How to tell if someone is rich

Discussion in 'Bad Dog Cafe' started by BigDaddyLH, Jul 9, 2018.

  1. Matt G

    Matt G Tele-Holic

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    No joke. I'm not across NZ arrangements, but on this side of the ditch your average koala's paying for a lot more than having the rubbish picked up. It's not 'rates', it's tax, and there's no opting out of any of it. You might as well try to arrange a social contract with the mafia.
     
  2. Kriticaster

    Kriticaster Tele-Holic

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    @Mad Kiwi I understand that NZ has also abolished inheritance tax too... which is nice as my roots are in NZ and maybe one day I’ll inherit something...

    It’s nice of the Government to keep their filth hands off what’s left of someone’s earnings after a lifetime of taxation ;)
     
  3. Kriticaster

    Kriticaster Tele-Holic

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    Of course here in Greece the government taxes everything they possibly can... on top of all the usual stuff...

    Top up your mobile phone... Mobile Telephony tax!

    Using electricity... there’s a tax on that too!

    Basically hitting up the little guys for the bill left from the Big Guys fun and games...
     
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  4. raito

    raito Poster Extraordinaire Silver Supporter

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    If they're rich, their chef asks what the heck you're doing in the kitchen.
     
  5. Uncle Daddy

    Uncle Daddy Tele-Holic

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    I occasionally socialise with a guy that owns a large haulage business. His trucks go around with his name all over them, so folk think he's minted. He told me once that all he really owns is the debt that the business created, but as long as the wheels go round everyone gets paid.
     
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  6. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    Because they won't release it ;)
     
  7. Unionjack515

    Unionjack515 Tele-Holic

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    The answer is you can’t. Hopefully it’s been stated already somewhere in the 11 pages of this thread. Some of the (monetarily) wealthiest people I know will wear a T-shirt and board shorts for as much as their lives as possible. Some of the best dressed people I know are also the most over-leveraged. Same with cars. Same with houses. Of course there are other cases where the exact opposite is true. There’s no use in trying to crack the code, there isn’t one. As for the iPhone indicator; silly.
     
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  8. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    So the article statistics are faked?
     
  9. noah330

    noah330 Friend of Leo's

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    Stole that line from Bill Cosby.

     
    Last edited: Jul 11, 2018
  10. getbent

    getbent Telefied Ad Free Member

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    while it is true that Larry Ellison is a complete psycho and #metoo abuser... he is a very successful yacht racer at the level that Ted Turner achieved... he absolutely gets on his yacht... just keeping it factual... no love for that dude.
     
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  11. noah330

    noah330 Friend of Leo's

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    Where I live there are a lot of rich people. I live in Potomac, MD which (according to Google) has the highest median household income ($112,000) of any place in the United States with a population of over 25,000.

    Growing up, I was raised by a single parent in one of the poorest cities in Massachusetts (the median income right now is $21,000), so I guess I have seen both sides of things. My wife's parents were not millionaires (her dad was an officer in the Navy and her mom didn't work) but her grandparents it turns out were a lot richer than anyone thought but nobody knew that until her grandfather passed (Greek immigrant who owned a restaurant and a lot of property).

    My wife was on track to be a doctor and had just graduated from Brown with a degree in biology when she met me. I had just finished at Berklee and between us we had almost $150,000 in debt - and this was in the 90s. Being the genius that I am I knocked her up and we got married. She ended up going to school part time to become an RN and moved to NYC with me where I was trying to build my career in the music industry.

    Lucky for us it worked out ok, but there were a few years there that were really tough. When our third child was born I took over as a stay at home dad while she completed her doctorate at Hopkins and realized her dream. Oddly enough, my two older kids are really normal and the one who spent all his time with me is a complete madman.

    I don't really consider myself to be rich and I try really hard to let my kids know that while they're surrounded by a bunch of rich kids that they need to work hard. My oldest has a job at a fast food place and also works at one of my wife's cousin's restaurants.

    The thing I have learned from growing up how and where I did and ending up how and where I did is that I never felt like I was poor growing up because I was surrounded by a lot of poor people - and a lot of them were much poorer than I was. Now, I'm surrounded by a bunch of rich people - and most of them are a lot richer than I can ever hope to be.

    At the end of the day having a little bit of money makes things easier than when you don't but it really doesn't make you any different. When I go home to see friends and family I still like eating at the same places I did when I was a kid and I still like drinking 40s with the people I drank 40s with when I was in middle and high school but I also like hanging out with my neighbors here.

    If I'm proud of one thing it's that I don't own one suit and the only pair of tan pants I have still has the tags on them.
     
    Last edited: Jul 11, 2018
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  12. MattyK-USA

    MattyK-USA Tele-Meister Silver Supporter

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    Well, no bragging going on here, mate - sorry :)

    It's all relative. But it's not boasting when I respond to people claiming all sorts of nefarious crap on the part of successful people, or that I'm responsible for others being impoverished, just because I got to where I am. I make no apologies for the life choices that got me here. Feel free to resume the hate. :)
     
  13. studio1087

    studio1087 Telefied Silver Supporter

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    I know that people are wealthy when they donate over one million dollars to a local school or hospital and tell no one. I'll find out about it in local media. I see three such people weekly. Bless them.
     
  14. boris bubbanov

    boris bubbanov Telefied Ad Free Member

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    When my Aunt Ruth died, she had this huge passel of Kodak stock and it turned out to be worth a ton. She made a real, real nice proceeds bequest to my grandparents; to a few others, but it still left something like 4 million she gave to her church. But she wasn't rich. She was just a very nice lady who happened to accumulate a nice amount of money. She had step children, having married late in life but those guys were silly - they thought Daddy had the real money and they were worried about the stepmother getting their inheritance. Not the other way around.

    Rich folks can be really friendly and gracious and generous, but knowing they have much more money than you, defines your relation to them. But lets suppose the "rich" person is oblivious to the wild success of their investments? Suppose they never take on the mantle of their wealth in any way, or they assume your investments are similar to theirs? Then, I would say, they're not "rich" in the semi-pejorative sense. They're just very nice people who accidentally have a very sound balance sheet.
     
    Last edited: Jul 11, 2018
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  15. moosie

    moosie Doctor of Teleocity Silver Supporter

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    Every country, every city, town, community... no matter where in the world... has infrastructure costs: roads, schools, government buildings, payroll for the people who work in those places. Most medium-sized towns, and on up, will have a public water supply, and possibly some formalized garbage collection.

    We live just outside of town and the public water pipe stops about five houses away from us. So we don't pay a water bill, but we pay more in other ways. Drill well, purchase pump, pay for electric to run it, purchase softener, purchase salt to feed it. And then because our water still tastes not that great, we have bottled water delivered for drinking.

    We live in an ex-farm community, and our property taxes are relatively low. But they about doubled when we finally had to bite the bullet and build a brand new central high school. The building was paid for by a bond issue, and the taxes pay off the bond.


    The only way it's possible to avoid charging residents for public services - in whatever form - is if there's revenue coming from another source. For example, natural resources in high demand for export. Alaska has oil. In exchange for allowing oil companies to take it all, and build massive pipelines to cart it off, the state and towns receive enough to cover the costs that would normally be shouldered by the resident population.


    So, how DO you pay for your public services?
     
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  16. Matt G

    Matt G Tele-Holic

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    Simple. You pay for your public services on a per-use basis, just like electricity or water. If that's not possible, you do it on a per capita basis. If the calculation is on some other basis, it's not 'rates'. It's just the government dipping into your pocket, based on how deep they think your pocket may be.

    None of which changes my essential point, which is that (under present arrangements) the government owns our property, and we're just renting from them. Try withholding your taxes because you don't need a new central high school, and you'll see what I mean.

    I'm straying into politics here. I'll quit while I'm still ahead.
     
    Last edited: Jul 11, 2018
  17. moosie

    moosie Doctor of Teleocity Silver Supporter

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    I'm not asking a political question. I'm asking who pays, and how it's structured, not whether it's right or wrong, or if you like it. You seemed surprised that most or all of us pay property tax on home ownership. You mention paying for utilities like water and power, but you haven't answered my question: who pays for your local town infrastructure like buildings and payrolls?

    I'm pretty sure the answer is "you do", but I'm curious how it's structured, if not in the form of a tax on property. For instance, we have fed and state taxes based on income, not property. But local costs are covered by tax on those who essentially LIVE here, not those who might make money here. Because while it's easy to say you made your income in Connecticut or NY, it's not easy to track if you made that income in this town or that. But where you LIVE is where you'll use the most infrastructure, so it seems appropriate, in lieu of a better solution.

    If you can only think of economics and public funding in terms of government theft, that's unfortunate, and yes, we will have to stop it here.
     
  18. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    I think the reason property tax is common is that it's easy to do -- it's hard to hide a house!
     
  19. Piggy Stu

    Piggy Stu Friend of Leo's

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    I think the fire brigade should just be paid for by the person with the house burning down: and if they cannot pay then their house should burn down and the firemen not get paid

    (This is SARCASM, not POLLYTICKZ)

    People should read up on bona vacantia when considering property reverting to a state. If it never did, and we all died intestate, the whole country would be owned by the dead
     
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  20. Tomm Williams

    Tomm Williams Tele-Holic

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    I hope my dog changes me more than the opposite. I'm one ugly dude !
     
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