money.

I apologize, I was unclear. By not cutting taxing, I meant no additional tax cuts. I would be horribly against the top 400 paying off the national debt, or any group for that matter.

 

[ReiAyanami]

a good debt level is $2.5-4 trillion, as government bonds play a critical role to the economy, however we can't keep borrowing from the future forever.

as for the "paying the deficit" comment that was a jest to put things in perspective. just imagine the (current annual) deficit being paid by so few people enough to fit in just 3 dozen SUVs

 

[Vic]

Originally posted by: ReiAyanami
as there was no response from teh OT forum, decided to stick it here

http://www.forbes.com/2003/09/17/rich400land.html

just 400 ppl could pay the deficit twice over, to put it in perspective. double tax cuts for everybody!!

They do not have $1 trillion dollars, they control $1 trillion dollars.

I despise how you people try to slant it as though Bill Gates has that $46 billion in his bank accounts or his 401(k). It is nothing like that and you know it.

edit: I love how 6 out of the top 10 don't even have college degrees and how the top 4 tech billionaires (Gates, Allen, Ellison, and Dell) are all self-made college dropouts. That's what really ticks you off, isn't it?

 

[User1001]

I believe their excuse was that they didn't find the system right.

 

[Vic]

"Evil" Bill Gates Donates $168 Million to Fight Malaria

 

[Akaz1976]

Quote

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Top 400 Americans have nearly 1 Trillion Dollars -CNN
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Which is probably a small fraction of the economic value they've added to the GDP.

The wal mart clan (4 of top 10?) has done nothing but take up space!

Akaz

(okay maybe a tad harsh )

 

[burnedout]

Originally posted by: Akaz1976

Quote

--------------------------------------------------------------------------------
Top 400 Americans have nearly 1 Trillion Dollars -CNN
--------------------------------------------------------------------------------

Which is probably a small fraction of the economic value they've added to the GDP.

The wal mart clan (4 of top 10?) has done nothing but take up space!

Akaz

(okay maybe a tad harsh )

"Family last year donated $750 million-plus, much to education, including $300 million to U. of Arkansas."

With the exception of the U. of Arkansas donation, I disagree.

 

[lozina]

donations = tax refunds.

they avoid taxes and project a good image of themselves with the same stone.

 

[ReiAyanami]

err, but with a 46% difference or whatever the highest tax bracket has been double-cutt to.

plus bill gates said he is donating all his money except $10 million before or around he dies. his kids only get $10 mil, we get all the rest... MicroSoft ---> PeopleSoft. then we can blame ourselves with the browser crashes and a new e-mail worm ravages outlook express ever other day...

 

[Orsorum]

I am failing to see why this is a problem.

 

[lozina]

I admit, I am impressed with Bill Gates' donations. I havent heard that claim though- that he's donating everything except 10 million? Are you sure he didn't say that while drunk ?