23/02/2018 · The assassination of President John F
Will Your Child be Rich or Poor
I’m always reminded of the story of the wealthy Ross Perot and how he managed to finagle his personal tax rate down to 8.5% (with whispers of 1%!). Even the awesome Warren Buffett states the rich pay less tax than the average working stiff; to be more precise, workers pay more tax than owners.
Thin Gray Line: Confederate Veterans in the New South
And Ed, for the record, SST believes in prudent spending, diligent saving, building wealth. He simply disagrees with you that you can become a millionaire from investing a few $1,000 in mutual funds as you make it sound. And he brings a lot of evidence to prove his point. Nothing wrong with that. On the other hand, your approach is trust me mutual funds with fees of 3% will make you rich. Ed, who are these MF managers so we can do our own due diligence? Oh, that you cannot say. Until you come clean, SST is not wrong. And why is FT (or any other finance blogger) not using your awesome MF managers either?
SparkNotes: The Great Gatsby: Important Quotations …
Actually, ultra-conservatives and their wealthy financial backers may not have to bother to eliminate what remains of inheritance taxes at the federal level. The rich already have a new way to avoid inheritance taxes forever -- for generations and generations -- thanks to bankers. After Congress passed a reform in 1986 making it impossible for a "trust" to skip a generation before paying inheritance taxes, bankers convinced legislatures in many states to eliminate their "rules against perpetuities," which means that trust funds set up in those states can exist in perpetuity, thereby allowing the trust funds to own new businesses, houses, and much else for descendants of rich people, and even to allow the beneficiaries to avoid payments to creditors when in personal debt or sued for causing accidents and injuries. About $100 billion in trust funds has flowed into those states so far. You can read the details on these "dynasty trusts" (which could be the basis for an even more solidified "American aristocracy") in a by Boston College law professor Ray Madoff, who also has a book on this and other new tricks: (Yale University Press, 2010).
How the Rich Rule | The American Conservative
But experts claim the obvious division between rich and poor students could be harming the confidence and education of those from rural or impoverished families.