[disneysteve]

I agree with Elgin. He makes some good points about living within your means, but really goes off the deep end with statements like "Interest is legal theft." No it isn't. Interest is a service fee you pay in order to borrow money. Banks don't lend money for free anymore than grocery stores give away free food. Banks are businesses and you are paying them for the service they provide you by lending you money.

I don't know where he lives that someone grossing $2500/month is paying $1200/month in taxes. That certainly isn't the US tax rate.

He has a very warped description of how the stock market works. I won't even begin to explain how far from reality he is there.

There are so many errors in his information. Anyone who isn't educated about the world of finance would get a very twisted view of the way things work by reading this essay.