The 9 Results - wealthy being plundered

[Whereisup]

When the social fabric is weak, scam artists, police, military, dictators, monarchs, and others turn their attentions to plundering the wealthy. Throughout history, a very large number of wealthy families have been destroyed in that way.

If the top executives and major shareholders of corporations succeed in getting legislation passed via lobbying and legal bribes, such as campaign contributions and highly paid jobs after leaving office, their wish list is to push wages of a majority of Americans to a third world level with no benefits, no social programs to serve as a safety net. and no practical situation in which people can start small businesses to support themselves.

Corporations have been driving small businesses out of business and taking their customers for themselves, for a long time. Many people seem to think that corporations are like warm fuzzy uncles who help small businesses whenever possible. However, corporations are not trying to help for businesses. For example, corporations from time to time lobby for small print additions to new laws, which put small businesses at more of a disadvantage than before.

If those executives and shareholders get their way, a majority of the population will be permanently on the edge of starvation, without any social programs to help. That will create a lot of fear and anger, which will weaken the fabric of society.

Of course, the wealthy will hire more guards to protect them from this population,, and get more out of the police and military. But after awhile, some of the guards, some of the police, some of the military, will begin working at ways to get more out of the wealthy they are protecting.

Jim

 

[depotoo]

When the social fabric is weak, scam artists, police, military, dictators, monarchs, and others turn their attentions to plundering the wealthy. Throughout history, a very large number of wealthy families have been destroyed in that way.

If the top executives and major shareholders of corporations succeed in getting legislation passed via lobbying and legal bribes, such as campaign contributions and highly paid jobs after leaving office, their wish list is to push wages of a majority of Americans to a third world level with no benefits, no social programs to serve as a safety net. and no practical situation in which people can start small businesses to support themselves.

Corporations have been driving small businesses out of business and taking their customers for themselves, for a long time. Many people seem to think that corporations are like warm fuzzy uncles who help small businesses whenever possible. However, corporations are not trying to help for businesses. For example, corporations from time to time lobby for small print additions to new laws, which put small businesses at more of a disadvantage than before.

If those executives and shareholders get their way, a majority of the population will be permanently on the edge of starvation, without any social programs to help. That will create a lot of fear and anger, which will weaken the fabric of society.

Of course, the wealthy will hire more guards to protect them from this population,, and get more out of the police and military. But after awhile, some of the guards, some of the police, some of the military, will begin working at ways to get more out of the wealthy they are protecting.

Jim

Hey Jim, what about unions?

Sector Totals, 2011-2012
Rank Sector Amount Dems Repubs
Labor $141,454,855 43.1% 4.3%

 

[Warrior102]

When the social fabric is weak, scam artists, police, military, dictators, monarchs, and others turn their attentions to plundering the wealthy. Throughout history, a very large number of wealthy families have been destroyed in that way.

If the top executives and major shareholders of corporations succeed in getting legislation passed via lobbying and legal bribes, such as campaign contributions and highly paid jobs after leaving office, their wish list is to push wages of a majority of Americans to a third world level with no benefits, no social programs to serve as a safety net. and no practical situation in which people can start small businesses to support themselves.

Corporations have been driving small businesses out of business and taking their customers for themselves, for a long time. Many people seem to think that corporations are like warm fuzzy uncles who help small businesses whenever possible. However, corporations are not trying to help for businesses. For example, corporations from time to time lobby for small print additions to new laws, which put small businesses at more of a disadvantage than before.

If those executives and shareholders get their way, a majority of the population will be permanently on the edge of starvation, without any social programs to help. That will create a lot of fear and anger, which will weaken the fabric of society.

Of course, the wealthy will hire more guards to protect them from this population,, and get more out of the police and military. But after awhile, some of the guards, some of the police, some of the military, will begin working at ways to get more out of the wealthy they are protecting.

Jim

Who are the "wealthy?"
What does one's net worth need to be to be consideres "wealthy" in your mind.

 

[depotoo]

When the social fabric is weak, scam artists, police, military, dictators, monarchs, and others turn their attentions to plundering the wealthy. Throughout history, a very large number of wealthy families have been destroyed in that way.

If the top executives and major shareholders of corporations succeed in getting legislation passed via lobbying and legal bribes, such as campaign contributions and highly paid jobs after leaving office, their wish list is to push wages of a majority of Americans to a third world level with no benefits, no social programs to serve as a safety net. and no practical situation in which people can start small businesses to support themselves.

Corporations have been driving small businesses out of business and taking their customers for themselves, for a long time. Many people seem to think that corporations are like warm fuzzy uncles who help small businesses whenever possible. However, corporations are not trying to help for businesses. For example, corporations from time to time lobby for small print additions to new laws, which put small businesses at more of a disadvantage than before.

If those executives and shareholders get their way, a majority of the population will be permanently on the edge of starvation, without any social programs to help. That will create a lot of fear and anger, which will weaken the fabric of society.

Of course, the wealthy will hire more guards to protect them from this population,, and get more out of the police and military. But after awhile, some of the guards, some of the police, some of the military, will begin working at ways to get more out of the wealthy they are protecting.

Jim

Who are the "wealthy?"
What does one's net worth need to be to be consideres "wealthy" in your mind.

This should be good but I suspect he is a one hit wonder - hits the boards and runs.

 

[Whereisup]

It has been part of the wish list of the conservative part of the wealthy to destroy unions, ever since Reagan busted the Air Traffic Controllers Union. In article after article, we can watch the unions slowly growing weaker and weaker.

The definition of the upper class seems to need shifting with so many new billionaires; there are now over 500 of them.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

Most of the new billionaires would be middle upper class, and I think middle upper class would probably extend down to a few hundred million dollars.

The lower upper class probably now begins at about 10 million dollars and goes up to the dividing point with the middle upper class.

As I'm using this series, however, I am preparing arguments to use with the members of the upper class who actually have power. That, I think would be mainly the middle upper class, and more towards the top of the middle upper class than towards the bottom.

People in the lower upper class don't have any pewer to speak of at all, unless they run for office and get elected.

I am not opposed to having an upper class. In my view, people should do what they want and have what they want as much as possible. So I don't oppose the upper class, but I want the standard of living of the middle class and lower class raised to a comfortable and secure level.

Neither political party has a clear plan to do that. Instead, politicians essentially say, often fairly subtly, "Trust me. Give me power and I will solve all your problems."

Jim

Jim

 

[depotoo]

It has been part of the wish list of the conservative part of the wealthy to destroy unions, ever since Reagan busted the Air Traffic Controllers Union. In article after article, we can watch the unions slowly growing weaker and weaker.

The definition of the upper class seems to need shifting with so many new billionaires; there are now over 500 of them.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

Most of the new billionaires would be middle upper class, and I think middle upper class would probably extend down to a few hundred million dollars.

The lower upper class probably now begins at about 10 million dollars and goes up to the dividing point with the middle upper class.

As I'm using this series, however, I am preparing arguments to use with the members of the upper class who actually have power. That, I think would be mainly the middle upper class, and more towards the top of the middle upper class than towards the bottom.

People in the lower upper class don't have any pewer to speak of at all, unless they run for office and get elected.

I am not opposed to having an upper class. In my view, people should do what they want and have what they want as much as possible. So I don't oppose the upper class, but I want the standard of living of the middle class and lower class raised to a comfortable and secure level.

Neither political party has a clear plan to do that. Instead, politicians essentially say, often fairly subtly, "Trust me. Give me power and I will solve all your problems."

Jim

Jim

Actually it has been part of the wish list of Republicans for those that work to actually work for the pay they deserve, rather than what others that haven't even worked with them thaink they deserve. Personally? Myself and my hubby always found we could negotiate what we were worth with our employers as well as when we had our own business gave the employees that worked for us they fair due. You work hard, show initiative then you will be rewarded. And I don't mean simply showing up to do a job by clocking in and out on time.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

I didn't realize that Queen Elizabeth was American and the Astor's (note proper spelling) are no longer an American icon as they are pretty much broke, from what I hear.

Look at Bill Gates #1, Warren Buffett #2, pretty much self made. Buffett as a child went door to door selling chewing gum and coca cola! He also worked in his grandfather's grocery store, for goodness sakes! Next #3 Larry Ellison was born to an unwed mother and an airforce pilot! #4 Charles Koch took his dad's small petroleum products businesss and transformed it into 2600 times the size it was when he became CEO. When young his father made them pick dandelions while friends played, and when older they had to shovel manure at nearby ranches. They also had an hour a week in which their father preached economics to he and his siblings. #5 David Koch, Charles brother, whom endured the above as well. Each one worked hard and got several degrees within their field of interests to better themselves.


I could go on but hopefully you get the picture. The richest in the US certainly did not get the wealth handed to them on a silver platter.

 

[depotoo]

My Krugman post brought a lot of emails asking about my assertion that “the vast majority of today’s rich didn’t inherit their money, but made it themselves.”

For the sake of brevity, I didn’t cite the research behind the statement. But since many of you have asked, and we aim to please here at the Wealth Report, here are my three main data points:

1. According to a study of Federal Reserve data conducted by NYU professor Edward Wolff, for the nation’s richest 1%, inherited wealth accounted for only 9% of their net worth in 2001, down from 23% in 1989. (The 2001 number was the latest available.)

2. According to a study by Prince & Associates, less than 10% of today’s multi-millionaires cited “inheritance” as their source of wealth.

3. A study by Spectrem Group found that among today’s millionaires, inherited wealth accounted for just 2% of their total sources of wealth.

Each of these stats measures slightly different things, yet they all come to the same basic conclusion: Inheritance is not the main driver of today’s wealth. The reason we’ve had a doubling in the number of millionaires and billionaires over the past decade (even adjusted for inflation) is that more of the non-wealthy have become wealthy.

So it’s not just that the same old rich folks are getting richer. The more-important shift is that the rich are getting more numerous.

The Decline of Inherited Money - The Wealth Report - WSJ

 

[Old Rocks]

When the social fabric is weak, scam artists, police, military, dictators, monarchs, and others turn their attentions to plundering the wealthy. Throughout history, a very large number of wealthy families have been destroyed in that way.

If the top executives and major shareholders of corporations succeed in getting legislation passed via lobbying and legal bribes, such as campaign contributions and highly paid jobs after leaving office, their wish list is to push wages of a majority of Americans to a third world level with no benefits, no social programs to serve as a safety net. and no practical situation in which people can start small businesses to support themselves.

Corporations have been driving small businesses out of business and taking their customers for themselves, for a long time. Many people seem to think that corporations are like warm fuzzy uncles who help small businesses whenever possible. However, corporations are not trying to help for businesses. For example, corporations from time to time lobby for small print additions to new laws, which put small businesses at more of a disadvantage than before.

If those executives and shareholders get their way, a majority of the population will be permanently on the edge of starvation, without any social programs to help. That will create a lot of fear and anger, which will weaken the fabric of society.

Of course, the wealthy will hire more guards to protect them from this population,, and get more out of the police and military. But after awhile, some of the guards, some of the police, some of the military, will begin working at ways to get more out of the wealthy they are protecting.

Jim

Who are the "wealthy?"
What does one's net worth need to be to be consideres "wealthy" in your mind.

[ame=http://www.youtube.com/watch?v=QPKKQnijnsM]Wealth Inequality in America - YouTube[/ame]

 

[Old Rocks]

It has been part of the wish list of the conservative part of the wealthy to destroy unions, ever since Reagan busted the Air Traffic Controllers Union. In article after article, we can watch the unions slowly growing weaker and weaker.

The definition of the upper class seems to need shifting with so many new billionaires; there are now over 500 of them.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

Most of the new billionaires would be middle upper class, and I think middle upper class would probably extend down to a few hundred million dollars.

The lower upper class probably now begins at about 10 million dollars and goes up to the dividing point with the middle upper class.

As I'm using this series, however, I am preparing arguments to use with the members of the upper class who actually have power. That, I think would be mainly the middle upper class, and more towards the top of the middle upper class than towards the bottom.

People in the lower upper class don't have any pewer to speak of at all, unless they run for office and get elected.

I am not opposed to having an upper class. In my view, people should do what they want and have what they want as much as possible. So I don't oppose the upper class, but I want the standard of living of the middle class and lower class raised to a comfortable and secure level.

Neither political party has a clear plan to do that. Instead, politicians essentially say, often fairly subtly, "Trust me. Give me power and I will solve all your problems."

Jim

Jim

Actually it has been part of the wish list of Republicans for those that work to actually work for the pay they deserve, rather than what others that haven't even worked with them thaink they deserve. Personally? Myself and my hubby always found we could negotiate what we were worth with our employers as well as when we had our own business gave the employees that worked for us they fair due. You work hard, show initiative then you will be rewarded. And I don't mean simply showing up to do a job by clocking in and out on time.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

I didn't realize that Queen Elizabeth was American and the Astor's (note proper spelling) are no longer an American icon as they are pretty much broke, from what I hear.

Look at Bill Gates #1, Warren Buffett #2, pretty much self made. Buffett as a child went door to door selling chewing gum and coca cola! He also worked in his grandfather's grocery store, for goodness sakes! Next #3 Larry Ellison was born to an unwed mother and an airforce pilot! #4 Charles Koch took his dad's small petroleum products businesss and transformed it into 2600 times the size it was when he became CEO. When young his father made them pick dandelions while friends played, and when older they had to shovel manure at nearby ranches. They also had an hour a week in which their father preached economics to he and his siblings. #5 David Koch, Charles brother, whom endured the above as well. Each one worked hard and got several degrees within their field of interests to better themselves.


I could go on but hopefully you get the picture. The richest in the US certainly did not get the wealth handed to them on a silver platter.

And Buffet and Gates support increased taxes on the very wealthy.

 

[depotoo]

It has been part of the wish list of the conservative part of the wealthy to destroy unions, ever since Reagan busted the Air Traffic Controllers Union. In article after article, we can watch the unions slowly growing weaker and weaker.

The definition of the upper class seems to need shifting with so many new billionaires; there are now over 500 of them.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

Most of the new billionaires would be middle upper class, and I think middle upper class would probably extend down to a few hundred million dollars.

The lower upper class probably now begins at about 10 million dollars and goes up to the dividing point with the middle upper class.

As I'm using this series, however, I am preparing arguments to use with the members of the upper class who actually have power. That, I think would be mainly the middle upper class, and more towards the top of the middle upper class than towards the bottom.

People in the lower upper class don't have any pewer to speak of at all, unless they run for office and get elected.

I am not opposed to having an upper class. In my view, people should do what they want and have what they want as much as possible. So I don't oppose the upper class, but I want the standard of living of the middle class and lower class raised to a comfortable and secure level.

Neither political party has a clear plan to do that. Instead, politicians essentially say, often fairly subtly, "Trust me. Give me power and I will solve all your problems."

Jim

Jim

Actually it has been part of the wish list of Republicans for those that work to actually work for the pay they deserve, rather than what others that haven't even worked with them thaink they deserve. Personally? Myself and my hubby always found we could negotiate what we were worth with our employers as well as when we had our own business gave the employees that worked for us they fair due. You work hard, show initiative then you will be rewarded. And I don't mean simply showing up to do a job by clocking in and out on time.

The definition of the upper upper class has always required old family, so people like Queen Elizabeth and the Asters are upper upper class.

I didn't realize that Queen Elizabeth was American and the Astor's (note proper spelling) are no longer an American icon as they are pretty much broke, from what I hear.

Look at Bill Gates #1, Warren Buffett #2, pretty much self made. Buffett as a child went door to door selling chewing gum and coca cola! He also worked in his grandfather's grocery store, for goodness sakes! Next #3 Larry Ellison was born to an unwed mother and an airforce pilot! #4 Charles Koch took his dad's small petroleum products businesss and transformed it into 2600 times the size it was when he became CEO. When young his father made them pick dandelions while friends played, and when older they had to shovel manure at nearby ranches. They also had an hour a week in which their father preached economics to he and his siblings. #5 David Koch, Charles brother, whom endured the above as well. Each one worked hard and got several degrees within their field of interests to better themselves.


I could go on but hopefully you get the picture. The richest in the US certainly did not get the wealth handed to them on a silver platter.

And Buffet and Gates support increased taxes on the very wealthy.

what type of tax increase do they support? In capital gains, corporate or in personal income derived from salaries?

 

[Whereisup]

The upper upper class is defined as being from an upper upper class old family. At least that's the official social science definition. It is not necessary for someone to have money to be a member of the upper upper class. Similarly, it is impossible for someone newly rich to be a member of the upper upper class.

The upper class is now pretty much international because the giant corporations are international. The wealthy of all nations are constantly interacting, they frequently have relatives in two or more nations, and they move from nation to nation easily. Many American wealthy end up moving to Europe, for example.

Interestingly, even China is getting in on the act. The Chinese Communist Party high officials have for the last couple of decades been trying to join the international upper class by requiring companies which open subsidiaries in China to hire their relatives in top positions. If foreign corporations refuse, they aren't allowed to do business in China.

We are all a bit egotistical, so this doesn't make anyone worse than I am or than anyone else is. However, people who are successful in business like to think that it is due to their own superior qualities, while anyone not successful in business is an inferior person.

People who are successful in business do work hard, and that is required. However, the majority of their success is luck.

First, there are many subtle things involved in being successful in business. For example, one has to talk to others in the right tone of voice, and say the right things at the right time. Most people never have a chance to learn those other things, so they work hard but they are not successful. Many people learn the subtle things from their parents and/or other older relatives - sort of by osmosis. That is the reason that business success tends to run in families. Other people learn the subtle things from a mentor, but most people never find a mentor. So the majority of people work hard and are responsible, but only a few of them are lucky enough to learn what to do from their family or a mentor. A few figure out what the subtle things are by watching other successful people, but that is also a small number and requires certain social perception skills.

There is also luck in time and place. People who started computer related companies happened to think up an idea, or stole an idea, before other people got into the field. After the field was already taken, people who worked hard to try to get into it simply couldn't. They were not at the right time, and that is a matter of luck.

Another example is Knott's Berry Farm. It started as a fruit stand during the depression of the 1930, and then the women of the family began baking pies to sell and then added chicken meals. The family was lucky to just happen to be leasing a farm on the major highway between Los Angeles and the San Bernardino-Riverside area. Traffic was still light at the time, but as traffic built up, so did their business. Some of my relatives used to stop to buy something before the business because highly successful.

Many other people ran fruit stands, but they weren't located on a main highway where traffic was building up. Afterward, many people tried to copy the family, but although they worked hard, they never were successful.

So luck is needed along with hard work.

Jim