Bonjour, – this is an intermission blog from the Fashion God series ..
I feel its important – at the start of the very difficult blog – to share with you my back ground, because I feel you need to know – working with money is something , I have been doing for many years .
The basic facts; I have a BA in Accounting, and a Master in International Business. I have worked on Wall St., held positions as Investment Banker, Broker & Wealth Management Banker .. you get the idea ..I am Not tooting my horn .. but want you to know, dealing with rich people & their money is something I have done for many years. I was a VERY stupid girl .. I watched the movie called ” Wall Street ” , with Micheal Douglas , and use to go around quoting the famous line ‘Greed is Good ‘ .. I thought I was cool , I was clueless..
I am having a very difficult time – coming to some kind of terms ; or peace treaty with the blatant kind of arrogance behavior that I have been watching unfold for the past years.Maybe the recession has brought the problem to the top, for my view, maybe now, I have become wiser, and see this for what it is .. ” a robbery against the people”;
Since, I am NOT allowed to give any real names or numbers .. I will change this a little – to protect my self from any legal problems, but will keep the numbers VERY close to the real numbers and will just round-up to the next dollar.. This is very important , because at the end – if , I write this blog correctly – you will be upset .. either by me , or by Mr. X .. but I hope to hit some thing inside of you – to stir a response .. so let us begin..
As the world know, everyone must pay taxes ..so Here is Mr. X .. had the luck to pop out of the correct woman – and rolled into money at birth ..this is important – because in America – wealthy families create “Trusts ” , where they park the millions .and like a fat cow .. the children can suckle that cow for all their life , and never have to work . Now, the “Trust ” ..it’s a legal entity – whose main job, is to protect the original money, and create more money. So as a legal entity – the IRS allows tax deductions of lawyers, accountants , and investment commissions .AND the expenses for the child .. so its a way to pay for YALE .. and DEDUCT it at the same time.Can an average person do this ? ..I do not think so ..keep in mind . THIS BYPASSES INHERITANCE TAXES The trust usually, holds the real estate .. like an apt on 5th Ave , in NYC – an easy price of 2,000,000 dollars , so Jr.can relax while staying in the Big Apple.
In France – this ” passing wealth ” , in a Trust , is not allowed .. why? – maybe the french saw this as tax avoidance , which is what it is ..
As for Mr . X – he spends his life , sucking off this fat cow, maybe pulling off the dividends and interest , which gives him an unearned income of 30,000 – 75,000 a year .. I do not know, how he spent his money during his youth .. but it was not helping the poor .. as you will see later (actions speak louder than words ) .. At some point , he comes to France, and works .. pushing around some papers, and with his wealthy connections landed a good job, which gives him a pension .. something is is very rare ..again ..
Now, here we are , and Mr;X is old , aged and looking to retire . He is STILL sucking off the fatted cow, and it has grown in value , big enough for his grandchildren to continue on , as he did ..
The rounded facts . Mr. X has a pension that pays him 75,000 a year PLUS he is collecting 30,000 of Social security payments ! I strongly object to this – and DO NOT GIVE ME THAT OLD DOGMA ” he paid into it .. ” .. he paid into Food Stamps too .. can he collect that ..!! NO !! why , because President Roosevelt created a social net- for those who were unable to provide for them selves .. and its TIME , American starts to see Social Security, as FDR did , a NET – NOT A RIGHT ; Keep in mind – this is only one millionaire that I am making an example of .. but lets grab our calculators .per Wikpedia there are 3.5 million that are in this bracket ( 62% of the ‘s rich live in North America )
so ..3,500,000 Households( cause you know one of them is collecting a check )multiply 30,000 dollars ss cks =
105.000,000,000 dollars ! PER YEAR These people will NOT stave to death if you take away their Social checks – do not to worry there ,, why not give an increase to the Vets – who protected the nation ? They deserve better VA hospitals and retirement checks;
PLUS – he is collecting a retirement benefits from L’Assurance – which is a social retirement system in France – and collecting 30,000 from the French too !! A total rip off , does the Republic know, he has a fat cow called a “Trust” , that is worth over 5,000,000 million dollars?? I do not think so ……
Now – let’s continue one – to increase our frustration.. Mr. X ALSO , has Interest from his parked money outside the Trust that gives him 18,000 per year . This parked money is spread around – so he does not have to pay ” wealth taxes in France ” , which is how he is robbing France. … again , this is wrong .. because he ” retired in France, and is taking advantage of the French socialized medical system .but does not want to pay for it !
Mr. X collected 45,000 of stock dividends , from his personal ( non Trust) investments – that he parked in America , to bypass the French tax system.
Keep in mind – there is a Mrs. X .. who is ALSO collecting on both sides of the ocean .; a Social security check for her, and a French retirement check too.
Now for some ” cherry on the top ” … Mr & Mrs X have an income of 250,000 thousand dollars.. every YEAR , and gave to charity .. 400.00 dollars .. NOT A TYPE O ! Not even 1% of their income to help out a Veteran, Raped woman, abused child or a fur baby in need of a home . This “charity”, was some old clothes that was giving away ..
So, are you angry like I am at the clear abuse that is being done by the rich to the working people ? The Governments are asking people to work longer before you retire, and collect less benefits – while the rich are robbing the people of money that should be retracted back into the budget !! If we are in a Recession , then I say act like it .. and STOP paying for the Rich people. These millionaires will not suffer if you take the checks away from them. They have a lot more money in reserve .. and they spread it around the world , to avoid paying taxes on it ..while they sign up for government benefits.ITS A CRIME AGAINST THE PEOPLE,- taking food out of the working person mouth.
So while the rich sit down to dinner, and eat the good part of the cow – fillet mignon .. I ,a working person , will sit down tonight and have a cheeseburger, and will share with my SPCA dogs the french fries ..
Thank you for reading & please advise me if you have any ideas how I can try to correct this injustice .
Matthew chap.19-ver. 24