Will our economy improve? I believe it will; it has been improving for about the last two years. I know this because I have a special crystal ball that reveals the future! Actually, part of the crystal ball is in print form: the weekly editions of Automotive News. I am particularly interested in the production and sales […]
Our Economic Future on Wheels Read More »
Proposals for a tax on wealth frighten me. Take for example a recent editorial “The Conservative Case for a Wealth Tax” by Ronald McKinnon in The Wall Street Journal. Mr. McKinnon first argues that increasing the income tax rate of high earners would be for various reasons ineffective in raising federal revenue. He claims that “income inequality . .
Wealth Tax Today, Confiscation Tomorrow? Read More »
You are contemplating pursuing a graduate degree. Several weeks after you take the Graduate Record Exam (GRE), your scores arrive in the mail. How do you rank? You discover that your verbal aptitude score is in the third quarter, or below average range. Naturally you are disappointed. If this was your score, would you still
Dr. King: A Leader of Leaders Revisited Read More »
Today far too many college graduates are unable to find job. To make matters worse, some of these same people borrowed heavily to fund their college educations. Some have over $100,000 in outstanding student loans. It is easy to blame the American economy for these ills, but it is the individual who possibly selected a pricey university and a college
Engineering Economic Productivity Read More »
Senator Harry Reid of Nevada recently stated: Only a tiny fraction of people making more than a million dollars [a year], probably less than 1 percent, are small business owners. And only a tiny fraction of that tiny fraction are traditional job creators. Most of these businesses are hedge fund managers or wealthy lawyers. They
High Income Super Bowl: Business Owners, 63; Hedge Fund Mgrs & Lawyers, 9 Read More »
A neighbor recently sought my advice about selecting a college for his daughter. His evoked set of colleges started with Georgetown and moved northeast to Bowdain and Bates in Maine. But not all great colleges are in the Northeast corridor. During the conversation I mentioned that this year’s Nobel prize for Chemistry was won by a
Gold in Colleges and Neighborhoods Read More »
A woman wrote to me recently asking for advice on choosing a profitable career: I am 50. I would like to . . . find a business that I can develop for the next fifteen years and retire as a millionaire. Could that be possible? There is no certainty in accumulating wealth. And just because some types
Changes I would Make in my Life Read More »
The following question was asked in The Millionaire Next Door: What makes of cars are most popular with millionaires? Number one in market share (9.4%) was Ford. . . the most popular models include the F-150 pickup. . . about three in ten millionaire Ford drivers own F-150 pickups. More recently, in Stop Acting Rich,
Ford Pickup: #1 Vehicle in Sales & Profits Read More »
Why do I profile auctioneers? It began almost by accident. Pouring over the Census data during several preceding economic downturns, I noticed that there was a large concentration of high income producers among full time, professional auctioneers. Historically, their income seems to vary in the opposite direction of the American economy in general. What I have found is that because
Millionaires 10 X the Norm? Auctioneers Read More »
One has to be amazed at the distorted views presented in the media and in the political arena regarding “the rich.” But Alan J. Reynolds does provide some objective reality in his editorial, “Tax rates, inequality and the 1%.” He first cites a statement from the Congressional Budget Office: The share of income received by the top 1%
1% versus 99%: Widening Income Gap? Not! Read More »