The more riff-raff, the harder to keep them out of the gated communities. Wealth inequality often ends suddenly, and often not peacefully. Boss/employee is one thing. Lord/serf is another. The peasants are well-armed; it would be counterproductive for the ruling class to make them desperate.
I must admit to being a tad disappointed in Buffet’s plan to award $1 billion to the person with the perfect NCAA basketball chamionship grid. Imagine what $1 billion could do in Detroit.
The next 9% control 30 percent of the wealth, are they to be destroyed next ? There will always be someone better off and someone worse off than who you see in the mirror.
Agreed. I do not advocate for simple wealth redistribution. I do long for the days when working hard and applying oneself and taking responsibility were rewarded. When that is replaced with “I’m simply lucky to have a job”, there will be frustration and resentment. For all the bobbing and weaving about job-creation, our “representatives” from both parties have seriously failed our society, and continued failure in that regard will likely turn out badly. It is time for our leaders to actually lead.
As an aside, I read in today’s local paper that my local congressman has been quoted as saying that simply voting against Obamacare is not sufficient; that his party needs to offer a better alternative. Signs of waking up, Mr. Van Winkle? I am cautiously optimistic.
“The wealth of the top 1% is $110 trillion. That’s 65 times the wealth of the bottom half of the worlds population.”“Recommendations….-Curbing the power of the rich to influence the political process.”Oxfam Briefing Summary
And the best way those with all that cash can keep it and even get more is to ensure that there is lots and lots of government that is in cahoots with them… Like Obama is…
Detroit’s demise comes down to really three things when you get right to it:.Government: Between regulations, taxes, and a continuing rise in both it made it too expensive for workers and companies to be there.Generous social programs attracted the unproductive that replaced the productive..Unions. The closed shop “I’m going to take managment and the company for everything I can” mentalilty drove off the big companies. When a UAW worker was getting $70+ an hour an benefits on top of that for performing a semi-skilled job that required little education and training something was seriously wrong. The manufacturers moved elsewhere where the cost of labor was more in line with the work performed..Lastly, deteriorating corporate infrasturcture. As factories and office buildings grew old and expensive to keep up it was cheaper just to build new. That just gave companies another incentive to leave.
Inre Janet Yellen’s ascension to chair the Fed; I have full confidence in her integrity and her willingness to do the right thing. However, her efforts will most likely be stymied by Peter Peterson, Goldman Sachs (which has had a seat in the Oval Office since 1980), thousands of obscenely-overcompensated CEOs, huge banks and hordes of speculators who are putting billions of dollars out for dis-information campaigns, and into the campaign coffers of the wealthiest Congress this nation has ever suffered. For the past 34 years, this nation has been sold, piece by piece, to the highest bidders. New legislation would merely be watered down to ineffective levels (as Obama’s was, a few years back). What may really help would be to re-instate the necessary Glass-Steagall Act, and all the other laws & regulations which were passed during the mid- late Thirties, but repealed by the Cheney-Bush administration.
Some banks and other financial institutions are even bigger than before 2008. Speculators drive Wall Street. Executive salaries continue rising into the ionosphere (even for failures!) Bonuses all around. Our Supreme Court has declared corporations to have the same rights as flesh-and-blood citizens, enabling them to lavish unprecendented dollars toward re-election campaigns. All this money gives the most wealthy exceptionally un-equal access to lawmakers. Class warfare? The upper 2% have just about won, and are now just “mopping up”!
Those of us who have labored all our Adult (and Teen) years, paying our taxes, paying into Social Security, FICA, enlisting in the Military, fighting in distant lands to defend US interests, sacrificing health, life and other opportunities, working to support ourselves: We have been abandoned by the current Congress, and White House. The inner-belt culture in D.C., along with their wealthy sponsors, have developed an utter contempt for us.
Janet; Good Luck and Godspeed. I really do wish that, somehow, you will prevail
I Play One On TV over 10 years ago
The more riff-raff, the harder to keep them out of the gated communities. Wealth inequality often ends suddenly, and often not peacefully. Boss/employee is one thing. Lord/serf is another. The peasants are well-armed; it would be counterproductive for the ruling class to make them desperate.
Crabbyrino Premium Member over 10 years ago
I must admit to being a tad disappointed in Buffet’s plan to award $1 billion to the person with the perfect NCAA basketball chamionship grid. Imagine what $1 billion could do in Detroit.
WestNYC Premium Member over 10 years ago
The next 9% control 30 percent of the wealth, are they to be destroyed next ? There will always be someone better off and someone worse off than who you see in the mirror.
I Play One On TV over 10 years ago
Agreed. I do not advocate for simple wealth redistribution. I do long for the days when working hard and applying oneself and taking responsibility were rewarded. When that is replaced with “I’m simply lucky to have a job”, there will be frustration and resentment. For all the bobbing and weaving about job-creation, our “representatives” from both parties have seriously failed our society, and continued failure in that regard will likely turn out badly. It is time for our leaders to actually lead.
As an aside, I read in today’s local paper that my local congressman has been quoted as saying that simply voting against Obamacare is not sufficient; that his party needs to offer a better alternative. Signs of waking up, Mr. Van Winkle? I am cautiously optimistic.
ARodney over 10 years ago
It’s not that the top 1% own 46% of the earth’s wealth. It’s the top 87 PEOPLE. That’s much, much smaller than 1%, and it’s completely inexcusable.
Godfreydaniel over 10 years ago
Wealth addiction is a terrible affliction, leads both to apathy and sociopathy……….
feverjr Premium Member about 10 years ago
“The wealth of the top 1% is $110 trillion. That’s 65 times the wealth of the bottom half of the worlds population.”“Recommendations….-Curbing the power of the rich to influence the political process.”Oxfam Briefing Summary
Enoki about 10 years ago
And the best way those with all that cash can keep it and even get more is to ensure that there is lots and lots of government that is in cahoots with them… Like Obama is…
Enoki about 10 years ago
Detroit’s demise comes down to really three things when you get right to it:.Government: Between regulations, taxes, and a continuing rise in both it made it too expensive for workers and companies to be there.Generous social programs attracted the unproductive that replaced the productive..Unions. The closed shop “I’m going to take managment and the company for everything I can” mentalilty drove off the big companies. When a UAW worker was getting $70+ an hour an benefits on top of that for performing a semi-skilled job that required little education and training something was seriously wrong. The manufacturers moved elsewhere where the cost of labor was more in line with the work performed..Lastly, deteriorating corporate infrasturcture. As factories and office buildings grew old and expensive to keep up it was cheaper just to build new. That just gave companies another incentive to leave.
moosemin about 10 years ago
Inre Janet Yellen’s ascension to chair the Fed; I have full confidence in her integrity and her willingness to do the right thing. However, her efforts will most likely be stymied by Peter Peterson, Goldman Sachs (which has had a seat in the Oval Office since 1980), thousands of obscenely-overcompensated CEOs, huge banks and hordes of speculators who are putting billions of dollars out for dis-information campaigns, and into the campaign coffers of the wealthiest Congress this nation has ever suffered. For the past 34 years, this nation has been sold, piece by piece, to the highest bidders. New legislation would merely be watered down to ineffective levels (as Obama’s was, a few years back). What may really help would be to re-instate the necessary Glass-Steagall Act, and all the other laws & regulations which were passed during the mid- late Thirties, but repealed by the Cheney-Bush administration.
Some banks and other financial institutions are even bigger than before 2008. Speculators drive Wall Street. Executive salaries continue rising into the ionosphere (even for failures!) Bonuses all around. Our Supreme Court has declared corporations to have the same rights as flesh-and-blood citizens, enabling them to lavish unprecendented dollars toward re-election campaigns. All this money gives the most wealthy exceptionally un-equal access to lawmakers. Class warfare? The upper 2% have just about won, and are now just “mopping up”!
Those of us who have labored all our Adult (and Teen) years, paying our taxes, paying into Social Security, FICA, enlisting in the Military, fighting in distant lands to defend US interests, sacrificing health, life and other opportunities, working to support ourselves: We have been abandoned by the current Congress, and White House. The inner-belt culture in D.C., along with their wealthy sponsors, have developed an utter contempt for us.
Janet; Good Luck and Godspeed. I really do wish that, somehow, you will prevail