Actually, I think it was very hard for him to say so little!
And there are people who come from very modest backgrounds, who work their ass off in school to get a good job, and who slave away at their work to earn their wealth. These people exemplify the values that we, as a society, laud: hard work, determination, and eventual success.
Yet once someone arrives at this point - I'm taking the 99-99.5% bracket of young professional lawyers, doctors, etc... - they immediately become demonized. I don't understand that at all.
The financial sector has been marginalizing other industries for quite some time. Scientists, engineers, lawyers, doctors etc. At the same time they ac ulate the vast majority of wealth.
Wealth is not that limited. Why do you think when others have more, it's a piece of your pie?
You ever worked with financiers on a design project?
Sure it is. Class warfare goes both ways. It's only one side that has enough money to influence politics though.
"Wealth is not that limited. Why do you think when others have more, it's a piece of your pie?"
The correlation perfect between explosion of mgmt compensation and staganation/decline of household income.
St Ronnie started it off by raising SS tax, while cutting capital gains and wealthy income tax, and firing the unionized air traffic controllers after 2 days on strike (let's bust ALL unions, bust their salaries, so mgmt and investors could pocket those salaries), signalling that the VRWC had arrived, weatlhy class' war on lower 95%, war on employees, etc.
Nearly ALL of the pie increases of these last 35 years have gone to the wealthy. No more than ever, America is brutal, predatory project of social/economic Darwinism.
I think they were talking about the top 1%. I don't think 99-99.5% of young professional lawyers, doctors, etc are at that level at all.
And BTW, hedge fund managers probably make much more than any of those professionals putting in half the work. But how much they make isn't the problem (at least I have no problem with it). It's how that money is eventually leveraged to gain an political advantage for the class.
Just talking about the corporate jet owners so frequently sited by Obama.
I'm not.
No, because its the others obviously being an ass.
And he is talking about a class within the subset he is actually talking about increasing tax levels. Its called framing and political PR machines do it and then you regurgitate it.
You have no independent political thought that I have seen.
The thing is that I know what industrial maintenance supervisors in the NW make and you do not make even a third to be included in the group discussed in the OP. You do not have a horse in that particular race yet you so incessantly regurgitate the exact rhetoric they put out. It would be funny if it was not so sad.
You bitter old man. Take it easy
I think it was more of a brief breakdown what the top 1%. That there is a big divide within that 1% as well.
You asked. It is what it is.
Sure it's distasteful. To the majority of Americans though, it represnts the difference between needing to worry abot that next mortgage payment or not. They'll gladly hate away, despite your objections.
Of course you are, you appear to have plenty of dispoable income and no perspective.
Ever think of what the endgame is for the rich if they dont bear a large burden of taxation?
WC supports destructive class warfare from the top to bottom, doesn't even think it's class warfare, but despises class warfare from the from bottom to top, that's unfair, derides any pushback at all.
"Sure there's Class Warfare, and my Class is winning" -- Warren Buffet
Either you don't know what marginalizing means, or you're wrong.
Exactly. But they get lumped into that group because of their profession. That's my point.
Wall Street’s Euthanasia of Industry
What we have now instead is euthanasia of employees, euthanasia of industry and of entire economies to siphon off rent extraction, interest and financial fees to the top of the economy.
The problem is that trying to pay debts rather than writing them down to realistic ability to pay (or writing down mortgages to the market price) and increasing taxes is pushing the U.S. and foreign economies into a depression. And the worst thing is that this is viewed as a solution – supposedly making economies more “compe ive” by “squeezing out the fat.” What it is doing is passing the fat to the top of the economic pyramid, like globules floating on the broth, as Werner Sombart described the rentier class a century ago.
The Obama administration raised the financial sector’s bailout to $13 trillion. This has vastly increased the government debt. And now, Mr. Obama wants to bring it back down by cutting back Social Security, Medicare, Medicaid and other social spending – to transfer wealth and income to the top of the economic pyramid
http://michael-hudson.com/2011/07/th...a-of-industry/
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The financial sector owns and runs the country.
I can only speak for myself. I really have no problem with professionals earning their share. I have a problem with those at the top 1% that pay off to have a bull tax holiday promising to invest it in jobs, then use it to pay themselves, effectively taking a juicy dump all over the rest of us.
You think professional athletes give a about people below them?
Some do some don't. But at least they give back entertainment to us bottom 99%
Nice vague dismissal. I know exactly what it means.
The people that make them in that 1% are the same people that you say don't give back to the bottom 99%.
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