I have no problem with some people being wealthy, per se. However, the more wealthy one has, the more direct access one has to our legislators. Since 1981, de-regulation of our financial system began in earnest, and continued right up through the 2000’s. It has been admitted that no one fully understands the all the international connections of these investments. And, many of these investments are of dubious origin. Worthless derivative packages were fobbed off to some investors, while others were favored by top Wall Street financial houses (Goldman Sachs). Our country, our society, functioned best under a system of regulated capitalism, which sought to prevent any special-interest groups from running away with it all. Most, if not all of these regulations have been repealed, leaving us with a “system” of almost unrestrained capitalism. DaSharkie, before expected layoffs claimed me in 2002, I had started my own retail store, part-time, in 2000. Once laid off, I worked 50 or more hours per week, 60-70 during the approach of Christmas. The business grew. Until the Autumn of 2008. The un-regulated structure went off the road, hit a tree and devastated my cutomer base. I subsidized the store with my own money until 2011, when I finally accepted the fact that the economy as I knew it, just wasn’t coming back. (During that period, it didn’t help ANY business that the governor of Massachusetts decided to raise the sales tax!). The excesses of of Wall Street ventures cost hundreds of thousands of people their livelyhood. Many others, who once had good jobs at $40-60K, are now working for less than half their former salaries. Millions of Americans do not possess disposable income anymore, which used to support many businesses. Now, they HAVE to shop Wal-Mart!
The best thing our elected legislators can do for us would be to re-instate all the laws and regulations which were enacted during the 1930’s, including the necessary Glass-Steagall Act, and restore some order into our financial system.Lastly, DaSharkie: Do you like to read? May I suggest two books which would give you, (or anyone else) things to think about.DEBTOR’S PRISON: The Politics of Austerity versus Possibility. by Robert Kuttner.AFTERSHOCK: The Next Economy & America’s Future. by Robert Reich.
If we want to complain about income inequality we need look no further than what we are paying our elected public servants in Washington. Those on the hill average $173000/ year while the average American salary is $35000, down from $40000 just a few years ago. We also give them pension and benefits that the rest of have no chance of seeing.If anyone really wants to know what they’re talking about when it comes to the rich read “The Millionaire Next Door”, a well researched book that dispels a lot of myths about the wealthy.
moosemin about 10 years ago
I have no problem with some people being wealthy, per se. However, the more wealthy one has, the more direct access one has to our legislators. Since 1981, de-regulation of our financial system began in earnest, and continued right up through the 2000’s. It has been admitted that no one fully understands the all the international connections of these investments. And, many of these investments are of dubious origin. Worthless derivative packages were fobbed off to some investors, while others were favored by top Wall Street financial houses (Goldman Sachs). Our country, our society, functioned best under a system of regulated capitalism, which sought to prevent any special-interest groups from running away with it all. Most, if not all of these regulations have been repealed, leaving us with a “system” of almost unrestrained capitalism. DaSharkie, before expected layoffs claimed me in 2002, I had started my own retail store, part-time, in 2000. Once laid off, I worked 50 or more hours per week, 60-70 during the approach of Christmas. The business grew. Until the Autumn of 2008. The un-regulated structure went off the road, hit a tree and devastated my cutomer base. I subsidized the store with my own money until 2011, when I finally accepted the fact that the economy as I knew it, just wasn’t coming back. (During that period, it didn’t help ANY business that the governor of Massachusetts decided to raise the sales tax!). The excesses of of Wall Street ventures cost hundreds of thousands of people their livelyhood. Many others, who once had good jobs at $40-60K, are now working for less than half their former salaries. Millions of Americans do not possess disposable income anymore, which used to support many businesses. Now, they HAVE to shop Wal-Mart!
The best thing our elected legislators can do for us would be to re-instate all the laws and regulations which were enacted during the 1930’s, including the necessary Glass-Steagall Act, and restore some order into our financial system.Lastly, DaSharkie: Do you like to read? May I suggest two books which would give you, (or anyone else) things to think about.DEBTOR’S PRISON: The Politics of Austerity versus Possibility. by Robert Kuttner.AFTERSHOCK: The Next Economy & America’s Future. by Robert Reich.
Brutatowski about 10 years ago
If we want to complain about income inequality we need look no further than what we are paying our elected public servants in Washington. Those on the hill average $173000/ year while the average American salary is $35000, down from $40000 just a few years ago. We also give them pension and benefits that the rest of have no chance of seeing.If anyone really wants to know what they’re talking about when it comes to the rich read “The Millionaire Next Door”, a well researched book that dispels a lot of myths about the wealthy.