Rich people in america have too much money, says the world’s second-richest man

[Ghostpanther]

I'm listening to Buffet's interview on the PBS Newshour show. He said he pays 19% last year in taxes. His cleaning lady paid 15%.

Well, he could so he would feel better, not take all those tax breaks? Kind of hypocritical to condemn the system when he also takes advantage of it.

[Surfd]

That is good. He can afford it. Not up to him however what others do with their money. His opinion is no more worthy of consideration than anyone else.

Oddly enough, so can pretty much 100% of the 1%. Hell, probably even the 10%.

[Ghostpanther]

Oddly enough, so can pretty much 100% of the 1%. Hell, probably even the 10%.

Of course. But it is their choice in any circumstances. Even those say, are single and make 100k a year, I am sure could be giving more and still afford it. The point is, none of my business how much or whom they give it to.

[Drusin]

I don't really care how much money rich people have, it's not stopping me from making more money, the only thing doing that is myself. But I'm content with where I am in life.

[Mad_Murdock]

You're underestimate how much money the 1% makes relative to the 10%. The average top one percenter earns 19X what the average American does. The rest of the top 10% earns about 3X what the average person does.

So even if you're in the top 10%, you're only earning 1/6 of what the top 1% does.

Maybe we'll learn something later, but Buffet seems to be a shining example of someone who has made billions in an overall fair and honest way. So if he didn't break any laws and cheat and swindle people out of there money, why is it a problem with how much money he has made? He was smart about his money, he worked within the system and he succeeded. I still don't get the argument that because he succeeded we need to take at least half of his money.

But I do support things like a flat tax or a fair progressive tax, I don't think our jealously of the rich means they should pay half. Though with the way the Govt likes to waste money, even if Buffet and others did have to pay 50% of their income to taxes, the poor would still be poor

[zenkai]

Warren Buffet is second, Bill Gates is first and both seem like nice people who give a lot of their money away to charity. My guess is they are both Democrats which is interesting to me..

It's easy to give money to Charity when you have way more than you will ever need. Which is why I respect people who have little and give their money and/or time to charity way more.

Why are you surprised they are Democrats? Democrats are just like Republicans, both are in the pockets of corporations.

[Kathandira]

a duel income house of 100k/year really isn't rich FYI esp in larger city areas. It's not poverty of course but i couldn't consider it rich.

That said if they didn't break the laws earning the money they have no obligation to give it away less the want to. Personally I'd love to be that rich to give it away, via my own scholarships, and stuff but to date i'm not.

In New Jersey, a 100k house hold income is middle class. Anything below 70k is lower class.

[cuafpr]

It may not be rich, but it's enough to live comfortably in most suburbs and afford to own your own home, two cars, health insurance, life insurance and pay someone else to keep your yard and house in tip top shape and raise two kids.

You know, the American Dream? For the non-business owners, anyway.

up till pay someone to keep the yard and house you are correct. paying for those 2 services without giving up something else you wanted would be a stretch imo. I actually looked into a maid service and it would have been 100+ per cleaning trip, yard care is even more. At 50-70k yes you can live a life without worry about bills/food etc... but to me that's not rich. Rich would be luxury items, no budget living year around and likely in the top 1-5% or better (which isn't as much as most people think)

1% per state:
https://www.washingtonpost.com/news/...=.e9b663179883

salary and happiness:
https://www.forbes.com/sites/learnve.../#22c0f7293247

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In New Jersey, a 100k house hold income is middle class. Anything below 70k is lower class.

yep! which makes me glad i dont live there, I'm a bit below 100k and i'm border like upper middle/upper for my area

[Kathandira]

Of course. But it is their choice in any circumstances. Even those say, are single and make 100k a year, I am sure could be giving more and still afford it. The point is, none of my business how much or whom they give it to.

It is your business when the rich aren't taxed enough, and your taxes keep raising. The rich stay rich, and poor get poorer.

[Alexeht]

Such a smart guy, he knows the issue, but do that means he will give most of his money to poorest people? I don't think so.

[Kathandira]

up till pay someone to keep the yard and house you are correct. paying for those 2 services without giving up something else you wanted would be a stretch imo. I actually looked into a maid service and it would have been 100+ per cleaning trip, yard care is even more. At 50-70k yes you can live a life without worry about bills/food etc... but to me that's not rich. Rich would be luxury items, no budget living year around and likely in the top 1-5% or better (which isn't as much as most people think)

1% per state:
https://www.washingtonpost.com/news/...=.e9b663179883

salary and happiness:
https://www.forbes.com/sites/learnve.../#22c0f7293247

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yep! which makes me glad i dont live there, I'm a bit below 100k and i'm border like upper middle/upper for my area

It's pretty sickening. I make roughly 50k, and my g/f makes roughly 35k. We should be doing pretty well for ourselves. Yet we can only afford a small apartment, and don't have a ton of money for vacations or anything. Granted, we both have car loans, student loans, and other debts. Once all of that is paid off, we will have more money to work with, but that isn't going to be for quite a while.

[cuafpr]

It's pretty sickening. I make roughly 50k, and my g/f makes roughly 35k. We should be doing pretty well for ourselves. Yet we can only afford a small apartment, and don't have a ton of money for vacations or anything. Granted, we both have car loans, student loans, and other debts. Once all of that is paid off, we will have more money to work with, but that isn't going to be for quite a while.

I don't envy you... when i was house looking here i watched HGTV house hunters for tips and they did a lot homes in that area and the prices were INSANE like oh this is a steal 1,000 sq/ft for 600k and needs 150k in work. like WTF!

[Najnaj]

Thankfully America has Donald Trump and the Republicans in control now, so all those issues will be resolved shortly.

Unfortunately the quality of arguments from your average Trump supporter makes it impossible to tell if this is trolling or not.

[Gorgodeus]

Hint: Warren Buffet is not the second richest person in the US. Amancio Ortega is, worth $67 billion. Buffet is only worth $60.8 billion.

Nm. Ortega is European. The article does claim he is the second richest man in the world, which is false.

[Sunseeker]

I'd be happy to take some of that money off his hands.

[ItachiZaku]

Never been a fan of Buffet, but he's done some good shit.

[Ivanstone]

I don't really care how much money rich people have, it's not stopping me from making more money, the only thing doing that is myself. But I'm content with where I am in life.

You're making money until a rich person decides that you're not. Or do you think all those people back in 2008 lost their jobs because they weren't bootstrapping sufficiently?

[Kathandira]

I don't envy you... when i was house looking here i watched HGTV house hunters for tips and they did a lot homes in that area and the prices were INSANE like oh this is a steal 1,000 sq/ft for 600k and needs 150k in work. like WTF!

Indeed. A small home in a decent area in NJ is around 300k. And that is in a suburb where you have a pretty small yard, and your neighbors are only about 30-50 feet beside you.

[cuafpr]

Indeed. A small home in a decent area in NJ is around 300k. And that is in a suburb where you have a pretty small yard, and your neighbors are only about 30-50 feet beside you.

300k here would get you 3,000 sqft or more if you lived a bit further out

[Xisa]

So, for those who aren't paying attention to how "Trickle Down Economics" works, in 1982 the 400 Richest people in the world were worth 93 Billion dollars.

Bill Gates, BY HIMSELF, is almost worth that much today.
In 35 years.

If that doesn't tell you the problem with the Reagan / Republican "Trickle", you're being obstinate for personal gain, and nothing else, because there are no facts to back you.

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I don't really care how much money rich people have, it's not stopping me from making more money, the only thing doing that is myself. But I'm content with where I am in life.

No, it actually is stopping you. You just aren't paying attention.