In response to:

Dave Says Don't Fake Being Poor

Merrie Wrote: Feb 20, 2013 11:07 AM
Actually, rich people do this all the time. But you have to put the assets in the grandparents' name. Unless they've changed it from my day, financial need is calculated by the parents' tax return - if they claim the student as a dependent.
MrTufts Wrote: Apr 11, 2013 12:45 PM
Today, it is calculated on the parents' tax return regardless of whether or notthey claimed the student as a dependent - all the way up to age 26!
Magna Wrote: Feb 20, 2013 2:57 PM
You are so correct Merrie-Like the Kennedy's -as they are the poster children of generational wealth as many of the Northeastern folks are -Obama's term for people-and they so dearly wish to cling to that power and wealth -at all costs -hard to believe that JFK came from that Klan -
Buffet is the biggest manipulator of all things -with all of this talk about the "Buffet Rule" from Obama you just knew it had to have some catch or flaw in it -and of course it did -he was setting up his money in long term financial accounts for his children and grandchildren -trusts and annuities -to lower his tax rates -so that guy was never genuine and Obama knew this of course.

Dear Dave,

What do you think about the practice of credit card churning?

Ethan

Dear Ethan,

I think it’s a pretty dumb idea. The concept is to run up the balance on one card as high as you can, then flip the balance from card to card in order to get perks like airline miles. But if you want to go through all the trouble and hassle over such a small amount of money, be my guest.

I’ve met thousands of millionaires, and none of them have ever credited their success to credit card churning....