Mathbud1
VIP Member
- Jan 2, 2014
- 784
- 74
Do you really not see the difference between an income of 125,000 dollars a year and 15 million dollars a year?
Just because BOTH numbers fall in the top 10%, there is a HUGE disparity in the amounts. No one has an issue with the professional who provides a needed service or product who make a couple hundred thousand dollars a year. They earn it far as I am concerned.
But lets talk about a hedge fund manage (John Paulson) who made 5 billion dollars last year. There is no fucking way that this person provided societal value to justify making 5 billion dollars. And his tax rate was a whopping 15%.
But I am sure you don't see the difference. Or even see this as a problem. To you the problem seems to be if anyone complains that this is not a good thing for America.
"societal value"?
What job does provide societal value in your opinion?
How would you like to see societal value determining pay?
Salaries for most jobs (including both the "professional who provides a needed service or product" and the hedge fund manager) are paid by companies. The company pays the salary based on the value they place on the work of the person receiving it. Are you saying that the salary should not be determined by the company, but rather by the government? That seems to be the only way to pay based on the "societal value" of a job. How many people are going to become CEO's if that suddenly becomes one of the lowest paying jobs out there? How well is any company going to do without clear direction and leadership? If the companies that provide all our jobs fall apart, what happens to the "professional who provides a needed service or product?" I'm guessing he doesn't keep providing that needed service or product.
Yes, it makes me jealous that someone out there is making 100 times as much as me for doing what seems like nothing to me. Does that mean that he is a thief, or that I am entitled to a portion of that money because I feel like my job provides more "societal value" than his?
No. Plain and simple.
Really? You had to ask that question.
How about doctors, engineers, architects, maybe a lawyer, a teacher etc. They all can make a pretty good amount of money. And they all provide a value to our society.
Your turn. What "value" did the hedge fund manager making 5 billion dollars, what value did he impart to society? You know, people like you and me.
Not to his partners or his ultra rich investors. Or even his rich rich investors. He used QE money and the casino of the past year on Wall street and guessed right and made 5 billion dollars.
And didn't provide one bit of value to the overall society.
I don't care he made a killing. But 5 billion. At 15% tax rate. Using government provided funds. (you do know the Federal Reserve was the source of the QE money? Right?)
Fuck that.
I asked the question because you implied that societal value should somehow determine what we are paid.
And I ask again, how do you envision societal value determining wages?