Thursday, October 27, 2011

Multimillionaire Moore Denies He's in the Top 1%



Documentary filmmaker and multimillionaire Michael Moore squirms in the interview above as he refuses to admit he's in the top 1% (transcript available here), which seems highly unlikely because it would only take $344,000 of income in 2009 to be in the top 1%, and Moore's net worth is estimated be $50 million.  

Total box office revenues from Moore's movies come to about 1/3 of a billion dollars ($342 million), and "Fahrenheit 911" by itself grossed $222 million on a production budget of only $6 million.  He also repeatedly claims that "capitalism did nothing for me."

18 Comments:

At 10/27/2011 9:37 AM, Blogger PeakTrader said...

Who will pay for the federal government's trillions of dollars of overspending and overregulating?

Anyone who believes it'll be just the rich is in for a rude awakening.

It'll take a decade or two to reverse the damage over the past few years, if we change course.

And then in 2029, the last of the Baby-Boomers (born between 1946-64) will reach 65.

So, it's possible, U.S. living standards may remain below the 2007 peak till about 2050.

 
At 10/27/2011 9:50 AM, Blogger VangelV said...

It'll take a decade or two to reverse the damage over the past few years, if we change course.

Only if the government meddles with the economy. Let the market liquidate malinvestments and the crisis will be over in a year or two.

 
At 10/27/2011 10:17 AM, Blogger Bill said...

Moore is a complete fraud. It is really amazing that anyone pays attention to anything that disgusting character says.

 
At 10/27/2011 10:36 AM, Blogger Paul said...

I imagine he justifies it in his own mind because he's not a filthy money lender. He's just a fat, no-talent liar who markets idiotic movies to morons who lap it up.

 
At 10/27/2011 11:20 AM, Blogger Hydra said...

So he owns a film company that makes him worth millions, but it pays him very little. Not a contradictory situation.

Just like owning a farm - high net worth low income.

 
At 10/27/2011 11:23 AM, Blogger Hydra said...

By malinvestments, you mean payments to lobbyists to buy government intervention.

 
At 10/27/2011 11:33 AM, Blogger Paul said...

Hydra,

Where is your information that Moore is paid "very little?" The top 1% make around $365,000 per yr, according to the IRS. If you go by net wealth, I'm pretty sure he also makes the cut.

Yeah, he's a hypocrite.

 
At 10/27/2011 11:37 AM, Blogger morganovich said...

"Only if the government meddles with the economy. Let the market liquidate malinvestments and the crisis will be over in a year or two."

alas, we are certainly not headed in that direction at the moment.

you see the new student loan rules?

payments capped at 10% of earnings above $10,800 and limited to 20 years.

this is going to lead to massive loan losses and even more tuition inflation as students will stop caring what the costs are.

it's going to be one of the biggest subsidy programs ever and make an even bigger mess of the tuition scale.

it's sub prime all over again.

 
At 10/27/2011 2:43 PM, Blogger Marko said...

Just like the top 1% actually includes people making over 100k a year (in the minds of many), it also excludes people that "really" earned their money like Moore and celebrities like Sean Penn or Baldwin. Also, people that make "useful" things like iPods are exempted. It is only people that leech off the poor that are the real 1%.

Don't try to argue with these nutbags using logic - they will have none of it.

 
At 10/27/2011 4:17 PM, Blogger Orlin said...

Test one, two, three

 
At 10/27/2011 4:39 PM, Blogger VangelV said...

this is going to lead to massive loan losses and even more tuition inflation as students will stop caring what the costs are.

it's going to be one of the biggest subsidy programs ever and make an even bigger mess of the tuition scale.

it's sub prime all over again.


It will not matter. When the currency dies all debts will be wiped clean by hyperinflation. My uncle paid for a floor to be added to his house by using the C$200 that I sent him in 1992. Had he waited two weeks he could have paid C$20.

 
At 10/27/2011 5:55 PM, Blogger OBloodyHell said...

By malinvestments, you mean payments to lobbyists to buy government intervention.

No, it means ANY bad investment. That's what "mal-" means. Duh.

That DOES include the vast array of government-driven boondoggles like Solyndra, wind power, and green jobs in general.

Cut the umbilical cord, if they can't stand up without support, they're a bad investment.

 
At 10/27/2011 6:01 PM, Blogger OBloodyHell said...

>>> So he owns a film company that makes him worth millions, but it pays him very little. Not a contradictory situation.

What he is is a fat rich lying prick.

I recall he recently (last 5y) bought a Park Avenue residence costing more than 5 million dollars.

That strikes me as EXACTLY the kind of person that the OWS protesters are complaining about.

If his income is less than 100k, it's for the same BS reason that Warren Buffet (total assets under his control, over 40 BILLION) claims a taxable salary in the 40 million range. The vast majority of his "income" is from stuff isolated from his "income" by being in a TAX FREE Foundation.

He still controls it, it can still be used to get him things he wants, it still gives him a vast amount of power... but it's not "officially" his. Yeah, right. I want some of that "not income". Just a little of it...

Don't get me wrong, I'm not in favor of stealing it, etc. -- I'm just hilariously amused by the sheer, unmitigated idiocy of people who don't understand ANY of this, because it makes the ultra rich defacto IMMUNE to tax increases.

 
At 10/27/2011 8:58 PM, Blogger The Dude said...

I can't wait for some young guy with a baseball hat and a digital camera to start following Michael around asking, "Are you a one percenter?"

 
At 10/27/2011 9:27 PM, Blogger VangelV said...

What he is is a fat rich lying prick.

True but he did not force anyone to see his movies. All he does is fill a need that people have for the lies that he sells. It is hard for most people to admit that their terrible personal situations are mostly due to their personal shortcomings so they prefer someone to tell them that it isn't their fault. Moore is good at that. His lies are easy to monetize so he is rewarded by the marketplace that he claims to oppose.

 
At 10/27/2011 9:42 PM, Blogger VangelV said...

Larry writes, "....a comparison of neutron monitor measurements, Beryllium 10 and Carbon 14 isotopes (both proxies for cosmic radiation) with global temperatures found that cosmic rays "have been in the opposite direction to that required to explain the observed rise in global mean temperatures" (Lockwood 2007). Regardless of whether cosmic rays help form clouds, the trend in cosmic radiation is opposite to that required to cause warming."

Your ignorance is actually showing again. Lockwood and Fro╠łhlich made a number of errors. You can find a response to their claims here.

 
At 10/28/2011 11:44 PM, Blogger Don Culo said...

Mr. Moore is working the free market system like a sly fox.

He did not have to steal the investment money of others. People paid for entertainment and he provided the goods.

The free market system is working, I sense a bunch of jealous, lazy people, who don't work as hard and smart as Mr. Moore.

 
At 10/31/2011 6:51 PM, Blogger misterjosh said...

Dude, it's been done.
http://www.imdb.com/title/tt0961117/

 

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