Rich getting richer; poor getting poorer

Vote yes if you agree; vote no if you disagree:

If ALL the money were to be taken from the rich and given to the poor, in a relatively short time period, the rich would have all their money back and the poor would be getting poorer? (Or is it more poor)

How about some more parameters like:

Yes, because the poor keep doing the things that keep them poor, and the rich keep doing the things that keep them rich.

Yes, because Cityboy and the evil Republicans keep taking money from the poor and giving it to Major League baseball players.

Cityboy said:

How about some more parameters like:

Yes, because the poor keep doing the things that keep them poor, and the rich keep doing the things that keep them rich.

Yes, because Cityboy and the evil Republicans keep taking money from the poor and giving it to Major League baseball players.

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I pick the second one....

First one sounds like Boortz ....

It also sounds like the Peter Principle.. Where people will rise to the level of their incompetance... So,if you're content in being on welfare(or poor) you will continue to be that way.. If you have the desire and ability to be rich, you will be that way..

I heard somewhere that this is what happens to most of the multi-million dollar lottery winners.

They wind up back in the trailer court eventually.

Av8r3400 said:

I heard somewhere that this is what happens to most of the multi-million dollar lottery winners.

They wind up back in the trailer court eventually.

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I'd like to give it a try

You have to make a living one way or the other, you can chose to work for money, or IF you have money you can make money work for you.................that is how they got rich, stay rich, and would be rich again if they lost it all.

Lottery, with this windfall, you have to provide an income that you can live on for the rest of your life that will NOT run out. Annuities come to mind, but this is YOUR ONLY INCOME now. Most think that what ever millions they have will last a long time.

If you have 10 million and spend without making anything, all of this on junk, you will be right back where you started. 10 mill would get you 100,000.00 a year and NEVER touch the principle easily, think about what you live on now. you also have to consider now you dont have insurance, or a job to take up 8 to 10 hours a day, so you have more time to spend.

10 mil aint much if you dont work it right.

HGM said:

I'd like to give it a try

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me too, anytime and I am not going back to trailer court.......dont live there now, wont then.

ddrane2115 said:

10 mill would get you 100,000.00 a year and NEVER touch the principle easily

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Danny,

That's only 1%. With $10 mil invested, I hope you can do much better than that (but I get your point).

As already noted, many lottery winners, sports and movie stars (basically those with a huge influx of mega-$) end up broke due to lifestyle changes.

No idea of the percentages, but I'd guess that 50% of each group would find themselves in their previous state within a few years - as far as the rest, you'd have a wide mix of reversed states and everything inbetween.

Dang now all I can do is think of scenarios, far faster than I can type them....oh well is now in (even if I should have tossed a nickel to compensate for inflation).

spiffy1 said:

I should have tossed a nickel

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see its money wasting like that which causes the problems