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Re:The 1% hide their money offshore, then use it to corrupt ... by turnip1979 on Monday April 11, 2016 @11:30AM (#11472157)
No. I am sick of politicians vilyfing the 1% ... in Canada, that means a family income of around 180K. Taxes get raised, benefits get cut etc. on people who have to pay 8-12 times their income to afford houses in major cities and have massive student loan debts to service (where professional jobs are anyways). Having a tax system that is blind to local income/cost of living differences is stupid. The 1% rhetoric really needs to end. I am in the 1% and I am fucked. I'm in my late 30s .. I have no house and can barely afford one. Sorry if this sounds like whining but this system of screwing people who actually do work and generate income needs to end. Here's an idea ... lets stop taxing income and start taxing assets.
Re:The 1% hide their money offshore, then use it to corrupt ... by wavefunction on Monday April 11, 2016 @11:53AM (#11472360)
You're not in the 1% as it is popularly used. 1% applies to wealth, not income. I hear you on the difficulty of receiving a high wage yet finding it difficult to get a foothold established.

In my city's case, there are extreme amounts of outside capital flowing into Austin to try to take advantage of the hype pumped out by all the various vacuous media channels in this country.

All that wealth sitting out there, being used to drive up property prices so that average working folks can't afford to live in the city they supposedly live in.

Re:The 1% hide their money offshore, then use it to corrupt ... by twoodfin on Monday April 11, 2016 @03:02PM (#11474223)
You're not in the 1% as it is popularly used. 1% applies to wealth, not income.

This is historically inaccurate, at least for American politics. There, the use of the phrase "top 1%" goes back at least as far as debates over then-Governor George W. Bush's income tax plan in the 2000 election[1]. Gore frequently used it as 'wealthiest 1%', but he was clearly citing studies based on the income breakdown[2].

If you want somebody who will fight for you and who will fight to have middle-class tax cuts, then I am your man. I want to be. Now, I doubt anybody here makes more than $330,000 a year. I won't ask you, but if you do, you're in the top 1%.

[1] http://debates.org/index.php?page=october-17-2000-debate-tra...

[2] http://www.ctj.org/html/bush0800.htm

Re:The 1% hide their money offshore, then use it to corrupt ... by eterm on Monday April 11, 2016 @12:14PM (#11472582)
You earn more than 99% of people and you think you're fucked?
Re:The 1% hide their money offshore, then use it to corrupt ... by MawNicker on Monday April 11, 2016 @12:38PM (#11472853)
Yeah... And he explained. Also with student debt it actually makes a lot of sense. Many doctors have hundreds of thousands in debt. Some people need their high salaries.
Re:The 1% hide their money offshore, then use it to corrupt ... by turnip1979 on Monday April 11, 2016 @12:54PM (#11473015)
People who are over 45 own most of the houses. Bought years ago for a fraction of the current price.
Re:The 1% hide their money offshore, then use it to corrupt ... by base698 on Monday April 11, 2016 @01:12PM (#11473213)
Finance needs it's cut of everything.
Re:The 1% hide their money offshore, then use it to corrupt ... by pc86 on Monday April 11, 2016 @03:23PM (#11474387)
What does finance have to do with everything? Or are you complaining about the fact that interest rates exist?
Re:The 1% hide their money offshore, then use it to corrupt ... by ArkyBeagle on Monday April 11, 2016 @12:56PM (#11473039)
The 1% are proportionally more represented in bankruptcy court than the 10%.
Re:The 1% hide their money offshore, then use it to corrupt ... by mcv on Tuesday April 12, 2016 @03:23PM (#11482728)
If being in the top 1% is so hard, why not share a bit more of that wealth?
Re:The 1% hide their money offshore, then use it to corrupt ... by ArkyBeagle on Tuesday April 12, 2016 @07:23PM (#11484475)
It's not "hard", it's just more complicated. And sharing the wealth is harder still. I say that based on observation; I doubt I'll ever be a 1%-er. Maybe a 10%-er, but probably not.
Re:The 1% hide their money offshore, then use it to corrupt ... by sievebrain on Monday April 11, 2016 @01:20PM (#11473298)
Earn more pre-tax
Re:The 1% hide their money offshore, then use it to corrupt ... by epicureanideal on Monday April 11, 2016 @12:19PM (#11472639)
Letting this misconception continue is also potentially (although unlikely) dangerous to all of us who worked our way into the 1%. If there ever is any large scale social movement "against the 1%" the population involved in that movement is apparently not going to distinguish between us and the billionaires with inherited wealth.
Re:The 1% hide their money offshore, then use it to corrupt ... by pc86 on Monday April 11, 2016 @03:20PM (#11474356)
Are you suggesting it's okay to tax their wealth but not yours?
Re:The 1% hide their money offshore, then use it to corrupt ... by lerpa on Monday April 11, 2016 @11:28PM (#11477036)
Obviously, it's always ok to vilify others
Re:The 1% hide their money offshore, then use it to corrupt ... by pjc50 on Monday April 11, 2016 @12:12PM (#11472566)
Yes .. but, by definition, 99% of people are worse off than you. They can't afford a house either.
Re:The 1% hide their money offshore, then use it to corrupt ... by superuser2 on Monday April 11, 2016 @01:15PM (#11473254)
For someone making $90k in San Francisco, a 1-bedroom apartment with a parking space is categorically off the table.

For someone making $45k in the Midwest, a 3-bedroom house with a 2-car garage in an excellent school district is expected.

If the 1%er moves to a lower cost of living area, he will not be a 1%er anymore.

Re:The 1% hide their money offshore, then use it to corrupt ... by quadrangle on Monday April 11, 2016 @05:46PM (#11475397)
But SF is an outlier for cost of living. And anyone in the U.S. can still buy a toaster for $25 no matter where you live etc.
Re:The 1% hide their money offshore, then use it to corrupt ... by WalterBright on Monday April 11, 2016 @03:38PM (#11474493)
Look at all the houses in the US. They can't all be owned by only 1% of the population.
Re:The 1% hide their money offshore, then use it to corrupt ... by turnip1979 on Monday April 11, 2016 @12:58PM (#11473060)
Not true. Think about it.
Re:The 1% hide their money offshore, then use it to corrupt ... by mahyarm on Monday April 11, 2016 @04:51PM (#11474981)
Where in canada do you live? Is there anything specific location wise that keeps you to a certain location? You probably could afford a house in alberta or quebec for example. But toronto and especially vancouver are economic bad ideas. Could you get a job in the USA too? The price/income ratios there tend to be much better.
Re:The 1% hide their money offshore, then use it to corrupt ... by dmoy on Monday April 11, 2016 @11:55AM (#11472379)
Hang on isn't Canada's homeownership rate like >>50%? How is it that you can't afford a house if you're in the 1%?
Re:The 1% hide their money offshore, then use it to corrupt ... by darryl42 on Monday April 11, 2016 @01:35PM (#11473491)
When houses start at over 1 million even the bottom of the 1% can have trouble buying. Houses are going up 24% year over year which is much higher then you can save money. Condo prices prices are not going up as quickly so they don't work as a good stepping stone. Out in the burbs if you want to be near transit will still be 600-800 for something livable, actually there doesn't seem to be a difference in price between a tear down and something you could live in. Might be a bit bias as I was out looking at houses on the weekend.
Re:The 1% hide their money offshore, then use it to corrupt ... by gnaritas on Monday April 11, 2016 @03:07PM (#11474265)
Move away from all the rich people.

> Houses are going up 24% year over year

That's called a bubble, such a rise is not sustainable.

Look, you're living in a place full of rich people, so you feel poor by comparison, that's expected, so deal with it or move.

Re:The 1% hide their money offshore, then use it to corrupt ... by mahyarm on Monday April 11, 2016 @04:54PM (#11475012)
If rents are disconnected from housing prices, you're in a housing bubble. I think you're in vancouver too, so move away!
Re:The 1% hide their money offshore, then use it to corrupt ... by gnuthulhu on Monday April 11, 2016 @01:28PM (#11473404)
When I bought my house in Toronto 20 years ago it was 3.5 times my annual salary. Now it is valued at more than 7 times my current salary (doing the same type of work).
Re:The 1% hide their money offshore, then use it to corrupt ... by manarth on Monday April 11, 2016 @03:18PM (#11474344)
This is surprisingly difficult: http://www.crackshackormansion.com/
Re:The 1% hide their money offshore, then use it to corrupt ... by turnip1979 on Monday April 11, 2016 @12:59PM (#11473080)
Prices increased around 50-100% since 2008. In 2008, the market was considered by many to be overvalued.
Re:The 1% hide their money offshore, then use it to corrupt ... by ArkyBeagle on Monday April 11, 2016 @12:59PM (#11473073)
Housing in Canada never stopped going up in price.
Re:The 1% hide their money offshore, then use it to corrupt ... by branchless on Monday April 11, 2016 @11:37AM (#11472227)
You need to think about how to stop the banks creating more credit. That is absorbing all productivity gains. Forget semantics about 1% or 0.1%.