How the Rich Got Rich

Obvious conclusion #1 - Working for a salary won't make you rich. Uh - duh. http://bit.ly/MaBCb0 -Cameron ...

The fact that half their income is taxed at a flat 15% is crazy! Never understood separating "earned income" from "unearned income". In the end it is all "earned" and should be taxed the same! -J.J. On Sun, Jul 8, 2012 at 1:57 PM, Camer ----- Excess quoted text cut - see Original Post for more -----

> The fact that half their income is taxed at a flat 15% is crazy! Never > understood separating "earned income" from "unearned income". In the > end it is all "earned" and should be taxed the same! In my opinion it's much more complicated than that, and there is a very distinct difference. But then again this is why I support FairTax which taxes all spending equally, regardless of how you earned it. Also - my primary reason for paying attention to things like this is not so that I can stand by and scream how unfair it is, but rather so that I can learn "the rules" and follow them to make more money myself. If a salary isn't going to make me rich, I need to find out how to move beyond that. That's my takeaway from that anyway. -Cameron -- Cameron Childress -- p:   678.637.5072 im: cameroncf facebook <http://www.facebook.com/cameroncf>; | twitter<http://twitter.com/cameronc>; | google+ <https://profiles.google.com/u/0/117829379451708140985>;

My takeaway is that at some point each person too some sort of huge risk and it paid off. The stats that most people are only on it once or twice shows that to be the case. Large amount of money in a year gets you on the list and then you drop back down to then enjoy your "money in the bank". The problem is that a lot of people taking risk take it on the backs of others around them. That the "rich" keep taking these risks and it is hurting the middle class. Housing, Jobs etc. etc. It would be interesting to see more detail on what these "risks" are and what the impact of them are on society in whole. J.J. On Mon, Jul 9, 2012 at 6:46 AM, Camer ----- Excess quoted text cut - see Original Post for more -----

> The problem is that a lot of people taking risk take it on the backs > of others around them. That the "rich" keep taking these risks and it > is hurting the middle class. Housing, Jobs etc. etc. > I agree that this is the case sometimes, but it's also a gross oversimplification that's frequently used by radio talk show people to get folks "all riled up". > It would be interesting to see more detail on what these "risks" are > and what the impact of them are on society in whole. I think they are pretty well known. Some have negative impact, some have a positive impact. I think the largest negative impact is from fraud in all areas traditionally associated with risk. People playing by the rules have a much greater positive impact, generally. Least that's my view. -Cameron -- Cameron Childress -- p:   678.637.5072 im: cameroncf facebook <http://www.facebook.com/cameroncf>; | twitter<http://twitter.com/cameronc>; | google+ <https://profiles.google.com/u/0/117829379451708140985>;

Wish we had a mastermind group locally ... If you are truly interested you might want to find yourself one Cam. One of the rules to success in any arena? Surround yourself with people who have succeeded already in that arena. No matter what the subject.

> Wish we had a mastermind group locally ... If you are truly interested you > might want to find yourself one Cam. One of the rules to success in any > arena? Surround yourself with people who have succeeded already in that > arena. No matter what the subject. Huh - I hadn't heard of this specific name - Mastermind. I googled a bit and the concept reminds me alot of the reasons I go to ACFUG, Startup Meetups etc...  But this looks like it's typically a more vetted and veteran group that is handpicked, not just "anyone who shows up".  Worth reading more about for sure - thanks for the info! -Cameron -- Cameron Childress -- p:   678.637.5072 im: cameroncf facebook <http://www.facebook.com/cameroncf>; | twitter<http://twitter.com/cameronc>; | google+ <https://profiles.google.com/u/0/117829379451708140985>;

"The problem is that a lot of people taking risk take it on the backs of others around them. " No.  That is not the problem.  The problem is that people take risks and are then not held accountable for the consequences.  The banks are the best example.  American banks made horrendous decisions and were bailed out (and allowed to sit on the money).  As Europe burns, countries are implementing austerity to give banks money and keep them solvent.   Another example is the US auto industry.  Instead of letting it die so it can be reborn, billions of tax dollars were used to prop it up so it can fail again.   Or how about taking 200K in loans to get an art history major and then expecting someone to hand you a job in  a field where there is no demand so the loan can be repaid. There used to be a phrase to describe what happens to with bad decisions: rags to riches and back again in 3 generations.  It no longer applies. "That the 'rich' keep taking these risks and it is hurting the middle class. Housing, Jobs etc. etc. " All of the "rich"? How many of these middle class are employed by the "rich"? J - What we have is a bunch of entities that should have failed, it would have brought religion to the system, it would have been a good thing, but we prohibited that from happening. - Rick Santelli

Which banks are sitting on money? http://www.treasury.gov/initiatives/financial-stability/briefing-room/reports/tarp-daily-summary-report/TARP%20Cash%20Summary/Daily%20TARP%20Update%20-%2007.12.2012.pdf > The banks are the best example.  American banks made horrendous decisions and were bailed out (and > allowed to sit on the money).

Definitely handpicked. Some are invite only. Most are hard to find. Not open to tire kickers. I belong to a few online that deal with marketing specifically. It's a heady experience to share and receive awesome ideas with people that actually act on them. I need to be more involved myself. On Mon, Jul 9, 2012 at 1:41 PM, Cameron Childress <cameronc@gmail.com>wrote: ----- Excess quoted text cut - see Original Post for more -----