Michael Jackson, Ed McMahon, Evander Holyfield and a host of other celebrities are just like the rest of America. They are losing their homes because they can’t afford to pay for them. Foreclosures for the rich. Whoopie.
You know what I say, Good! They deserve it. I hope they all end up living in houses like the rest of us do. Are we really supposed to feel sorry for these folks? They had millions and millions of dollars at one point. And you know what they did, they wasted it.
I’m sick of hearing about them. It’s not even interesting from a pop culture standpoint. Give it a rest.
My biggest complaint is that if somebody gave me 1 million dollars (after taxes) right now, I could probably live the rest of my life comfortably on it with a minor side job here and there. And instead of making sensible choices with their riches, these celebrities just flushed it away.
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Yep 1 million X 3.5% interest = 35000 / year or $2916 per month. Can’t live on that and have no job you have problems. Well then work a few more years and let it grow. Then you will twice as much. I agree there is no reason for these wealthy people to get foreclosed on just sell the dang thing and live on the proceeds.
mark on June 20th, 2008 at 3:23 pm | Link
I think it’s ronic that Ed McMahon was the Publisher’s Clearinghouse announcer, now he’s having to clear his own house! As old as he is he should have 10 houses PAID FOR with all the money he’s made over the years.
Leona Lewis on June 21st, 2008 at 2:28 pm | Link
Maybe Ed McMahon should go to www.pch.com and try is luck in the online publishers Clearinghouse Sweepstakes and maybe he’ll get a visit from the Prize Patrol!
Justin Seine on July 23rd, 2008 at 6:59 pm | Link
Property tax insanity is a big part of the cause. Just look at the esculating valuations by taxing districts; pure insanity along with the tax rates. We need to look at parasites to our way of living and reduce them down as much as possible. Parasites: 1. Local taxes 30-40% of payments. 2. Insurance Companies 10%+. 3. Illegals eating up resources while not contributing (there children consume more than their whole wages in many cases and then do not pay taxes and send what they can back to their homeland). When everyone is suffering our local government just keep raising taxes and raising rates. Insurance companies standing in between the actual services essentially charging a passthrough of 30%. Hospital tax and then pay out of nose when you use them only illegals get away free. School systems another place where illegals get away free.
David Larsen on August 11th, 2008 at 12:09 pm | Link