Comments on: What It Really Feels Like To Be A Millionaire http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html The offbeat personal finance blog for responsible people. Thu, 16 Feb 2012 20:41:50 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Len Penzo http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-140964 Len Penzo Fri, 09 Dec 2011 16:33:14 +0000 http://lenpenzo.com/blog/?p=566#comment-140964 Wow, Randy. Asinine responses? How are they asinine? I admitted that, technically, I was wrong -- what more do you want from me? I did "learn" from that lesson. That doesn't change my point that the argument is pedantic. I thought I made my case by stating that you also can't have negative income. After all, if Frederick felt the need to call me on one point of minutia, then I'm going to call him on one too. Pedantry is an all or nothing sport; those who insist on playing that game must agree to live and die by the same rules. My main point still stands that as long as folks are properly getting their message across, we're only splitting hairs. Let me give you another example: Your post includes several typos and misspellings including "assinine" and "mathaematically." Pot, meet kettle. By your logic, you too are contributing to the "dumbing down of America" -- even though I still understood your point completely. So, to use the term you so boldly decided to pin on me, does that make you a "moron" because you can't spell a couple words? Of course not! :-) That kind of nonsensical thought-process, ironically, only occurs in the minds of pedants. Sorry. Wow, Randy. Asinine responses? How are they asinine? I admitted that, technically, I was wrong — what more do you want from me? I did “learn” from that lesson. That doesn’t change my point that the argument is pedantic. I thought I made my case by stating that you also can’t have negative income. After all, if Frederick felt the need to call me on one point of minutia, then I’m going to call him on one too. Pedantry is an all or nothing sport; those who insist on playing that game must agree to live and die by the same rules.

My main point still stands that as long as folks are properly getting their message across, we’re only splitting hairs. Let me give you another example:

Your post includes several typos and misspellings including “assinine” and “mathaematically.” Pot, meet kettle. By your logic, you too are contributing to the “dumbing down of America” — even though I still understood your point completely. So, to use the term you so boldly decided to pin on me, does that make you a “moron” because you can’t spell a couple words? Of course not! :-)

That kind of nonsensical thought-process, ironically, only occurs in the minds of pedants. Sorry.

]]> By: Randy C H http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-140962 Randy C H Fri, 09 Dec 2011 16:04:46 +0000 http://lenpenzo.com/blog/?p=566#comment-140962 Len, I just recently found your stuff and have been reading scores of your posts. FYI A giant hospital in Wichita put up a giant billboard that said “300% less radiation…” They got so many emails and even a tv news story that they took it down. Maybe YOU think that the “lexicon” is such, but here in KS we are tired of the “Dumbing down of America” by such morons and, it appears, you fit in that category, sorry. Your assinine responses to Frederick Baguhn were just that and it is too bad you can’t just admit that your statement was in error logically and mathaematically. F B and I just ask that you learn from this. A parkway ia a “roadWAY” that goes by a park (originally they were)and a driveway is a way to drive into your garage: you can park on a parkway (you might get a ticket) and I (EVERY DAY) drive on my driveway. You have my email, kindly reply. Len, I just recently found your stuff and have been reading scores of your posts. FYI A giant hospital in Wichita put up a giant billboard that said “300% less radiation…” They got so many emails and even a tv news story that they took it down. Maybe YOU think that the “lexicon” is such, but here in KS we are tired of the “Dumbing down of America” by such morons and, it appears, you fit in that category, sorry. Your assinine responses to Frederick Baguhn were just that and it is too bad you can’t just admit that your statement was in error logically and mathaematically. F B and I just ask that you learn from this. A parkway ia a “roadWAY” that goes by a park (originally they were)and a driveway is a way to drive into your garage: you can park on a parkway (you might get a ticket) and I (EVERY DAY) drive on my driveway. You have my email, kindly reply.

]]> By: Len Penzo http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-58363 Len Penzo Thu, 26 May 2011 13:53:50 +0000 http://lenpenzo.com/blog/?p=566#comment-58363 Okay, you win. But you're still splitting hairs. Technically, negative income is outgo -- the lowest income possible is zero. In the US the lexicon is such that we also drive on parkways and park on driveways, but everybody understands their meaning even though they are technically incorrect. Likewise for the original argument. And the fact that you clearly understood what I originally meant (as did, I strongly suspect, 99% of the other readers because that is the generally accepted lexicon) really makes these arguments much ado about nothing. Yes? (Oh, don't answer that; I know what you'll say! LOL) :-) Okay, you win. But you’re still splitting hairs. Technically, negative income is outgo — the lowest income possible is zero. In the US the lexicon is such that we also drive on parkways and park on driveways, but everybody understands their meaning even though they are technically incorrect. Likewise for the original argument. And the fact that you clearly understood what I originally meant (as did, I strongly suspect, 99% of the other readers because that is the generally accepted lexicon) really makes these arguments much ado about nothing. Yes? (Oh, don’t answer that; I know what you’ll say! LOL) :-)

]]> By: Frederick Baguhn http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-58361 Frederick Baguhn Thu, 26 May 2011 13:33:09 +0000 http://lenpenzo.com/blog/?p=566#comment-58361 Yes, you can have negative income, Len. That is what happens when the outgo is the larger number. You could have expressed Manny's income as 532 times that of an average wage earner; folks would have seen the relationship and it would have been accurate, as well. (I have the same issue with commercials that advertise using '3 times less detergent'. If we keep spewing misinformation and pretending the words don't matter we shouldn't be surprised when kids end up with a cloudy understanding on financial matters.) Frederick Yes, you can have negative income, Len. That is what happens when the outgo is the larger number.

You could have expressed Manny’s income as 532 times that of an average wage earner; folks would have seen the relationship and it would have been accurate, as well.

(I have the same issue with commercials that advertise using ’3 times less detergent’. If we keep spewing misinformation and pretending the words don’t matter we shouldn’t be surprised when kids end up with a cloudy understanding on financial matters.)
Frederick

]]> By: Len Penzo http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-58308 Len Penzo Wed, 25 May 2011 22:57:23 +0000 http://lenpenzo.com/blog/?p=566#comment-58308 Okay, but I think you're splitting hairs. The trouble is, Frederick, semantics can be a double-edged sword: Your assertion that "532 times less income than $1 is minus $531" is also nonsense. By definition, you can't have negative income. :-) Okay, but I think you’re splitting hairs. The trouble is, Frederick, semantics can be a double-edged sword: Your assertion that “532 times less income than $1 is minus $531″ is also nonsense. By definition, you can’t have negative income. :-)

]]> By: Frederick Baguhn http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-58306 Frederick Baguhn Wed, 25 May 2011 22:23:37 +0000 http://lenpenzo.com/blog/?p=566#comment-58306 "That’s 532 times less than Manny Ramirez" is mathematical nonsence. :-( You might have reasonably said, 1/532 of Manny's income. Example: say the income is $1. One time the income is $1. two times the income is $2. 532 times the income is $532. So, 532 times less income than $1 is minus $531. 532 times less than $25million comes out to minus $13,275,000,000. Even including the apportioned national debt this number is difficult to believe. Thank you for your attention, Frederick “That’s 532 times less than Manny Ramirez” is mathematical nonsence. :-(

You might have reasonably said, 1/532 of Manny’s income.

Example: say the income is $1. One time the income is $1. two times the income is $2. 532 times the income is $532.
So, 532 times less income than $1 is minus $531.

532 times less than $25million comes out to minus $13,275,000,000. Even including the apportioned national debt this number is difficult to believe.

Thank you for your attention,
Frederick

]]> By: BD http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-218 BD Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=566#comment-218 How about the after-tax equivalent? In California, all income over $1M is taxed at 10.3%, and the federal tax rate for a sports star is higher than the average Joe too. I don't think it would make a huge difference, but it might bump those costs up by 25% or so. How about the after-tax equivalent? In California, all income over $1M is taxed at 10.3%, and the federal tax rate for a sports star is higher than the average Joe too. I don’t think it would make a huge difference, but it might bump those costs up by 25% or so.

]]> By: Dodgeblogium » CoTV to (Tea) Party http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-219 Dodgeblogium » CoTV to (Tea) Party Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=566#comment-219 [...] Penzo presents What It Really Feels Like To Be A Millionaire posted at Len Penzo . [...] [...] Penzo presents What It Really Feels Like To Be A Millionaire posted at Len Penzo . [...]

]]> By: Len Penzo http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-220 Len Penzo Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=566#comment-220 @BD: Good points. Although I am too lazy to run the numbers, as you stated the after-tax equivalent wouldn't make a significant difference. I equate the tax impacts on the rich as being similar to a gnat on the behind of an elephant. Maybe it's slightly annoying for the elephant, but in the end no real impact. :-) @BD: Good points. Although I am too lazy to run the numbers, as you stated the after-tax equivalent wouldn’t make a significant difference. I equate the tax impacts on the rich as being similar to a gnat on the behind of an elephant. Maybe it’s slightly annoying for the elephant, but in the end no real impact. :-)

]]> By: Bankruptcy Blog http://lenpenzo.com/blog/id566-what-it-really-feels-like-to-be-a-millionaire.html#comment-221 Bankruptcy Blog Wed, 20 Apr 2011 20:48:56 +0000 http://lenpenzo.com/blog/?p=566#comment-221 This is some good information, I just finished my paper for class and think i may need to bookmark or save this for the second class lol. You may have just made me a regular :) This is some good information, I just finished my paper for class and think i may need to bookmark or save this for the second class lol. You may have just made me a regular :)

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