To: elmatador who wrote (110149 ) 1/26/2015 6:53:24 AM From: THE ANT Read Replies (2) | Respond to The data will come in very weak with a strong dollar.US tourists headed to Europe this summer and not the other way around. As far as income inequality don't worry..By allowing this degree of wealth accumulation we have too much capital and too low returns. There will be little real return on capital for at least 10 years and likely losses. Some of the wealthy will spend more money when they realize they can't accumulate more.By the way it is the 0.1% that live off capital that are the problem. They hide behind the 0.9% to not be noted. Those in the 0.9% who are their because they are working should be left alone or the loses to society will be great. I had an Indian friends son call me from another state for advice.He just finished an Emergency Medicine Residency and wanted to know whether to work on a W-2 at lower pay for Federal Government or 1099 at a higher figure. I explained the tax take on his last 100K and advised to make his own decision but to recognize that, no the Federal Govt will never go bankrupt, that even if he accumulates capital it will be hard to make money off it in the next 20 years, that unless he does fancy tax planning the 1099 will make him look like the 1% and that is dangerous, and that even if he can do fancy tax planning it will not likely last. I told him work smart not hard, blend in with the 99%,read this board, gift his money to his children early, manage his inheritance well and be spry moving in an out of things as the state allows--be quicker than the system. Over all enjoy life to the fullest and don't let the 0.1% or the 70% make you their slave. We are smarter than the rest, harder working than the rest,and if we become wise we will write the rules and not them. We must remember we have a responsibility to all, but in the end even they are better off if we play the greater role in defining that responsibility and not having it imposed on us. And yes spend a little time to plan for things 50 years down the road (not talking about retirement) you will be almost the only one.
