What should the wealthy do? Libs How should they be sharing there wealth?

[zeke]

Income disparity is a problem batted back and forth between Conservatives and Liberals like a shuttlecock. But the problem isn't merely a parlor game nor is it something easily dismissed as envy or resentment.

The actual problem leads to s lowing economy. If the wealth is held by the very few and the very many are not compensated adequately, there is less money flowing through the economy. Economic growth is defined as the exchange of capitol for goods and services. If those goods and services are outside the budgets of the majority, those goods and services will not be utilized and the exchange of capital stops.

When a CEO can run a business into the ditch and then get a bonus for doing so, the values have been warped to something unidentifiable as Capitalism. If the workers who are actually producing the wealth for the few are under compensated, there is less and less opportunity open for those workers because the flow of cash is so constricted.

Looking for a working paradigm for this disparity? Read the story of the goose that laid golden eggs.

Why dont you outline the exact problem with wealth disparity.

As many times as I've challenged posters to do this they never rise to it. I sometimes get nonsense like, "Well in South America...". This isnt South America. The problem in those countries is crony capitalism and protectionism that yields those results. We dont have a lot of that here. Yet.

Why? You wouldn't believe the source. Or just dismiss the info out of hand.

But the better question is why do YOU think wage and income disparity is GOOD for the country.

I mean we already know that the ultra wealthy have never had it so good but what is the benefit to the rest of us?

 

[The Rabbi]

Income disparity is a problem batted back and forth between Conservatives and Liberals like a shuttlecock. But the problem isn't merely a parlor game nor is it something easily dismissed as envy or resentment.

The actual problem leads to s lowing economy. If the wealth is held by the very few and the very many are not compensated adequately, there is less money flowing through the economy. Economic growth is defined as the exchange of capitol for goods and services. If those goods and services are outside the budgets of the majority, those goods and services will not be utilized and the exchange of capital stops.

When a CEO can run a business into the ditch and then get a bonus for doing so, the values have been warped to something unidentifiable as Capitalism. If the workers who are actually producing the wealth for the few are under compensated, there is less and less opportunity open for those workers because the flow of cash is so constricted.

Looking for a working paradigm for this disparity? Read the story of the goose that laid golden eggs.

Why dont you outline the exact problem with wealth disparity.

As many times as I've challenged posters to do this they never rise to it. I sometimes get nonsense like, "Well in South America...". This isnt South America. The problem in those countries is crony capitalism and protectionism that yields those results. We dont have a lot of that here. Yet.

Why? You wouldn't believe the source. Or just dismiss the info out of hand.

But the better question is why do YOU think wage and income disparity is GOOD for the country.

I mean we already know that the ultra wealthy have never had it so good but what is the benefit to the rest of us?

Translation: You have no idea why it is good or bad.
Income disparity mirrors disparity in effort and ability. Something you have quite a bit of experience with.

 

[Skull Pilot]

he is talking about somebody making a million a year by working - that guy CAN accumulate capital. Somebody working on 15$ an hour is not, probably, paying ANY income taxes.

Stop bullshitting

No I am talking about anyone earning anything.

Tell me if you saved 200 a month for 50 years would you not have accumulated a substantial amount of capital?

In fact if you only got an 8% return (less than the DJIA) you would have 1.5 million

Even as a 16 year old I could save 200 a month so why can't you?

The problem here is you people that constantly whine about other people's money don't understand money at all.

Why hells bells, the can man can make and save 200 a month.

Even an idiot like you can too!!

Imagine that

If it is so simple to wait 50 years to become a millionaire, are you not surprised that we aren't all millionaires? I mean EVERYBODY can save 200 dollars a month. Well.....not everybody........but enough can to prove your point. If only they understood money like you do.

Tell me what's not simple about saving some money every month.
It's very simple you either save 50 a week from your pay or you get a second job so you can save 50 a week.

OH MY GAWD that's soooooooo fucking complicated right?

 

[Brain357]

No I am talking about anyone earning anything.

Tell me if you saved 200 a month for 50 years would you not have accumulated a substantial amount of capital?

In fact if you only got an 8% return (less than the DJIA) you would have 1.5 million

Even as a 16 year old I could save 200 a month so why can't you?

The problem here is you people that constantly whine about other people's money don't understand money at all.

Why hells bells, the can man can make and save 200 a month.

Even an idiot like you can too!!

Imagine that

If it is so simple to wait 50 years to become a millionaire, are you not surprised that we aren't all millionaires? I mean EVERYBODY can save 200 dollars a month. Well.....not everybody........but enough can to prove your point. If only they understood money like you do.

Tell me what's not simple about saving some money every month.
It's very simple you either save 50 a week from your pay or you get a second job so you can save 50 a week.

OH MY GAWD that's soooooooo fucking complicated right?

Then your car breaks down and you get a $500 unexpected bill. Well there is 10 weeks gone. While it can be done, it's not that easy. Lots of things unexpected can happen. Or maybe you just can't get a good enough job so all the money goes for expenses. Can't just get a second job if you have kids to take care of. I think what your saying can be done, but don't act like it is so simple and easy.

 

[The Rabbi]

Poor people always have an excuse why they can't do something.
Successful people always figure out a way to do something.

 

[Brain357]

Poor people always have an excuse why they can't do something.
Successful people always figure out a way to do something.

Lots of successful people come from money so it's a lot easier.

 

[The Rabbi]

Poor people always have an excuse why they can't do something.
Successful people always figure out a way to do something.

Lots of successful people come from money so it's a lot easier.

And many don't.
But successful people figure out ways around problems.
Poor people get stopped by problems and use them as excuses.

 

[Brain357]

Poor people always have an excuse why they can't do something.
Successful people always figure out a way to do something.

Lots of successful people come from money so it's a lot easier.

And many don't.
But successful people figure out ways around problems.
Poor people get stopped by problems and use them as excuses.

I think you should change many to some. I used to think more like you but now I've seen how things are. Most the money stays in the same families generation after generation. And it's not because they are so smart or work harder than others. It's easy to make money when you have money. I don't deny that some people work really hard and find a way to make it. But for every one of those there are probably 100 who had rich parents, went to a big school, got a job because of contacts parents have, make a lot of money like parents. I've seen how quickly the chosen get promoted and also how hard they don't work. The inherited rich protect each other. And I am sure there are some rich kids who are driven and deserve everything they get. So I don't want to seem completely negative on them.

 

[The Rabbi]

Lots of successful people come from money so it's a lot easier.

And many don't.
But successful people figure out ways around problems.
Poor people get stopped by problems and use them as excuses.

I think you should change many to some. I used to think more like you but now I've seen how things are. Most the money stays in the same families generation after generation. And it's not because they are so smart or work harder than others. It's easy to make money when you have money. I don't deny that some people work really hard and find a way to make it. But for every one of those there are probably 100 who had rich parents, went to a big school, got a job because of contacts parents have, make a lot of money like parents. I've seen how quickly the chosen get promoted and also how hard they don't work. The inherited rich protect each other. And I am sure there are some rich kids who are driven and deserve everything they get. So I don't want to seem completely negative on them.

So that's your excuse? OK< run with it.

 

[Katzndogz]

You wrongly assume that those who labor cannot accumulate capital.

Hey maybe you want to correct that assumption and tell all just how much "capital" those that labor can accumulate. Is it 500 dollars? Is 500 dollars a LOT of capital to you? How much "capital" you think you could put together on a 15 dollar an hour job? Or even 20 dollars an hour.

If you put 200 a month into a mutual fund that averages 8% over a working career you would have close to a million dollars.

That's a nice accumulation of capital is it not?

Yes sir, need 2 million dollars capital to start a business, just get a 15 dollar an hour job........and buy lottery tickets. That will be the only way you might get close to 2 million dollars.

Sorry but not that many small business start ups need 2 million.

Even a 2 million dollar franchise only needs a fraction of that for start up money.

And since when does capital have to be used to start a business.

I started one business with less than $500.00 and another business on a credit card. I know one business that sold for millions of dollars that started with a $100.00 tax refund.

 

[Vandalshandle]

What should the wealthy do?

For a start, they need to be stopped from using smoke and mirrors made up of offshore accounts.....

"As Newt Gingrich put it during the primary season, &#8220;I don&#8217;t know of any American president who has had a Swiss bank account.&#8221; But Romney has, as well as other interests in such tax havens as Bermuda and the Cayman Islands.

To give but one example, there is a Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which has been described in securities filings as &#8220;a Bermuda corporation wholly owned by W. Mitt Romney.&#8221; It could be that Sankaty is an old vehicle with little importance, but Romney appears to have treated it rather carefully. He set it up in 1997, then transferred it to his wife&#8217;s newly created blind trust on January 1, 2003, the day before he was inaugurated as Massachusetts&#8217;s governor. The director and president of this entity is R. Bradford Malt, the trustee of the blind trust and Romney&#8217;s personal lawyer. Romney failed to list this entity on several financial disclosures, even though such a closely held entity would not qualify as an &#8220;excepted investment fund&#8221; that would not need to be on his disclosure forms. He finally included it on his 2010 tax return. Even after examining that return, we have no idea what is in this company, but it could be valuable, meaning that it is possible Romney&#8217;s wealth is even greater than previous estimates. While the Romneys&#8217; spokespeople insist that the couple has paid all the taxes required by law, investments in tax havens such as Bermuda raise many questions, because they are in &#8220;jurisdictions where there is virtually no tax and virtually no compliance,&#8221; as one Miami-based offshore lawyer put it.
That&#8217;s not the only money Romney has in tax havens. Because of his retirement deal with Bain Capital, his finances are still deeply entangled with the private-equity firm that he founded and spun off from Bain and Co. in 1984. Though he left the firm in 1999, Romney has continued to receive large payments from it&#8212;in early June he revealed more than $2 million in new Bain income. The firm today has at least 138 funds organized in the Cayman Islands, and Romney himself has personal interests in at least 12, worth as much as $30 million, hidden behind controversial confidentiality disclaimers. Again, the Romney campaign insists he saves no tax by using them, but there is no way to check this.

Bain Capital is the heart of Romney&#8217;s fortune: it was the financial engine that created it. The mantra of his campaign is that he was a businessman who created tens of thousands of jobs, and Bain certainly did bring useful operational skills to many companies it bought. But his critics point to several cases where Bain bought companies, loaded them with debt, and paid itself extravagant fees, thereby bankrupting the companies and destroying tens of thousands of jobs."

Investigation: Mitt Romney?s Offshore Accounts, Tax Loopholes, and Mysterious I.R.A. | Vanity Fair

 

[The Rabbi]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

 

[Brain357]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

 

[Pinocchio]

Dereg favors the rich. During the boom and bust, the rich clean up in both directions.

 

[The Rabbi]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why is it "unAmerican"?

 

[Brain357]

It's not illegal to have an off shore account. Jack Lew has one. So do other members of the Democratic party.
Thats the least of the issue Although someone more intelligent might want to ask why wealthy people feel the need to stash money like that.

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why is it "unAmerican"?

Ask Romney.

 

[Interpol]

It isn't a question of what rich people can "do", but a question of why they benefit more from tax laws than you or I do.

I just don't earn enough to qualify for some of the huge tax breaks that we all have to end up paying for so that they can enjoy.

If you ask the average American idiot or teabagger, they'll tell you that welfare to the poor is one of the big problems in the country. Of course, welfare to the poor is only a drop in the bucket compared to welfare for the rich, but the average American idiot or teabagger doesn't have the time or the patience to look at the numbers.

From huge corporate agribusiness to private contractors to weapons manufacturers to those who caused our economic collapse 5 years ago on Wall Street, they are all the benefactors of our hard work. We slave away and do what we're told so they can have it all.

Then we throw nickels at poor people and teabaggers think that's the problem. Fucking morons.

 

[The Rabbi]

It's not illegal, but as Romney found out, it's not very American. It certainly does not help our country.

Why is it "unAmerican"?

Ask Romney.

Romney didnt say it was unAmerican. I'm asking you, shithead.

 

[Brain357]

Why is it "unAmerican"?

Ask Romney.

Romney didnt say it was unAmerican. I'm asking you, shithead.

Well he found out it was so he knows now. I don't understand why you would have to ask. I would guess the answer might be a little different depending who you ask. But it comes down to Romney getting all the benefits of being a US citizen, but then cheating the country when it's his time to pay back.

 

[The Rabbi]

It isn't a question of what rich people can "do", but a question of why they benefit more from tax laws than you or I do.

I just don't earn enough to qualify for some of the huge tax breaks that we all have to end up paying for so that they can enjoy.

If you ask the average American idiot or teabagger, they'll tell you that welfare to the poor is one of the big problems in the country. Of course, welfare to the poor is only a drop in the bucket compared to welfare for the rich, but the average American idiot or teabagger doesn't have the time or the patience to look at the numbers.

From huge corporate agribusiness to private contractors to weapons manufacturers to those who caused our economic collapse 5 years ago on Wall Street, they are all the benefactors of our hard work. We slave away and do what we're told so they can have it all.

Then we throw nickels at poor people and teabaggers think that's the problem. Fucking morons.

The heads of those companies paid more in taxes than 90% of everyone else.

You want to eliminate corporate subsidies? Great. Get rid of green energy loans. Get rid of phony infrastructure spending. Get rid of Bacon-Davis. Get rid of ag subsidies.

But the brain dead left wont do it.