RSS

When did “rich” become a four letter word…

13 Jul

Wealth in America

Wealth in America (Photo credit: uvw916a)

When did “Rich” become a four letter word?  Have you ever caught how many of the Liberal / Democratic candidates and politicians sneer when they say “Rich”?  And have you wondered why Republicans fall in line with anything that looks like it will help anyone with capital to invest [some say, invest in political campaigns]?  Let me shed some light on this situation from my point of view…

First, maybe we should look at the word “Rich”.  Here is a simple definition from Dictionary.com:

having wealth or great possessions; abundantly supplied with resources, means, or funds; wealthy.

It is very interesting to review the definition of the word “Weath” by Wikipedia (too long for this article, but a good read all the same).  I personally don’t see anything inherently wrong with having abundant resources.  What I do feel gets stuck in people’s view is the opulence that some glitterati show, almost mashing all of the world’s face in the fact that they aren’t as wealthy, pretty, etc. as they are (think about Paris Hilton here).

What even bothers me more is the hypocrisy with which the politicians of this day bandy these terms around.  First, most of the politicians are fabulously wealthy – think President Obama ($1,728,096 last year’s return), Mr. Romney ($20,901,075 estimate for last year), Nancy Pelosi (I didn’t want to add it up, but take a look).  Why are these politicians always bashing the “rich” – both Democrats and Republicans?  Because it is popular and the vast majority of Americans like to think that they are middle class.

THE TRUTH – Americans, one and all, are wealthy.  All of us.  So we should change our thinking.  Here are the steps I think that all of us in the USA should take:

  1. Start using the word “prosperous” and celebrate it – how could you be hateful or want others not to be “successful and flourishing” (part of the definition).  Semantics I know, but we all need to be careful with words.
  2. Don’t vote for anyone who spews garbage about the “rich” or ask to “sock it to the rich”, and that includes Republicans, Democrats, or Libertarians.
  3. Implement a flat tax – no deductions, no progressive tax implementation.  We all pay the same percentage of everything.
  4. Don’t favor the “rich” in anything (especially taxes) – they tend to take care of themselves, that’s why they have those abundant resources.  I tend to listen to Warren Buffet on this.

This article may seem like it favors Republicans, but let me tell you, I am personally as fed up with them as I am with Democrats.  I tend to vote Conservative, but I do not think either side is representing us well. (My opinion)…

SEC puts off implementing rules associated with the JOBS Act

[This information taken from an e-mail sent from PPM Logix]

 

Seal of the U.S. Securities and Exchange Commi...

Seal of the U.S. Securities and Exchange Commission. (Photo credit: Wikipedia)

Securities and Exchange Commission Chairman Mary Schapiro testified to Congress on Thursday, June 28th, regarding the general solicitation ban on Regulation D Private Offerings, saying “the 90-day deadline does not provide a realistic time frame for the drafting of the new rule, the preparation of an accompanying economic analysis, the proper review by the commission, and an opportunity for public input.” She went on to say “I expect that in the next two days we will publish time line for lifting the general solicitation ban and it will be done this summer.”

Read the blog at www.ppmlogix.com

Where have the blog entries been…

We have gotten a good amount of mail from our subscribers asking what happened to us.  First, I [Robert C. Rhodes] have been on a 13 day vacation with my kids in Washington State on Whidbey Island – what a beautiful couple weeks.  No rain, very unlike Washington, and lots of friends.  Secondly, we have signed up three new clients and are busy putting the initial consulting engagements in place.

Something struck me while I was there in Washington State – there were a lot of new cars on the road which wasn’t the case 30 years ago when I moved away, and the prosperity that is shining on Houston, Texas where I live now (actually Sugar land, but close enough) is not shining on Washington.  Many have dropped out of the work force and many, many stores are empty.

Advertisements
 
3 Comments

Posted by on July 13, 2012 in BLOG, Business, Public markets

 

Tags: , , , , , , , ,

3 responses to “When did “rich” become a four letter word…

  1. catbrules

    September 25, 2013 at 5:42 pm

    Dear Mr. Hokey, thank you very much!

     
  2. stan

    July 18, 2012 at 8:03 am

    Although I am not a wealthy or even rich man I have not problem with someone being so. One’s wealth, as long as obtained legally, is none of my business. All I ask from our government is to allow everyone the opportunity to become wealthy. Hokey as it may appear I end all my letters not with Sincerely, but with Be Prosperous.

     

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: