Friday, 15 Mar 2013 07:50 AM

By Bill Spetrino

The president and his administration seem so surprised that during the term of his presidency, the top 1 percent have gotten disproportionally richer than have those at the bottom.

Of course, he has never had a job in the real world or started a business from scratch like many of those in the 1 percent who he seems to enjoy chastising for not paying their fair share.

President Barack Obama, this “fair share” claim is simply rhetoric. He is aware that almost 50 percent of the people in the United States pay no income tax, while the top 1 percent pay almost 37 percent of all income taxes.

Now, Obama will say that the top 1 percent should indeed pay at least that much, since they make so much of the money.

In fact, the top 1 percent of the earners made 17 percent of the entire adjusted gross income. So in reality, these people paid more than double what they should paid, given their income.

But why let the facts interfere with good political rhetoric?

His administration and many pundits try and explain how the system is rigged for the rich people and that if the system was somehow made fairer, that would change.

The fact is those who workout their bodies regularly and eat right are in better physical shape than those who eat 8,000 calories a day and are couch potatoes.

One is building their physical health better than are those who neglect and abuse their bodies.

Being a self-made multimillionaire, I can assure you that those who save and invest their money become richer because they own profitable businesses that pay them dividends and capital gains.

At age 30, I sold my BMW, put $9,000 in the stock market and drove a $1,200 beater car for five years until it died.

That $9,000 pays me about $12,000 per year in dividends and is now worth in excess of $200,000.

Any person could have done what I did.

But they chose not to.

People who save their money and invest it in the Dividend Machine portfolio my newsletter recommends would be compounding their money at 24.8 percent annually since my portfolio started.

Now maybe going forward I might earn less.

But those who save no money will make zero percent on zero dollars, so how could they get as rich as someone who saves and invests?

Maybe one of those overpaid bureaucrats can explain that.

About the Author: Bill Spetrino
Bill Spetrino is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He is also the editor of the Dividend Machine. Discover more by Clicking Here Now.

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