Secondary Income Quotes

As long as our well-being depends on income, and income, for most depends on work, love will always be secondary...

Epicurus founded a school of philosophy which placed great emphasis on the importance of pleasure. "Pleasure is the beginning and the goal of a happy life," he asserted, confirming what many had long thought, but philosophers had rarely accepted. Vulgar opinion at once imagined that the pleasure Epicurus had in mind involved a lot of money, sex, drink and debauchery (associations that survive in our use of the word 'Epicurean'). But true Epicureanism was more subtle. Epicurus led a very simple life, because after rational analysis, he had come to some striking conclusions about what actually made life pleasurable - and fortunately for those lacking a large income, it seemed that the essential ingredients of pleasure, however elusive, were not very expensive. The first ingredient was friendship. 'Of all the things that wisdom provides to help one live one's entire life in happiness, the greatest by far is the possession of friendship,' he wrote. So he bought a house near Athens where he lived in the company of congenial souls. The desire for riches should perhaps not always be understood as a simple hunger for a luxurious life, a more important motive might be the wish to be appreciated and treated nicely. We may seek a fortune for no greater reason than to secure the respect and attention of people who would otherwise look straight through us. Epicurus, discerning our underlying need, recognised that a handful of true friends could deliver the love and respect that even a fortune may not. Epicurus and his friends located a second secret of happiness: freedom. In order not to have to work for people they didn't like and answer to potentially humiliating whims, they removed themselves from employment in the commercial world of Athens ('We must free ourselves from the prison of everyday affairs and politics'), and began what could best have been described as a commune, accepting a simpler way of life in exchange for independence. They would have less money, but would never again have to follow the commands of odious superiors. The third ingredient of happiness was, in Epicurus's view, to lead an examined life. Epicurus was concerned that he and his friends learn to analyse their anxieties about money, illness, death and the supernatural. There are few better remedies for anxiety than thought. In writing a problem down or airing it in conversation we let its essential aspects emerge. And by knowing its character, we remove, if not the problem itself, then its secondary, aggravating characteristics: confusion, displacement, surprise. Wealth is of course unlikely ever to make anyone miserable. But the crux of Epicurus's argument is that if we have money without friends, freedom and an analysed life, we will never be truly happy. And if we have them, but are missing the fortune, we will never be unhappy.

Let us return for a moment to Lady Lovelace’s objection, which stated that the machine can only do what we tell it to do. One could say that a man can "inject" an idea into the machine, and that it will respond to a certain extent and then drop into quiescence, like a piano string struck by a hammer. Another simile would be an atomic pile of less than critical size: an injected idea is to correspond to a neutron entering the pile from without. Each such neutron will cause a certain disturbance which eventually dies away. If, however, the size of the pile is sufficiently increased, the disturbance caused by such an incoming neutron will very likely go on and on increasing until the whole pile is destroyed. Is there a corresponding phenomenon for minds, and is there one for machines? There does seem to be one for the human mind. The majority of them seem to be "sub critical," i.e. to correspond in this analogy to piles of sub-critical size. An idea presented to such a mind will on average give rise to less than one idea in reply. A smallish proportion are supercritical. An idea presented to such a mind may give rise to a whole "theory" consisting of secondary, tertiary and more remote ideas. Animals’ minds seem to be very definitely sub-critical. Adhering to this analogy we ask, "Can a machine be made to be super-critical?

For a fair proportion of Americans in the bottom 50 percent of the income distribution, these inequalities are of secondary importance for the very simple reason that they were born in a less wealthy country and see themselves as being on an upward trajectory.

In opinion polls, large majorities of Americans (85 percent or more), women and men, agreed that fathers deserved an income that would support their wives and children at home and that the labor of mothers was secondary or supplemental. This was seen as simple justice.17

Let us return for a moment to Lady Lovelace’s objection, which stated that the machine can only do what we tell it to do. One could say that a man can “inject” an idea into the machine, and that it will respond to a certain extent and then drop into quiescence, like a piano string struck by a hammer. Another simile would be an atomic pile of less than critical size: an injected idea is to correspond to a neutron entering the pile from without. Each such neutron will cause a certain disturbance which eventually dies away. If, however, the size of the pile is sufficiently increased, the disturbance caused by such an incoming neutron will very likely go on and on increasing until the whole pile is destroyed. Is there a corresponding phenomenon for minds, and is there one for machines? There does seem to be one for the human mind. The majority of them seem to be “sub-critical,” i.e. to correspond in this analogy to piles of sub-critical size. An idea presented to such a mind will on average give rise to less than one idea in reply. A smallish proportion are supercritical. An idea presented to such a mind may give rise to a whole “theory” consisting of secondary, tertiary and more remote ideas. Animals’ minds seem to be very definitely sub-critical. Adhering to this analogy we ask, “Can a machine be made to be super-critical?

the welfare states of western Europe were not politically divisive. They were socially re-distributive in general intent (some more than others) but not at all revolutionary—they did not ‘soak the rich’. On the contrary: although the greatest immediate advantage was felt by the poor, the real long-term beneficiaries were the professional and commercial middle class. In many cases they had not previously been eligible for work-related health, unemployment or retirement benefits and had been obliged, before the war, to purchase such services and benefits from the private sector. Now they had full access to them, either free or at low cost. Taken with the state provision of free or subsidized secondary and higher education for their children, this left the salaried professional and white-collar classes with both a better quality of life and more disposable income. Far from dividing the social classes against each other, the European welfare state bound them closer together than ever before, with a common interest in its preservation and defense.

Most of the crime-ridden minority neighborhoods in New York City, especially areas like East New York, where many of the characters in Eric Garner’s story grew up, had been artificially created by a series of criminal real estate scams. One of the most infamous had involved a company called the Eastern Service Corporation, which in the sixties ran a huge predatory lending operation all over the city, but particularly in Brooklyn. Scam artists like ESC would first clear white residents out of certain neighborhoods with scare campaigns. They’d slip leaflets through mail slots warning of an incoming black plague, with messages like, “Don’t wait until it’s too late!” Investors would then come in and buy their houses at depressed rates. Once this “blockbusting” technique cleared the properties, a company like ESC would bring in a new set of homeowners, often minorities, and often with bad credit and shaky job profiles. They bribed officials in the FHA to approve mortgages for anyone and everyone. Appraisals would be inflated. Loans would be approved for repairs, but repairs would never be done. The typical target homeowner in the con was a black family moving to New York to escape racism in the South. The family would be shown a house in a place like East New York that in reality was only worth about $15,000. But the appraisal would be faked and a loan would be approved for $17,000. The family would move in and instantly find themselves in a house worth $2,000 less than its purchase price, and maybe with faulty toilets, lighting, heat, and (ironically) broken windows besides. Meanwhile, the government-backed loan created by a lender like Eastern Service by then had been sold off to some sucker on the secondary market: a savings bank, a pension fund, or perhaps to Fannie Mae, the government-sponsored mortgage corporation. Before long, the family would default and be foreclosed upon. Investors would swoop in and buy the property at a distressed price one more time. Next, the one-family home would be converted into a three- or four-family rental property, which would of course quickly fall into even greater disrepair. This process created ghettos almost instantly. Racial blockbusting is how East New York went from 90 percent white in 1960 to 80 percent black and Hispanic in 1966.

The principal reason that districts within states often differ markedly in per-pupil expenditures is that school funding is almost always tied to property taxes, which are in turn a direct function of local wealth. Having school funding depend on local wealth creates a situation in which poor districts must tax themselves far more heavily than wealthy ones, yet still may not be able to generate adequate income. For example, Baltimore City is one of the poorest jurisdictions in Maryland, and the Baltimore City Public Schools have the lowest per-pupil instructional expenses of any of Maryland's 24 districts. Yet Baltimore's property tax rate is twice that of the next highest jurisdiction.(FN2) Before the funding equity decision in New Jersey, the impoverished East Orange district had one of the highest tax rates in the state, but spent only $3,000 per pupil, one of the lowest per-pupil expenditures in the state.(FN3) A similar story could be told in almost any state in the U.S.(FN4) Funding formulas work systematically against children who happen to be located in high-poverty districts, but also reflect idiosyncratic local circumstances. For example, a factory closing can bankrupt a small school district. What sense does it make for children's education to suffer based on local accidents of geography or economics? To my knowledge, the U.S. is the only nation to fund elementary and secondary education based on local wealth. Other developed countries either equalize funding or provide extra funding for individuals or groups felt to need it. In the Netherlands, for example, national funding is provided to all schools based on the number of pupils enrolled, but for every guilder allocated to a middle-class Dutch child, 1.25 guilders are allocated for a lower-class child and 1.9 guilders for a minority child, exactly the opposite of the situation in the U.S. where lower-class and minority children typically receive less than middle-class white children.(FN5) Regional differences in per-pupil costs may exist in other countries, but the situation in which underfunded urban or rural districts exist in close proximity to wealthy suburban districts is probably uniquely American. Of course, even equality in per-pupil costs in no way ensures equality in educational services. Not only do poor districts typically have fewer funds, they also have greater needs.

primary color should take up 60% of the space. For contrast, 30% of the space should be occupied by the secondary color.

ACTION Explore the answers to these questions: What will be your main content channel? What will be your primary and secondary traffic platforms? What methods of building authority and credibility will you use?

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive. At the time, the Federal Housing Administration and Veterans Administration not only refused to insure mortgages for African Americans in designated white neighborhoods like Ladera; they also would not insure mortgages for whites in a neighborhood where African Americans were present. So once East Palo Alto was integrated, whites wanting to move into the area could no longer obtain government-insured mortgages. State-regulated insurance companies, like the Equitable Life Insurance Company and the Prudential Life Insurance Company, also declared that their policy was not to issue mortgages to whites in integrated neighborhoods. State insurance regulators had no objection to this stance. The Bank of America and other leading California banks had similar policies, also with the consent of federal banking regulators. Within six years the population of East Palo Alto was 82 percent black. Conditions deteriorated as African Americans who had been excluded from other neighborhoods doubled up in single-family homes. Their East Palo Alto houses had been priced so much higher than similar properties for whites that the owners had difficulty making payments without additional rental income. Federal and state hosing policy had created a slum in East Palo Alto. With the increased density of the area, the school district could no longer accommodate all Palo Alto students, so in 1958 it proposed to create a second high school to accommodate teh expanding student population. The district decided to construct the new school in the heart of what had become the East Palo Alto ghetto, so black students in Palo Alto's existing integrated building would have to withdraw, creating a segregated African American school in the eastern section and a white one to the west. the board ignored pleas of African American and liberal white activists that it draw an east-west school boundary to establish two integrated secondary schools. In ways like these, federal, state, and local governments purposely created segregation in every metropolitan area of the nation.

In a married couple’s joint tax return, the couple must ‘stack’ their wages. The higher earner (given the gender pay gap this is usually the man) is designated the ‘primary earner’, and their income occupies the lower tax bracket. The lower earner (usually the woman) becomes the ‘secondary earner’, and their income occupies the higher tax bracket. To return to our couple earning $60,000 and $20,000, the person earning $20,000 will be taxed on that income as if it is the final $20,000 of an $80,000 salary, rather than all she earns. That is, she will pay a much higher rate of tax on that income than if she filed independently of her higher-earning husband.

You choose income stocks primarily because you want or need income now. As a secondary point, income stocks have the potential for steady, long-term appreciation.

As schoolchildren learn, the sun washes Earth with every imaginable type of light wave—X-rays, ultraviolet light, visible light, infrared radiation, microwaves, radio waves, you name it. About a third of the total is reflected from clouds. Another sixth is taken in by airborne water vapor. That leaves roughly half of the incoming light—most of which is visible light, as it happens—to pass through the atmosphere. Almost all of that half is absorbed by the land, oceans, and vegetation on the surface. (A little is reflected.) Having taken in all this solar energy, the ground, water, and plants naturally warm up, which makes them emit infrared light, radiating it into the air. Most of this secondary infrared is absorbed by airborne water vapor, heating it up. Usually water vapor comprises between 1 and 4 percent of the atmosphere by weight. (The exact number changes with temperature, wind, and surface conditions.) But this relatively small quantity—1 to 4 percent—packs a big punch.

Over a period of time, I became adept at spotting non-serious buyers, because they all tend to talk and behave in the same manner.  For example, if you ask a non-serious buyer about his guidelines for purchasing properties, he will most likely tell you that he doesn't have any guidelines and that he's "willing to look at anything."  But the fact is that most serious buyers do have definite guidelines, because they know exactly what they're looking for. Another tip-off to a non-serious buyer is that he tends to dwell on questions of secondary importance, such as those pertaining to location, construction, and/or age of the property.  As I previously pointed out, such questions are reasonable, but not until the buyer is first satisfied with the numbers and has decided that he has a definite interest in purchasing the property.  If the numbers don't add up, it doesn't matter where the property is located, how well it's built, or how old it is.  Serious, sophisticated buyers get down to the nuts and bolts of the numbers right away, because they understand the mathematical guidelines for evaluating cash flow—again, the key factor when it comes to evaluating income-producing properties.

The European Union’s relative declines and crises in the early 21st century occurred for the classic reasons Big Cycle declines occurred, which are reflected in the eight measures of power and other indicators described in Chapter 2. These are the same reasons that other empires have experienced crises. More specifically, Europe’s debt is large, its economy is fundamentally weak, its internal conflicts are relatively large, its vitality and level of inventiveness are relatively weak, and its military is not strong. The wealth and income inequalities between and within its member countries have fueled the rise of populists, many of whom oppose the European Union, and who succeeded in causing the UK to leave it. In short, from its position of a leading empire not long ago, Europe as a whole (and the UK with it) has slipped to a position of secondary power.

you are the one for him/her and the price you pick based on the value you are providing will be absolutely secondary to the core benefits you will provide.