The richest 1 percent have more financial wealth than the bottom 95 percent combined

Gl3nn

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really? so you think the CEO of United Health Care truly "earns" $57,000 per hour while the average annual income of Americans hovers near $40,000 per year?

And he does this in part by denying coverage for clients who pay health insurance premiums just to enhance the company's bottom line so Wall Street is happy and investors, who do NOT work hard, get better returns on their investment.

.


If you would get the chance and earned that much, and if keeping the job means indeed being a bit unethical...you would too. Anybody would.
 

B_VinylBoy

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If you would get the chance and earned that much, and if keeping the job means indeed being a bit unethical...you would too. Anybody would.

Forgive me for saying this, but that's a completely disingenuous argument.

I've been in a situation where I have made more than double than I'm currently making in one year. It was the first time that I actually had to pay additional taxes on top of what I've already paid from every paycheck. Was I a bit surprised? Yes... did I want to pay the taxes, of course not. However, would I want to get back to this financial level? Absolutely. Within that entire year, I was able to take care of all of my weekly & monthly financial obligations with no stress or struggle, plus save a lot of money in the process. If that means that I have to pay a little bit more at the end of the year in taxes to have that sense of security and financial freedom, then bring it on. It's a small price to pay for having that stressful burden out of your mind.

At the end of the day, it's about how you budget your money. Many people who claim to have wealth are the first ones to gripe about how they need more. Who suggested to them that they needed to spend money in excess to live up to some visual image that nobody really cares about? Did they really need to get that big house? All those cars? Go on vacations every season? It's not an issue as to whether they could afford it... it's about making proper adjustments to their own lifestyle and economic status so that they can do all of these things and still pay their taxes like they're supposed to.

Rich people asking the government to give them a tax cut is just like the poor requesting for Welfare... it's a HANDOUT. Both sides are essentially asking our administration to "help us". BOTH sides are looking to "redistribute the wealth" in a way that benefits themselves. However, since people with money are usually the objects of envy they have a good way of glamorizing their own problems as ones being bigger in nature.

Too many times I see people equating those who have a lot of money with working hard and success. There are millions of people out there now who have multiple jobs and struggle to make their ends meet. Meanwhile, the ninth wealthiest person in America is someone who was born into it. His daddy did all the work. He didn't have to lift a finger, yet he along with many others in the 1% are the ones telling US that we need to get our finances straight. Really? :rolleyes:

Here's some more figures to chew on.
In 2008, the net worth of the 400 wealthiest Americans for 2008 was $1.57 trillion. That equals the combined total GDP of Chile, Venezuela, Egypt, AND Saudi Arabia, or 12% of the GDP of the United States. The net worth of the 20 wealthiest Americans for 2008 was $434.1 billion. Their funds alone can buy out Egypt... yet they're worried about their tax dollars being used to pay for Health Care Reform? Grant it, everyone experienced some kind of loss over the recession, but this year the top 20 could still combine their net worth to purchase Belgium.

The real question is not about whether you want to keep your money... It's about GREED and whether or not your need to make money impedes on the social liberties of the people below you. The only ones who are unethical in this case are the ones who can buy countries and act as if they still need help maintaining their wealth. Not the ones who need help paying their medical bills.
 
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Drifterwood

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To go back to Jason's point about a stable middle class (where the tax really come from), it is easy to forget that many middle class jobs have been exported along with Globalisation. Global companies have made more money because their costs across the board are cheaper overseas.

The problem is that government now needs more from fewer. It doesn't make for good math.
 

B_Nick8

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D_Sir Fitzwilly Wankheimer III

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Professional athletes and celebrities aren't exactly pushing laissez-faire economics while simultaneously shipping jobs to Mexico and China.

where do you think those air jordans were made? or hanes for that matter. if you wanted to do the research the list would go on for ever.

they preach one thing then turn around and peddle products made by kids who earn 30 cents a day.
 

JamieBoy

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"...they preach one thing then turn around and peddle products made by kids who earn 30 cents a day..." BIG E

That's why today's headine is: Obama under fire for 'shunning' Dalai Lama

Nothwithstanding his protestations - Barry proves he isn't good enough to lick Abe's boots!

Guess some arn't anything more than a telepromt(er).
 
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To go back to Jason's point about a stable middle class (where the tax really come from), it is easy to forget that many middle class jobs have been exported along with Globalisation. Global companies have made more money because their costs across the board are cheaper overseas.

The problem is that government now needs more from fewer. It doesn't make for good math.

I don't think it made a dent in the discussion. That or people feel bad about contradicting me. Damnit.
 
D

deleted15807

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where do you think those air jordans were made? or hanes for that matter. if you wanted to do the research the list would go on for ever.

they preach one thing then turn around and peddle products made by kids who earn 30 cents a day.

Do I need to say it again? Professional athletes and celebrities aren't exactly pushing laissez-faire economics while simultaneously shipping jobs to Mexico and China.

They aren't pushing for 'free trade' zones and 'open boarders'. It is business that is doing that. It is business that is pushing for 'regulatory relief' which is just another way of saying 'why won't you let us screw the public'?
 

Drifterwood

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God knows they have it coming. :biggrin1:

I did wonder whether I would get more empathy if I had said that I had been being fucked by a Republican. It's probably true but I have an eye for false sexual politics in these things. :wink: Actually, no, if you have someone bent over, hog tied and you are splitting their asshole, you probably have the upper hand. :eek:
 

D_Tully Tunnelrat

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well, while undoubtedly the international footballers earn quite a pretty penny, Like Ronaldo, Messi etc...but they do not even compare to the highest earning basketball/baseball/football guys...but their wealth is certainly nothing to sneeze at! :biggrin1:

Actually Ronaldo earns more than Lebron. Tiger Woods is now officially the world's first billion dollar athlete. Should we ask the question as to whether he deserves it?

What is troubling, and there is an excellent piece, and op-ed by Whole Foods CEO, and ex-hippie John Mackie, in the WSJ is the rising multiple of CEO pay, which has risen from 35 times worker pay in the 60's to 350 times today. At what point is enough, enough? (BTW, although unrelated, Mackie is not in favor of the public option in health care, and in taking a quick look through the plan offered by WF, I can see much to like.)

What is absent from this discussion of wealth, and I trust, our own "Grand Master" Flash can fill us in on the relevant details is the "missing" income tax from Fortune 500 corporations, as they (and their shareholders) represent much of the US's net worth. As recently as the 50's corporations paid more than 50% of all US taxes. That figure has now fallen, if memory serves me correctly, to below 35%. Certainly this falling corp. income tax figure in concert with rising lobbyist dollars is no coincidence. The selling of American government in it's current form is something none of the founding fathers contemplated, and has contributed to greater undeserved, concentrated wealth than almost any corporate raider.
 

Flashy

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Actually Ronaldo earns more than Lebron. Tiger Woods is now officially the world's first billion dollar athlete. Should we ask the question as to whether he deserves it?

What is troubling, and there is an excellent piece, and op-ed by Whole Foods CEO, and ex-hippie John Mackie, in the WSJ is the rising multiple of CEO pay, which has risen from 35 times worker pay in the 60's to 350 times today. At what point is enough, enough? (BTW, although unrelated, Mackie is not in favor of the public option in health care, and in taking a quick look through the plan offered by WF, I can see much to like.)

What is absent from this discussion of wealth, and I trust, our own "Grand Master" Flash can fill us in on the relevant details is the "missing" income tax from Fortune 500 corporations, as they (and their shareholders) represent much of the US's net worth. As recently as the 50's corporations paid more than 50% of all US taxes. That figure has now fallen, if memory serves me correctly, to below 35%. Certainly this falling corp. income tax figure in concert with rising lobbyist dollars is no coincidence. The selling of American government in it's current form is something none of the founding fathers contemplated, and has contributed to greater undeserved, concentrated wealth than almost any corporate raider.

well, technically speaking, LeBron still earns more than Ronaldo, duc...

unlike here where salaries must be reported, in many other countries if the football club is not public, they do not have to be reported.

last i checked, his salary at Real was about 10.5 million euros a year...($15.4 million)

LeBron's salary this year with Cleveland is less, but that is because his most recent 4 year contract was staggered with 13, and 14.4 in the first two years, so he will be receiving more in the next two years...it was 4 years, 63 million, a shade under 16 million average, which is more than Ronaldo's...

but these players all are earning more than him this year...(though some are similarly staggered...remember, NFL and NBA have salary caps...world soccer does not, so they do not need to fiddle around with the yearly amounts per player to much)

this was 08-09


1) Kevin Garnett (Boston) $24,751,934
2)tie Jason Kidd (Dallas) $21,372,000
2)tie Jermaine O'Neal (Toronto) $21,372,000
4) Kobe Bryant (LA Lakers) $21,262,500
5) Shaquille O'Neal (Phoenix) $21,000,000
6)tie Allen Iverson (Detroit) $20,840,625
6)tie. Stephon Marbury (New York) $20,840,625
8) Tim Duncan (San Antonio) $20,598,704
9) Tracy McGrady (Houston) $20,370,437
10) Ray Allen (Boston) $18,388,430
11) Dirk Nowitzki (Dallas) $18,077,904
12) Paul Pierce (Boston) $18,077,903
13) Shawn Marion (Miami) $17,810,000
14) Rashard Lewis (Orlando) $16,447,871
15) Michael Redd (Milwaukee) $15,780,000

while this year, Lebron makes 15.8 and next year, 17.1


I'd still rather make NBA money...though i would not complain if someone wished to hand me Ronaldo's :biggrin1:


 

D_Tully Tunnelrat

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well, technically speaking, LeBron still earns more than Ronaldo, duc...



Ah, in salary Ronaldo makes less. I was imputing his purchase price as part of his true cost, which just based upon quick calculations, which are often incorrect, had him as more expensive than Lebron. I would not sneer at either one's take home pay. It would be interesting to see what their total earnings are when you factor in endorsements...

I thought it was worth noting that Tiger is the all time no. 1 sports earner. Whereas I think Saragon said that sports figures don't hire 3rd world workers at substandard wages, they do make money off them through their endorsements through the likes of Nike.

Flash, f you would speak to the issue of the decline of the corporate tax rolls in the US, I would think that would be a great contribution to this thread, and is certainly relevant.