please oh please don't punish the wealthy by raising their tax rate from 34-39%

Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth.


Posted by mybudget360 in 401k, bailout, banks, bubbles, corporate power, crooks, debt, economy, government, i-banking, millionaire, psychology, sucker rally, wall street, wealth preservation

35 Comment Many Americans are not buying the recent stock market rally. This is being reflected in multiple polls showing negative attitudes towards the economy and Wall Street. Wall Street is so disconnected from the average American that they fail to see the 27 million unemployed and underemployed Americans that now have a harder time believing the gospel of financial engineering prosperity. Americans have a reason to be dubious regarding the recovery because jobs are the main push for most Americans. A recent study shows that over 70 percent of Americans derive their monthly income from an actual W-2 job. In other words, working is the prime mover and source of their income. Yet the financial elite have very little understanding of this concept. Why? 42 percent of financial wealth is controlled by the top 1 percent. We would need to go back to the Great Depression to see such lopsided data

are you kidding me?

Owner of Segway Company Dies in Segway Accident

The owner of Segway died on Sunday riding one of his company’s electric scooters off a cliff and into a river.
The 62-year-old millionaire Jimi Heselden crashed into the River Wharfe in Northern England while inspecting his North Yorkshire estate, according to multiple reports.

Heselden was riding a rugged-country version of the Segway, which was also recovered at the scene, according to the Telegraph.
Unveiled in 2001, the Segway was invented by Dean Kamen, who dreamed of launching a transportation revolution. The scooter contains five gyroscopes linked to a set of computers to monitor a rider’s center of gravity.

Heselden, chairman of Hesco Bastian and a former miner who earned millions from defense contracts, purchased the Segway company in early 2010







Read More http://www.wired.com/gadgetlab/2010/09/segway-death/#ixzz10kTfKaY0

fact is sadder then fiction

Just as they did in 2000, the Republicans are running this year on an economic platform of tax cuts, especially making the tax cuts permanent for the richest among us. So how did the tax cuts work out? My analysis of the new data, with all figures in 2008 dollars:

Total income was $2.74 trillion less during the eight Bush years than if incomes had stayed at 2000 levels.
That much additional income would have more than made up for the lack of demand that keeps us mired in the Great Recession. That would mean no need for a stimulus, although it would not have affected the last administration's interfering with market capitalism by bailing out irresponsible Wall Streeters instead of letting the market determine their fortunes.