The Whining of The Super Rich At The Romney Fund Raiser In The Hamptons

Some people at the fundraiser tweeted comments that were overheard at the fundraiser.  The super rich were very upset that our president decided to say bad things about their unwillingness to pay taxes. Apparently, the president does not appreciate that they are the engines of growth that provide jobs for the losers.  This article pokes fun at some of the comments that were tweeted.  Many of these engines of growth became very rich by taking advantage of the losers.  Investors are often among the losers.  Many of them are willing to pay excessive fees to money managers.   The high fees generally reduce their yields below what they would have earned by investing in a low cost index. Only 20% of actively managed funds generate a higher return than index funds and they do not consistently beat the indexes. This is only one of the ways that many get rich by taking advantage of suckers.