Top 8% Own 85%

[Brain357]

I wonder if the OP will ever respond tot he following. Wonder what he's afraid of?



Our economic system has raised more people out of poverty around the world than any other economic system in human history. Why are people on the left so fucking ignorant?

Question: Name any economic system better than ours? Go ahead...I'm sure we'll all be waiting with baited breath.

Are you happy with a slow economy?

Who is....but the OP questions the underlying basis of our economic system. My question is simple. Name any economic system that is better?


The OP is an obvious left-wing moon bat pussy... I never expected any response from a brain dead moon-bat troll.....but if anyone else wants to take a shot at my question go for it.

Too much inequality slows an economy. Look at how slow ours is. What is wrong with recognizing that?
Inequality hurts economic growth, finds OECD research - OECD

 

[Toddsterpatriot]

Most studies suggest that about one-fifth of the increase in economic inequality in America among men in recent decades is the result of the decline in unions. It may be more: A study in the American Sociological Review, using the broadest methodology, estimates that the decline of unions may account for one-third of the rise of inequality among men.

Take construction workers. A full-time construction worker earns about $10,000 less per year now than in 1973, in today’s dollars, according to Rosenfeld. One reason is probably that the proportion who are unionized has fallen in that period from more than 40 percent to just 14 percent.

Many Americans think unions drag down the economy over all, but scholars disagree. American auto unions are often mentioned, but Germany’s car workers have a strong union, and so do Toyota’s in Japan and Kia’s in South Korea.

In Germany, the average autoworker earns about $67 per hour in salary and benefits, compared with $34 in the United States. Yet Germany’s car companies in 2010 produced more than twice as many vehicles as American companies did, and they were highly profitable. It’s too glib to say that the problem in the American sector was just unions.

http://www.nytimes.com/2015/02/19/opinion/nicholas-kristof-the-cost-of-a-decline-in-unions.html?_r=0

If we are going to do as Trump says and become great again, we need strong unions AGAIN.

Take construction workers. A full-time construction worker earns about $10,000 less per year now than in 1973, in today’s dollars

Bring in enough illegals to work construction, wages for Americans will decline.


Many Americans think unions drag down the economy over all, but scholars disagree. American auto unions are often mentioned, but Germany’s car workers have a strong union, and so do Toyota’s in Japan and Kia’s in South Korea.

The difference between our thug unions and those other unions is pretty large.

 

[Toddsterpatriot]

Most studies suggest that about one-fifth of the increase in economic inequality in America among men in recent decades is the result of the decline in unions. It may be more: A study in the American Sociological Review, using the broadest methodology, estimates that the decline of unions may account for one-third of the rise of inequality among men.

Take construction workers. A full-time construction worker earns about $10,000 less per year now than in 1973, in today’s dollars, according to Rosenfeld. One reason is probably that the proportion who are unionized has fallen in that period from more than 40 percent to just 14 percent.

Many Americans think unions drag down the economy over all, but scholars disagree. American auto unions are often mentioned, but Germany’s car workers have a strong union, and so do Toyota’s in Japan and Kia’s in South Korea.

In Germany, the average autoworker earns about $67 per hour in salary and benefits, compared with $34 in the United States. Yet Germany’s car companies in 2010 produced more than twice as many vehicles as American companies did, and they were highly profitable. It’s too glib to say that the problem in the American sector was just unions.

http://www.nytimes.com/2015/02/19/opinion/nicholas-kristof-the-cost-of-a-decline-in-unions.html?_r=0

If we are going to do as Trump says and become great again, we need strong unions AGAIN.

Well if unions are so great, how did our UNION companies fall into such financial disaster that they needed to get bailed out by our government?

And if unions are so great, why doesn't Toyota have them here just like Japan?

Unions don't control what stupid moves the execs make. Execs make the decisions that lead to financial disaster and bailouts.

Toyota isn't concerned about Americans making good money. Republicans have waged this war on unions and made it easy for companies. We should require they be Union.

Unions don't control what stupid moves the execs make.

Exactly! The unions are too busy making their own stupid moves.

 

[Toddsterpatriot]

We are definitely hurting from the decline of unions.

Unions are the worst. We need to outlaw government unions.

I think we need to stop importing workers and some well placed tariffs might help.

Boot 15 million illegals, wages will rise. Unemployment will tank.
Tariffs just help the connected. Like the Fanjul family benefits from sugar tariffs.

Maybe raise minimum wage,

Boot the illegals, enforce E-Verify, companies would have to pay more than the minimum to get workers.

Unions the worst? You must be joking. The decline in unions has only been bad for us.

It's only been bad for mediocre workers who now don;t get their unwarranted raises and protection from being shit canned

Wages are stagnant, been bad for most everyone. Union auto workers get paid more than non Union. Union teachers get paid more than private school teachers. The decline in unions has been very bad for us.

I disagree

Unions are the last bastion of the mediocre

We have seen the results of the union decline. Stagnant wages. You can disagree, but you'd be wrong.

Thank goodness the unions got a chance to run their own business at United Airlines.

How'd that work out again? Do you remember?

 

[Toddsterpatriot]

This is really screwed up...and we Americans fight among ourselves over stupid things. All the while the elites are screwing us. When will we wake up and take action?


The Panama Papers offer damning proof of this: increasing concentrations of wealth and power that are free of any constraint (such as taxes) is not just the consequence of centralized money and state power--this inequality is the only possible output of centralized money and state power.

Here is a graphic portrayal of just how concentrated global wealth really is: the top .7% (less than 1%) own 45% of all global wealth, and the top 8% own 85%.

Of Two Minds - The Panama Papers: This Is the Consequence of Centralized Money and Power

***Socialist propaganda alert***

Class warfare.

The utopia myth being sold to the perpetually ignorant.

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

 

[Andylusion]

I really don't understand what you are pointing out other than the fact rich people are rich.

Well then you need to open your mind and read the article.

The system is set up purposely to enrich the rich and force debt on the rest of us.

The system? How? Force you in debt? How does anyone force you to be in debt? Did someone put a gun to your head, and demand you sign up for Discover Card?

What kind of idiocy, is this? The only reason stupid people are in debt, is because they want to buy stuff, they haven't earned the money to pay for.

I just posted an article of a Mexican who came here with no education, who didn't have a work permit, and created a company making drones. He's now a billionaire.

Stop complaining, and start working. Whiny spoiled brat Americanism. Grow up.

 

[Toddsterpatriot]

This is really screwed up...and we Americans fight among ourselves over stupid things. All the while the elites are screwing us. When will we wake up and take action?


The Panama Papers offer damning proof of this: increasing concentrations of wealth and power that are free of any constraint (such as taxes) is not just the consequence of centralized money and state power--this inequality is the only possible output of centralized money and state power.

Here is a graphic portrayal of just how concentrated global wealth really is: the top .7% (less than 1%) own 45% of all global wealth, and the top 8% own 85%.

Of Two Minds - The Panama Papers: This Is the Consequence of Centralized Money and Power

***Socialist propaganda alert***

Class warfare.

The utopia myth being sold to the perpetually ignorant.

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

Socialists always bemoan the distribution of wealth. Their solution of course being to move it from capitalists to themselves. Being a regular poster engaged in politics. Your OP is classic socialist. You would know that. If that's not your point, you should have made your point clearer. In fact you made no point.

I'm just answering your question why no one knows what your point is

That is ridiculous and ignorant.

Clearly 8% owning 85% indicates corruption and collusion far greater than anything the Mafia could have ever considered. Yet, you think anyone condemning this fraud is a Socialist.

Get the F**K out of here...

Clearly 8% owning 85% indicates corruption and collusion

What is the proper, non-corrupt, amount for the top 8% to own?
How do you know?

 

[Pop23]

Income inequality means that some are making much more than others. That's the way a capitalist system works; the more you produce--the more you make.

If you believe in capitalism, then you should have no problem with how much other people make. That's the way a capitalist system works. If you do have a problem with income inequality, then obviously you have a problem with capitalism.

Are the rich supposed to collude to pay workers less like the examples I have shown? That isn't good capitalism.

They don't collude anything.

A worker is only worth as much as another person that will do the same quality of work for the same money. That's how wages are decided.

If you make $15.00 per hour, and tell your boss you want $18.00 per hour, but he could find other people happy to take your job for $15.00, that's the route he will take.

It's not just monkey jobs, it's all jobs including mine. If I tell my boss I need another two bucks an hour to stay on the job, he has to evaluate whether or not he can replace me and my quality of work. If he cannot, I make more money. If he believes he can, he tells me to take my demands and go pound a salt bag.

Big corporations are not the largest employer in America--small businesses are, and they are not colluding with anybody. The biggest problem we have in the US is foreign workers. That's because they screw up the supply and demand process. By allowing them to enter this country, they create an endless supply of workers. And as supply and demand dictates, the more supply and lower demand, the lower the price.

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

 

[Remodeling Maidiac]

The bottom 8% whine like their a majority 92%

 

[Brain357]

This is really screwed up...and we Americans fight among ourselves over stupid things. All the while the elites are screwing us. When will we wake up and take action?


The Panama Papers offer damning proof of this: increasing concentrations of wealth and power that are free of any constraint (such as taxes) is not just the consequence of centralized money and state power--this inequality is the only possible output of centralized money and state power.

Here is a graphic portrayal of just how concentrated global wealth really is: the top .7% (less than 1%) own 45% of all global wealth, and the top 8% own 85%.

Of Two Minds - The Panama Papers: This Is the Consequence of Centralized Money and Power

***Socialist propaganda alert***

Class warfare.

The utopia myth being sold to the perpetually ignorant.

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

Really?
Cuba’s Reforms Fail to Reduce Growing Inequality | Inter Press Service

 

[Brain357]

Are the rich supposed to collude to pay workers less like the examples I have shown? That isn't good capitalism.

They don't collude anything.

A worker is only worth as much as another person that will do the same quality of work for the same money. That's how wages are decided.

If you make $15.00 per hour, and tell your boss you want $18.00 per hour, but he could find other people happy to take your job for $15.00, that's the route he will take.

It's not just monkey jobs, it's all jobs including mine. If I tell my boss I need another two bucks an hour to stay on the job, he has to evaluate whether or not he can replace me and my quality of work. If he cannot, I make more money. If he believes he can, he tells me to take my demands and go pound a salt bag.

Big corporations are not the largest employer in America--small businesses are, and they are not colluding with anybody. The biggest problem we have in the US is foreign workers. That's because they screw up the supply and demand process. By allowing them to enter this country, they create an endless supply of workers. And as supply and demand dictates, the more supply and lower demand, the lower the price.

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

 

[Pop23]

They don't collude anything.

A worker is only worth as much as another person that will do the same quality of work for the same money. That's how wages are decided.

If you make $15.00 per hour, and tell your boss you want $18.00 per hour, but he could find other people happy to take your job for $15.00, that's the route he will take.

It's not just monkey jobs, it's all jobs including mine. If I tell my boss I need another two bucks an hour to stay on the job, he has to evaluate whether or not he can replace me and my quality of work. If he cannot, I make more money. If he believes he can, he tells me to take my demands and go pound a salt bag.

Big corporations are not the largest employer in America--small businesses are, and they are not colluding with anybody. The biggest problem we have in the US is foreign workers. That's because they screw up the supply and demand process. By allowing them to enter this country, they create an endless supply of workers. And as supply and demand dictates, the more supply and lower demand, the lower the price.

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

Yet they then support the party that won't discuss deporting them.

You simply can't make this stuff up

 

[Toddsterpatriot]

This is really screwed up...and we Americans fight among ourselves over stupid things. All the while the elites are screwing us. When will we wake up and take action?


The Panama Papers offer damning proof of this: increasing concentrations of wealth and power that are free of any constraint (such as taxes) is not just the consequence of centralized money and state power--this inequality is the only possible output of centralized money and state power.

Here is a graphic portrayal of just how concentrated global wealth really is: the top .7% (less than 1%) own 45% of all global wealth, and the top 8% own 85%.

Of Two Minds - The Panama Papers: This Is the Consequence of Centralized Money and Power

***Socialist propaganda alert***

Class warfare.

The utopia myth being sold to the perpetually ignorant.

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

Really?
Cuba’s Reforms Fail to Reduce Growing Inequality | Inter Press Service

Even Commies have inequality?
Maybe it's a force of nature?

 

[Brain357]

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

Yet they then support the party that won't discuss deporting them.

You simply can't make this stuff up

You really believe the Republicans want to deport them? Seriously?

 

[Brain357]

***Socialist propaganda alert***

Class warfare.

The utopia myth being sold to the perpetually ignorant.

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

Really?
Cuba’s Reforms Fail to Reduce Growing Inequality | Inter Press Service

Even Commies have inequality?
Maybe it's a force of nature?

Inequality is good for an economy, just not too much. When there is too much is slows the economy.

 

[Toddsterpatriot]

They don't collude anything.

A worker is only worth as much as another person that will do the same quality of work for the same money. That's how wages are decided.

If you make $15.00 per hour, and tell your boss you want $18.00 per hour, but he could find other people happy to take your job for $15.00, that's the route he will take.

It's not just monkey jobs, it's all jobs including mine. If I tell my boss I need another two bucks an hour to stay on the job, he has to evaluate whether or not he can replace me and my quality of work. If he cannot, I make more money. If he believes he can, he tells me to take my demands and go pound a salt bag.

Big corporations are not the largest employer in America--small businesses are, and they are not colluding with anybody. The biggest problem we have in the US is foreign workers. That's because they screw up the supply and demand process. By allowing them to enter this country, they create an endless supply of workers. And as supply and demand dictates, the more supply and lower demand, the lower the price.

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

BS. None of the thug unions have come out for building a wall or booting the illegals.

 

[Toddsterpatriot]

Ridiculous and absurd.

The system is rigged. If you don't know that, I can't help you.

My OP and posts in this thread have absolutely nothing to do with socialism. I have posted here for years and condemned the left and big government repeatedly...and one post on the horrors of income inequality and righties jump on me, thinking I am proposing socialism. WTF is this all about?

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

Really?
Cuba’s Reforms Fail to Reduce Growing Inequality | Inter Press Service

Even Commies have inequality?
Maybe it's a force of nature?

Inequality is good for an economy, just not too much. When there is too much is slows the economy.

Inequality is good for an economy, just not too much.

What is the exact right amount? How do you know?

When there is too much is slows the economy.

Why?

 

[Brain357]

I already gave several examples of corporations getting caught colluding to hold down workers wages. Yes it does happen. Most just don't get caught.

Right to work for less states aren't really doing that great.

They're doing fine because they are attracting businesses over non-right to work states.

That's besides the fact that the cost of living is different depending on where you go. A $300,000 house here is a large beautiful house in a development. A $300,000 house in other places is almost the ghetto.

About eight years ago, I had a kid that moved here from New York to go to school. I generally charged at the time around $500.00 per apartment give or take. He told me that if I could magically take my property, move it to the outskirts of NYC, I could easily get $1,800 for each of my apartments.

While people in the south make less money, they also have a much lower cost of living. Watch HGTV sometime when people are buying houses, and take note of what $700,000 will buy you if you are looking for a home in the NE states. It's ridiculous.

They still make less. And as I have shown, non union workers make less than union workers. All this making less leaves us with stagnant wages, growing inequality and a slow economy. That is bad for everybody.

Which won't change with 11 million illegals driving wages down.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

We probably wouldn't have an immigration problem if unions were strong. They aren't big on people coming in and working for cheap.

BS. None of the thug unions have come out for building a wall or booting the illegals.

They have been anti immigration and probably would be now if they weren't so weakened.
Immigration policies of American labor unions - Wikipedia, the free encyclopedia

 

[Brain357]

They seem to enjoy a slow economy.
Inequality hurts economic growth, finds OECD research - OECD

Everyone is equal in Cuba.
Look at their massive economic growth!

Really?
Cuba’s Reforms Fail to Reduce Growing Inequality | Inter Press Service

Even Commies have inequality?
Maybe it's a force of nature?

Inequality is good for an economy, just not too much. When there is too much is slows the economy.

Inequality is good for an economy, just not too much.

What is the exact right amount? How do you know?

When there is too much is slows the economy.

Why?

Because the affluent tend to save more of what they earn rather than spend it, as more and more of the nation’s income goes to people at the top income brackets, there isn’t enough demand for goods and services to maintain strong growth, and attempts to bridge that gap with debt feed a boom-bust cycle of crises, the report argues. High inequality can feed on itself, as the wealthy use their resources to influence the political system toward policies that help maintain that advantage, like low tax rates on high incomes and low estate taxes, and underinvestment in education and infrastructure.
http://www.nytimes.com/2014/08/06/upshot/alarm-on-income-inequality-from-a-mainstream-source.html

 

[gipper]

I really don't understand what you are pointing out other than the fact rich people are rich.

Well then you need to open your mind and read the article.

The system is set up purposely to enrich the rich and force debt on the rest of us.

The system? How? Force you in debt? How does anyone force you to be in debt? Did someone put a gun to your head, and demand you sign up for Discover Card?

What kind of idiocy, is this? The only reason stupid people are in debt, is because they want to buy stuff, they haven't earned the money to pay for.

I just posted an article of a Mexican who came here with no education, who didn't have a work permit, and created a company making drones. He's now a billionaire.

Stop complaining, and start working. Whiny spoiled brat Americanism. Grow up.

Most absurd.

Read the article dipshit. You don't understand jack.

Why do you defend government, the elites, and big business committing fraud to enrich themselves?

I have no debt and never use a credit card asshole. I am rather wealthy and retired at the age of 52. So, you don't know what the fuck you are talking about.

Only a dumb ass would defend 8% of the world's population having 85% of the world's wealth.