Forum Post: If a Rich Man goes bankrupt does he automatically become part of the 99%?
Posted 13 years ago on Oct. 14, 2011, 10:21 a.m. EST by SmallBizGuy
(378)
from Savannah, GA
This content is user submitted and not an official statement
Does a rich man go from "Evil" to "Good" automatically upon filing for bankruptcy?
You're missing the issue at hand by concentrating too hard on the rhetoric (which serves the point of being inclusive, not defining).
whether a rich man is evil or good depends on who he is as a person, if he sucks as a person rich he will almost surely suck (and probably suck more) broke.
I wish people could file for emotional bankruptcy, lol.
If a homeless man wins a $200 million lottery does he become one of the 1%? Does he deserve to have 40% of his winnings handed over to the government?
That may be a good start at defining "earned income" and "income". Just a thought.
it would depend on whether he took the cash value or the 20 year payout.
---oh the tax man cometh... always. and death followed him in a white mercedes coupe (or something like that).---