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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (144188)	7/8/2014 12:23:04 PM
From: pcstel	1 Recommendation Recommended By Bocor Read Replies (2) \| Respond to of 149317

>koan: this is wrong. A zillion studies have shown the BEST and most effective way to transition form poverty to wealth is through education.> I am not saying I disagree with the importance of education. But, becoming wealthy is hinged on one, and only one factor. "Spending less than you make". I have friends with PhD's that make good money. They live in million-dollar homes, and drive "high-end cars", all heavily leveraged. Lot's of money coming in, lots of money going out. Are they millionaires? No! Even though they think they are, and spend money like they are millionaires. But, a the end of the day.. You run a Balance Sheet on them, and they are barely breaking even. Presenting the illusion of being wealthy, is not "actually being wealthy". Know many such types that got "wiped out" when the housing bubble burst. Which is when those that were actually wealthy stepped in and bought their houses in foreclosure at distressed prices. Having lots of formal education has the potential to increase your earnings potential, which has to be balanced by the costs, debt, interest of obtaining that potential. But, you can never obtain wealth unless you do one simple thing. "Spend Less than you Make". Financial Management is an essential part of "education" that can propel even those of us with only High School Educations to being wealthy. However, the personal fortitude to actually make the sacrifices early in life to reap the large rewards later in life is paramount. Education in Personal Financial Management and making the sacrifices is only solution. Our PhD friends just can't figure out how I live in the same neighborhood as they, yet I am completely 100% debt free while only holding a High School Diploma. >koan: The Scandinavian countries do it and so does most of the western civilization. Why not us?> You have no argument from me on this issue.. Now, we seem to agree on a taxing scheme to help pay for these services based on what some may view as a "Utopian society". Now, let's take a look at other items that separate us for the "Utopian Scandinavian Societies" First is the scope of illegal immigration on those countries, the social services that illegals receive, and the number of illegals deported, and or rejection of asylum seekers. Norway claim slightly over 5MM legal residents/citizens. Reports have shown that Norways Illegal Alien population ranges in the order of 9,000 to 10,000, or about .0018% ratio of illegals to legal residents. If we extrapolated these numbers to the US based on a population of 310MM. That would give us an illegal immigrant population of just over 550,000. That's right.. Half a Million. We have 15MM and growing every day. Also in Norway, illegals largely do not qualify for most social services because they lack a National ID. Last year alone, Norway deported over 3,000 illegal aliens, or 1/3 of the reported population. And is now deporting a record of 18 per day. This is your "Utopian Society". They can offer citizens "Monster" social services and programs because they largely do not fund Social Programs for illegals, and illegals are swept from their shores by authorities with regularity. >wrong again: look at how high taxes were during the 50's under Eisenhower. They went to 90% and we had prosperity and a vibrant middle class. No homeless; and In fact we never had it better. Public education was almost free to a PHD.< Sorry to tell you this but. You are not in Kansas anymore Dorthy. In the 1950's, the idea of picking up and moving to another country was nearly "unthinkable". The first Boeing 707 didn't fly until 1958. Today, the wealthy have a choice of "host countries" that will "expedite" citizenship applications. You can literally pick up and leave almost overnight. I already have dual-citizenship. It was mind-boggling simple to obtain. And we are talking countries that are considered "wealthier than the US". (Forbes ranked US #7). No, comparing the portability of the wealthy in the 1950's to 2014 is disingenuous at best. It is simply, "Wishful Thinking" on your part.