Scotties Toy Box

December 5, 2018

The Rich, They Are Not Like Us

Filed under: News — Scottie @ 15:03

Very interesting and informative. We have to change things in our country before we have no country left to save. Hugs

Class Warfare Blog

The Republicans like to frame the rich as “job creators.” Well, one of the very rich, Alice Walton, reclaimed the crown as the richest woman in the world, as her fortune leapt from $33.8 billion to $46 billion over the past year. In September 2016, she was reported to own over US $11 billion in WalMart shares alone.

So, did she earn that money? Did she make that money? What did she contribute to society that so much money came to her? Is she creating jobs?

Owning stocks and investing in stocks has been shown to be the sham it really is. We are taught in school that selling stock is a way for businesses to finance their growth. This is clearly poppycock. Stocks are purely speculative instruments. The Apple corporation acquired $95 million in its initial stock offering. It hasn’t issued stock or gotten money from a new sale…

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  1. I never spend time worrying if this person or that person “earned” what they have. My son will inherit money. I earned it not him but will others say he doesn’t deserve what I worked so hard for? I’ve been very smart with my money over the years. Stripping paided me extremely well and by asge 21 I was already an actual millionaire. Today my personal net worth houses, business, cash is well over 5 million (I won’t give my real networth it would make you hate me too). My son could concievably never work a day in his life and still live a modest life.

    Does that mean my son didn’t earn it? Well he sacrified having me around as much. He had to live a pretty modest life even though we could afford much more extravagent. He also sacrificed for this income. I am paying for his college as long as he gets 2.8 or better GPA. But that is because I want to give my kids all I can. I don’t blame those who inheriterd money. I also don’t envy or hate the rich. Someone, someplace earned that money. Then someone invested and saved to keep it.

    I do hope I’ve given my son the tools he needs to build on the money he will come into when I pass away. he and his sister will need to manage the money or it could quickly vanish.

    Now as to does the Walton family “earn” the money? Walmart employes 2.1 million people. This doesn’t include sideline jobs. All the plants who make gooes, shipping companies, insurance companies, The army of employers who enjoy the money spent by walmart employees at thier stores. Walmart contrary to public belief pays well. McDonalds here pays 12$/hour and Walmart for a cashier pays 19$/hour. That is well above what most other employers pay for similar manual (aka lower education level) jobs.

    Little known she gives generously to the arts, education and children. She just doesn’t brag about it like Bill Gates and Warren Buffet. She also gives more than money, she gives her time and energy to her causes. Something I respect emensely. But because she is “conservative” she must be a bad person. Because she doesn’t brag about giving away 10s of millions and more she must be a bad person. Because she was born rich she must be a bad person.

    I don’t buy that garbage.

    Envy and hate of the rich is an excuse as I see it. I am poor because of them, I have not because of them. I never bought into that lie. I struck out and earned my money. How I got it was not all roses. But I made it my way and anyone who truly desires to be so and is willing to plan and sacrifice can do it also. Start by saving one day at a time.

    I saved 15% into my retirement since day one. I started a company the moment I knew stripping was so lucrative so I could save more legally into retirement. (profit sharing). I save 15% to reguilar savings every check. 30% of my money is saved and minus taxes I live on what’s left. I’ve made sacrifices to live that way. Sometimes not having cable or other “luxuries”. It’s dedication to a goal. I also believe in charity by giving of my time, myself and my resources (financial and otherwise). So I have sometimes only been able to give my time, talents and enery because I didn’t have the money.

    My wife has seen my savings and has been doing the same. As a nurse my wife earned between 40(when she started)-80(her last year before becoming a doctor 13 years later)k/year and is now worth in excess of 2 million. Half in retirement and half in long term savings. She is 34!

    It takes a mindset to do it. Yes it does. But anyone can do it. My son has been working at Walmat about a year now. and at 18 already has more than 10k in savings (retirement/saved). He is paying his own books and automobile and insurance, ect.. He works fulltime and goes to school fulltime. I’m very proud of him and he in ambisious and a saver. By the time he leaves college He will have no debt and 50k+ saved(plus interest, dividends ect).

    Again becoming rich is not a crime, it’s a mindset. What are you willing to do for it is the question. Passing money to your kids doesn’t mean they didn’t earn it. You know florida and you know an IT manager and an RN could easily live a rich lifestyle. We lived modestly instead so that we could continue our savings goals. My son is now off and doing the same.

    hugs, and best wishes

    PS Please don’t be angry I just feel she earned it via her life. Her dad was off building a business, she has paid tons of taxes. I just dislike the us vs them BS because I’m often on the “them” side of that argument. Being wealthy and even being given the wealth doesn’t make you a bad person.

    Private lives they are givers: “In what’s been a closely guarded family secret, Mr. John T Walton (the oldest of the Walton children) gave half of his then-$17 billion estimated fortune to charitable trusts and a third to their only child, Lukas Walton, now 29, an analysis of court documents reveals. Christy got the rest.”

    Liked by 2 people

    Comment by Michelle Styles — December 6, 2018 @ 09:27

    • Hello Michelle. I think you misunderstood the post and also my view of things. No one is against your son inheriting from you. No one is claiming you did not earn your financial situation.

      It becomes an issue only when a person who has not earned their financial situation claims special privileges because of their wealth while demanding those who are poor “pull themselves up by their bootstraps”. It is obscene that a person already wealthy gets such a huge tax cut of 12 +billion while the government then tells people living on Social Security that they have to a cut in benefits to pay for it. It is plainly stupid to call a Walmart family member who inherited their initial wealth and now simply is increase their wealth through investments a “job” creator while the workers at Walmart need public assistance because they don’t get paid a living wage. The beef is not that she inherited, it is the lower income public is paying for her huge jumps in wealth.

      I don’t mind Senator Chuck Grassly being a multi millionaire , but I do get really pissed off when they justify repealing the estate tax because…

      Sen. Chuck Grassley defended his party’s tax plan this weekend by saying that plans to reduce or eliminate the estate tax mean that people will use their money more wisely.

      “I think not having the estate tax recognizes the people that are investing,” Grassley (R-Iowa) told the Des Moines Register, “as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”

      When wealthy people make it harder for low income people to get housing and food, when the top income earners some how think they are better than everyone else and that the laws are not for them, I get angry. I remember when Pairs Hilton’s brother threw a complete melt down on a plane and got escorted off , he was yelling at people that he was above the law, his dad would make any charges go away , and that he could buy everyone of the people on the plane. Well he was correct, the charges were dropped.

      There is no way most lower incomes can save today. During the recession in the mid 1970’s people had more disposable income than they do today. Today someone on disability, social security, or minimum wage needs every cent just to pay rent, health costs, insurance, electric , and buy food.

      Think of it this way. I know people who are disabled who do not get as much as I do and do not have a spouse bringing an income. One person I know makes about 800 a month. Well our park is an older one and the rent is now $513 a month not including water and trash pickup. Now that person needed transportation so got an old car from a family member, but he had to pay insurance on it. That left very little for electric and food. How could he save.

      Most of the country lives paycheck to paycheck and is one large expense from failure.

      Ron and I are OK for now, but we do know people who are slowly falling behind because the costs of living has gone up, but their income has not.

      Like I said, I don’t begrudge her inheriting her fathers money. I don’t begrudge your children from inheriting what you have worked for. I do not agree that gives them the right to be above the laws, to claim others are less then them, to ask the public to subsidize their companies, and I really get steamed when the lower incomes are gouged to give a needless pay back to those who don’t need it.

      Other countries provided services for the people , and they do it by taxing those who can afford it, and not giving all the revenue back to the ones who don’t need it. This country did far better before the idea of slashing the upper tax brackets. The wealthy were still making a huge amount of money, but the programs for the poor were funded and the needs of the country met. But somewhere along the way the idea changed to take little as possible from the wealthy and drain all you can from the lower incomes. That is a path to ruin.

      And lastly Michelle, I couldn’t hate you, you are too nice a person. Hugs

      Liked by 1 person

      Comment by Scottie — December 6, 2018 @ 11:03

      • I don’t buy the “you can’t”. I am disabled and I didn’t let it define me nor hold me back. There are ways to go to school with grants for the disabled. You can get ahead. My parents raised 7 children on 25k a year or less. All seven of us continued our education. We did it on our own. You have to figure out what you can afford and save. You have to look at your situation not as hopeless but as it can be conquered.

        My son makes a wage. He has some advantages. True. But I’ve no doubt he could make it on his own. I had a brother take 7 years to finish college because his job paid so little he had to take classes part time as he could afford them. He worked two jobs to do it. Another went into the army. Martin went to trade school. My sisters worked and paid and one of them did get some loans though not many.

        Settle for community college for the two year because it’s MUCH cheaper. (3-4k/year) vs 20+k/year. When there is will there is a way. My daughter is disabled but she also doesn’t let it define her and what she can do. She has learning and physical disabilies as well as PTSD and being deaf. But I am teaching her the same as I taught Josef. If you want it, devise a plan and go get it.

        It does take a strong will, a desire to achieve. But it is always doable.


        Comment by Michelle Styles — December 6, 2018 @ 16:32

        • The man I told you about has an injection fraction of 7 on his heart. He can not and shouldn’t ever stress himself or try to work. It is a miracle he lived as long as he did. He went to live with family several years ago as he couldn’t keep up. I heard from him last summer. He may have passed for all I know.

          I did go back to work in 2010 against doctors advice. I managed almost 4 years. By my last year I was hospitalized and my doctors were seriously worried about my health. By 2014 I had lost the entire left leg Hip bone and had damage to the pelvis socket. By March I had serious spinal damage. I had to stop working. The bone loss and muscle / nerve issues were compounded by anemia and other things my body was suffering from due to the stress of working. My doctors have told me I will never be able to work again, even in an easier job. There are times I can not walk with out a walker.

          Back in 1996 I worked at Walmart. I know what they did to us then. I refused to play the game. They demanded everyone work one hour a day off the clock. They did other illegal stuff. They paid minimum wage. When I refused to work for free they fired me.

          I know what it is like to graduate school and have no where to live or nothing to eat. I did two tours in the US military. You know some of the jobs I have had after I got out. I had no choice if I wanted to eat I had to go to the military. I did enjoy it.

          I think we have a misunderstanding going on here. I am talking people who are working two or three jobs and not breaking 19 grand a year. The boy we took care of who lived with us moved out this May, and we are proud of him. He had to take three roommates to afford a place to live and to be able to pay his car payment. His car is a basic model. He works for the county and is doing really well. But with housing costs running over a grand a month it is hard to be able to afford anything on a single wage. I on the other hand came home from the Army in 1986. I was able to buy a new full feature mobile home and a brand new fully loaded truck. I still had enough left over for a few luxuries. Times have changed. I could buy enough for a month on what it costs Ron and I for a week. I have seen people in our own park suffer and one died because they couldn’t afford the healthcare they needed. There are people here living just on social security. They are in their 80’s and 90’s . They are wondering why it has to be so hard.

          I do wish your son and daughter the best. I remember the fight to get your daughter her hearing implant. I hope we can leave them a better world. I hope we do not trash this one so bad they suffer for what the last generations have done. I am watching Blue Planet 2 and I am amazed at the life our planet has and how fast we are destroying it. Many hugs


          Comment by Scottie — December 6, 2018 @ 16:59

          • Sorry I wrote three room mates when I meant it is taking three of them, so the young man who lived with us and two others. Hugs


            Comment by Scottie — December 6, 2018 @ 17:32

  2. ‘ My son could lead a modest life and never work a day ‘ but you follow this sound advice with ‘ he needs to build on the money with his sister or it will vanish ‘. I hope he takes the first suggested path way but I fear he may take the second and lose contentment.
    I’ve never met anyone who thinks they have enough but many who are convinced they deserve far more . The curious thing is when we look at others better off we often think they are getting far too much.
    It seems to me you are answering one rather angry post with an angry reply , I understand that because we look at the world and it makes us angry .
    I’m 76 now and live in modest retirement on the south coast of the UK. We brought up four children , more by luck than judgement , who all seem to be coping in the fast stream. I have no higher education and as a young man seemed to spend most of my time working never quite making that fortune that us humans always hope for.

    Liked by 1 person

    Comment by kersten — December 7, 2018 @ 07:56

    • I’ve never met anyone who thinks they have enough …

      Let me introduce myself. Seriously. I’m not going to reveal my age, but trust me when I say, I’ve been around awhile. Long enough to have reached a place in life that I’m content. I live in a nice home, have a comfortable amount in savings, and essentially don’t need anything to make life better.
      Of course, circumstances do change, so by necessity, I could probably want/need more. But at the present moment, I “have enough.”

      Of course, if someone came to my door from the Publishers’ Clearing House … well … what can I say? 😀

      Liked by 1 person

      Comment by Nan — December 7, 2018 @ 12:35

      • Well what can I say your a rare diamond and I do hope you get that someone from the publishers , not just to bring in more revenue but perhaps to fulfill a long desired wish.

        Liked by 2 people

        Comment by kersten — December 7, 2018 @ 13:42

      • You can say you have meet someone who believes she has enough. It’s one reason I give so much back as well. I have had fortune smile on my hard work and there are many less fortunate than I. I figure that I continue to save because it’s my nature to do so. Not because I don’t feel I have enough.

        I could retire tomorrow and continue to live comfortably until long after I die. So when we know we have enough it’s time to share our good fortunes with those who have not as much. All while balancing the future stability and the desire to live the life we choose too. That is what I do.

        /hugs and enjoy..

        Liked by 2 people

        Comment by Michelle Styles — December 7, 2018 @ 13:43

    • lol.
      You’re funny if you believe I was angry. I was posing questions and points in a direct manner without sugar coating. It’s funny so many wish people would say what they think and not pussyfoot around but when they do they must be angry. If you think I was angry ask my bud Scottie. He’ll tell you straight up. 🙂

      /hugs and more power to you and heres to many many more years.

      Liked by 1 person

      Comment by Michelle Styles — December 7, 2018 @ 13:30

      • I must be a good humorist I often get that answer but I apologize if I have taken directness of of manner as a sign of anger. It’s true I’m a bit of a pussyfooter my wife often upbraids me for indecision but I remember a saying of my old long departed gran ‘ it takes all types ‘.

        Liked by 1 person

        Comment by kersten — December 7, 2018 @ 13:48

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