10 things billionaires won't tell you

While ordinary Americans have seen their net worth fall since the recession, billionaires saw their net worth rise by over 50 percent from $3.5 trillion in 2007.

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1083Comments
Nov 27, 2013 9:57PM
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At least the robber barons of the past built this country up. The new robber barons either dabble in finance or export jobs to Third World slave labor countries.
Nov 28, 2013 12:05AM
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What profits a man to gain a fortune  and lose his soul?

 

He who knows he has enough  is truly rich.

Nov 27, 2013 10:50PM
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They won't tell you how many people they screwed over......... PERIOD.
Nov 28, 2013 1:29AM
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in a former life, I was a teacher.  my students (mostly minorities) all felt that people with money should share it with others.  I waited a day and asked them if I gave them 10000, what would they do with it?they all said they would buy a grill, or an x-box or something.... and throw a party, hire a band, etc.

not a single one of them even thought about giving it to people they never bet, or even their family members.... it is amazing- when the shoe is on the other foot, the perspective changes completely. 


this reinforces the blog I sent just a few minutes ago.


Nov 27, 2013 9:23PM
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These people don't have a clue what the average American households average income is. $12.000 to $20,000 for single adults. $20 to $75 for couples. Mine has been $0 for 2 years without one penny of government assistance. I'm 56 and partially disabled but I am still looking and not mentioning my limitations because I can still work and have a college degree. Just can't get hired. I worked for 11 yrs and the company shutdown.
Nov 27, 2013 10:38PM
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heres what we know.theyre getting richer and richer by paying us less and less. They can get away with that because free trade lets them replace us with cheaper labor. Even the pope knows how destructive globalization is to most of the planet and the suffering it causes.
Nov 28, 2013 1:23AM
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every one of us wants more.... nobody writing comments about this would turn down a raise.

We all would accept a better lifestyle, a little more cash, a winning lotto ticket, a rich uncle dying, etc.

Billionaires just do it at a much grander scale.

So while we decry billionaires for being greedy, we do exactly what they do, only on a smaller scale.

God sees our greed equally.  Bill Gates can be smeared for accruing 100 billion dollars, but he could also be lauded for giving away about 60 billion.... how many of us are willing to give away 60% of our accumulated wealth?

I am not saying these billionaires should be applauded, I am just saying their sin is exactly the same as ours, only on a huge scale.

Nov 27, 2013 8:29PM
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What they won't say is-- when you can steer a nation's government and force it to print the cost of your bribe and give it back to you... you NEVER lose. That said, God has a special place for greedy grubbing billionaires and there are enough barrels with bottoms for those reanimated as slugs.
Nov 27, 2013 8:46PM
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If I could have been that wealthy without hurting anyone along the way, it would have been my priority.  I can't imagine how ruthless one must be to get 'there'.
Nov 27, 2013 11:05PM
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"It is easier for a camel to go thru the eye of a needle than a rich man to get into heaven". I think i will take heaven and let them have their money.
Nov 27, 2013 9:40PM
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I'll tell what the billionaires will tell most of us.....absolutely nothing because we'll never be close enough to one to hear what is said! How you like them apples? 
Nov 29, 2013 11:03AM
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I actually know a billionaire very well.  He's the father of my best friend.

This gentleman is not an old money billionaire or a robber baron--he built a business from the ground up (literally--it was a construction company) and today owns or controls a couple dozen companies through organic growth over four decades.

 

His net worth ticked over the one billion mark in 2012.  That day his son went into his office and said "Well, you're officially a billionaire--now what are  you going to do?"  (his son also works daily in the company)

The gentleman looked up from his spreadsheet, glanced over his reading glasses at my friend and replied, "I'm going to get back to work when we're done with this conversation...".

 

He supports his local community (donating millions of dollars to build a new school, donating land for community parks, donating the time and labor of his construction company to build a local senior center, etc.) 

 

Before you disparage--or simply assume that these admittedly successful people made their fortunes at someone else's expense--remember that generalities and stereotypes don't always fit just because you want them to.

Nov 27, 2013 10:59PM
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With the market up as much as it has been the past year I am surprised that their wealth only grew by 17%.
Nov 28, 2013 11:29AM
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Some get their money from screwing other people, true.  There are quit a few of millionaires and billionaires who are self made.  Many of them took great risks to achieve what they have.  Take me for example.  I work at Costco where my total compensation is well over 100K.  I have a business degree and have thought often about opening my own business.  Why have I not done it?  Risk.

Another example - Think about the last time you went out to an expensive dinner when you could have stayed home and ate spaghetti.  Or bought that case of beer?  It's called opportunity costs.  If you added up all of the money you spent on frivolous items, how much would that be?  A lot of today's millionaires are unassuming because they have lived a minimalist lifestyle to accumulate wealth. 

Let's not forget - The most powerful force on this earth is compound interest.  It takes money to make money.  Have I worn out the puns yet? 

 

Nov 27, 2013 8:33PM
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indeed, and when the stock bubble bursts they lose billions and billions. And so, they have billions of dollars on paper BFD.

 our middle class lives far better than the millionares of the 1970s-80's. We have flat screen TV's, cell phones, and state of the art vehicles. we own so much crap today storage units are the #1 growing industry.

Nov 27, 2013 9:32PM
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Reality check i still here free trade of jobs leaving usa by thousands.Whe sucking sound jobs is gone unemployment wil be zero because wont be any one left lay off .Mean while goverment continues to reward the corperations by buying there imports by trillions costing trillions in unemployment cost lost revenue in taxs an cost of health care .
Nov 28, 2013 1:41AM
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it just amazes me that with all this wealth and riches there are so many living in squalor and abject poverty.  do these people give any to the poor, to build infrastructures, systems to allow better living standards?  or do they think that it is just 'those peoples' fate, that they are lazy and deserve nothing?  I give and I am of the modest of income.  I don't think I could live with myself  if I did not give to those less fortunate or able to do for themselves if I had that kind of wealth and resource.  .   
Nov 28, 2013 3:01AM
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I am not wealthy and never have been. I have recovered what I lost and more. Left it in and it recovered. My sister got scared and took her out. If your house has not recovered. It probably was overvalued then. Know plenty of people who talk about how bad they have it while drinking. Sure the wealthy have advantages Some of these billionaires giving away their money. They invented or had businesses that started in the US. Then they screw their workers and make the product overseas. Even though they make most of the money here..
Nov 27, 2013 10:26PM
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The brain has an itch that can't be scratched. It wants more and more, it can't be satisfied, it wants another billion, more is better, it wants more and more, an other billion please. The brain wants more and more.
Nov 28, 2013 12:36AM
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BULL

"Adjusting for inflation, real net worth per U.S. household hovered at $652,449 "

No way is the average that high....are they only counting white, over 50, homeowners where the house is paid off and including all the billionaires in that figure?   That figure is probably manufactured by the "adjusting for inflation" disclaimer, counting from the 17th century.

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