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Redistribution of Wealth - To The Rich
- 2wlady
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14 Jan 2011 13:53 #11
by 2wlady
Replied by 2wlady on topic Redistribution of Wealth - To The Rich
Now I'm waiting for PrintSmith.
Great stats, SC. I've been using these studies for years and but talking to the selective deaf ears.
Great stats, SC. I've been using these studies for years and but talking to the selective deaf ears.
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- FredHayek
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14 Jan 2011 15:00 #12
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Redistribution of Wealth - To The Rich
You need to look at the world to understand the wealth issue. In the 50's, 60's, & 70's, American industry didn't have a lot of competition. They could afford to pay high wages. Now they can't, the industries that were paying higher wages like GM & Chrysler had to be bailed out.
And education used to be the way to more money, but now the tuition has risen much faster than inflation for over 2 decades and now people are graduating with degrees and winding up as baristas because they aren't going into the right fields.
And education used to be the way to more money, but now the tuition has risen much faster than inflation for over 2 decades and now people are graduating with degrees and winding up as baristas because they aren't going into the right fields.
Thomas Sowell: There are no solutions, just trade-offs.
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- bailey bud
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14 Jan 2011 16:42 #13
by bailey bud
Bill Gates - dropped out of school and " developed" a nearly ubiquitous operating system for computers.
Warren Buffet - investment maven with a wonderous ability to identify value.
Larry Ellison - college dropout - developed a great little database, though - Oracle
Christy Walton - inherited fortune from her husband
Koch brothers (David/Charles) - okay - I admit - these guys send a chill up my spine.....
Jim Walton - developed an incredibly powerful business model.
In general, billionaires get that way by working hard. Yeah - there's a good number of people who inherit their fortunes. I suppose I might think about limiting inheritance. But where would the money go? Like I said - I'd just assume not put it into government coffers, just to get gobbled up by a bunch of "experts." I think foundations are really the better way to go.
Replied by bailey bud on topic Redistribution of Wealth - To The Rich
It is important to identify who those rich people are and how they got rich
Bill Gates - dropped out of school and " developed" a nearly ubiquitous operating system for computers.
Warren Buffet - investment maven with a wonderous ability to identify value.
Larry Ellison - college dropout - developed a great little database, though - Oracle
Christy Walton - inherited fortune from her husband
Koch brothers (David/Charles) - okay - I admit - these guys send a chill up my spine.....
Jim Walton - developed an incredibly powerful business model.
In general, billionaires get that way by working hard. Yeah - there's a good number of people who inherit their fortunes. I suppose I might think about limiting inheritance. But where would the money go? Like I said - I'd just assume not put it into government coffers, just to get gobbled up by a bunch of "experts." I think foundations are really the better way to go.
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- bailey bud
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14 Jan 2011 17:07 #14
by bailey bud
Replied by bailey bud on topic Redistribution of Wealth - To The Rich
There's two categories of companies that bug me:
- Private Equity firms (Carlisle, Blackstone, etc)
- Hedge Funds
The Private Equity firms are incredibly powerful, and generally invisible. They do not have boards that have public meetings.
The hedge funds use market power to buy commodities (for example) - and low prices - but drive prices up by hoarding (and then sell).
While I'm no doubt jealous of Gates - I can't really deny him his place in the world. He's very successful, and earned his place.
(same goes for Buffet and Ellison).
- Private Equity firms (Carlisle, Blackstone, etc)
- Hedge Funds
The Private Equity firms are incredibly powerful, and generally invisible. They do not have boards that have public meetings.
The hedge funds use market power to buy commodities (for example) - and low prices - but drive prices up by hoarding (and then sell).
While I'm no doubt jealous of Gates - I can't really deny him his place in the world. He's very successful, and earned his place.
(same goes for Buffet and Ellison).
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- Rick
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14 Jan 2011 17:47 #15
by Rick
It was always the women, and above all the young ones, who were the most bigoted adherents of the Party, the swallowers of slogans, the amateur spies and nosers−out of unorthodoxy
George Orwell
Replied by Rick on topic Redistribution of Wealth - To The Rich
Businesses who hire people are responsible for most of the wealth and growth in our economy. Yes there are rich people getting richer, that's what happens when people are free to invest, take risks, and develop businesses. When you try to take down the "rich", you also take down the employers which will then take down the employed, which will then lead to a dead economy.
Cutting off the nose to spite the face.
Cutting off the nose to spite the face.
It was always the women, and above all the young ones, who were the most bigoted adherents of the Party, the swallowers of slogans, the amateur spies and nosers−out of unorthodoxy
George Orwell
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- jf1acai
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14 Jan 2011 18:29 #16
by jf1acai
Experience enables you to recognize a mistake when you make it again - Jeanne Pincha-Tulley
Comprehensive is Latin for there is lots of bad stuff in it - Trey Gowdy
Replied by jf1acai on topic Redistribution of Wealth - To The Rich
[sarcasm]You have it all wrong. People should all be employed by the government, people with money should give it to the government, then we have utopia![/sarcasm]
Experience enables you to recognize a mistake when you make it again - Jeanne Pincha-Tulley
Comprehensive is Latin for there is lots of bad stuff in it - Trey Gowdy
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- ScienceChic
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14 Jan 2011 18:39 #17
by ScienceChic
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Replied by ScienceChic on topic Redistribution of Wealth - To The Rich
http://www.forbes.com/wealth/forbes-400
12 of the top 100 are hedge fund managers and they are making Billions. I wonder how many they employ overall compared to say, Walmart's owners (#8, 9, & 98 on the list). Many on the list worked hard, built their companies from the ground up, and pay much back to society, that I don't deny.
While I understand that competition is healthy for business, and good for the consumer, the wealthy are not all out to provide jobs. (Larry Ellison, CEO of Oracle and 3rd on the list - acquires companies and axes jobs.) This isn't about "taking down the rich", it's about leveling the playing field so everyone has access to the same opportunities for success/to make their own way.
http://www.alternet.org/environment/149 ... ear?page=4
jf- there has to be checks and balances. Our government is not all-knowing and wise, they should not have unlimited access to everyone's money as the temptation for corruption is too great. But they shouldn't be passing laws that help the rich get richer without working for it, and make it harder for working class to find jobs, and earn a living.
12 of the top 100 are hedge fund managers and they are making Billions. I wonder how many they employ overall compared to say, Walmart's owners (#8, 9, & 98 on the list). Many on the list worked hard, built their companies from the ground up, and pay much back to society, that I don't deny.
While I understand that competition is healthy for business, and good for the consumer, the wealthy are not all out to provide jobs. (Larry Ellison, CEO of Oracle and 3rd on the list - acquires companies and axes jobs.) This isn't about "taking down the rich", it's about leveling the playing field so everyone has access to the same opportunities for success/to make their own way.
http://www.alternet.org/environment/149 ... ear?page=4
jf- there has to be checks and balances. Our government is not all-knowing and wise, they should not have unlimited access to everyone's money as the temptation for corruption is too great. But they shouldn't be passing laws that help the rich get richer without working for it, and make it harder for working class to find jobs, and earn a living.
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
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- archer
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14 Jan 2011 20:11 #18
by archer
jf....no one ever suggested any of that, so why bring it up, sarcastic or not.
Replied by archer on topic Redistribution of Wealth - To The Rich
jf1acai wrote: [sarcasm]You have it all wrong. People should all be employed by the government, people with money should give it to the government, then we have utopia![/sarcasm]
jf....no one ever suggested any of that, so why bring it up, sarcastic or not.
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- LOL
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15 Jan 2011 10:03 #19
by LOL
I agree 100%
Raising rates and socking it to the rich seems to be the trendy thing with Democrats. Lets "stick it to them", and we will all feel better, though it does nothing to the root causes of the distribution of wealth. Besides, the wealthy will just have their accountants sharpen their pencils and get new deductions to offset any rate hikes.
We need more rich people not less. More entrepreneurs, job creators, and revenue generators.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Replied by LOL on topic Redistribution of Wealth - To The Rich
SS109 wrote: You need to look at the world to understand the wealth issue. In the 50's, 60's, & 70's, American industry didn't have a lot of competition. They could afford to pay high wages. Now they can't, the industries that were paying higher wages like GM & Chrysler had to be bailed out.
And education used to be the way to more money, but now the tuition has risen much faster than inflation for over 2 decades and now people are graduating with degrees and winding up as baristas because they aren't going into the right fields.
I agree 100%
Raising rates and socking it to the rich seems to be the trendy thing with Democrats. Lets "stick it to them", and we will all feel better, though it does nothing to the root causes of the distribution of wealth. Besides, the wealthy will just have their accountants sharpen their pencils and get new deductions to offset any rate hikes.
We need more rich people not less. More entrepreneurs, job creators, and revenue generators.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Please Log in or Create an account to join the conversation.
- FredHayek
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15 Jan 2011 10:45 #20
by FredHayek
Thomas Sowell: There are no solutions, just trade-offs.
Replied by FredHayek on topic Redistribution of Wealth - To The Rich
Hedge fund managers making too much money? No one is forcing people to buy into these hedge funds or pay the fees for the hedge fund managers to manage thier money.
The OP can set up her own hedge fund and if it does well enough she too will have people at her front door offering to buy her services.
The liberals like to push the image that most of the wealth in this country is held by people like Paris Hilton but in reality, many of the wealthiest got that way with thier own hard work and employing people to work for them. Bill Gates Microsoft made a lot of money for many people and life much easier for office workers.
But the Left wants to penalize the risk takers and reward those who don't want to get off their couch in the morning.
The OP can set up her own hedge fund and if it does well enough she too will have people at her front door offering to buy her services.
The liberals like to push the image that most of the wealth in this country is held by people like Paris Hilton but in reality, many of the wealthiest got that way with thier own hard work and employing people to work for them. Bill Gates Microsoft made a lot of money for many people and life much easier for office workers.
But the Left wants to penalize the risk takers and reward those who don't want to get off their couch in the morning.
Thomas Sowell: There are no solutions, just trade-offs.
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