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Bill gates is a multi billionaire...huge difference. A million dollars in assets is not anywhere in the league with top .01 of the top 1 percent.
At a million dollars in assets nobody cares about your taxes. When you start making a million a year....then that is when we start care about you paying taxes. I don't think you have any concept of the income disparity. Please take a look at the chart in the OP.
A million dollars in assets is a drop in the bucket.
Yes, there are millions of American Millionaires. The gap between working class millionaires who have save for retirement and the true wealthy is huge.
This is largely GOP piffle. What has happened in the last 50 years is capitalism has been doing what it is supposed to do. That is concentrate capital in fewer hands and doing things with the least capital and effort. This is called economic optimization and the American Business Machine is a job destroying one.
Hmmm... And exactly WHO owns the American Business Machine and is making demands for more efficiency and more profits at the expense of jobs and workers' incomes?
"This shift of business ownership from rich people to working people may be the greatest economic transformation since the Industrial Revolution. ...So what does all this mean? Well, for starters, it should lead to an end of complaints about the profits of corporations and allegations about 'greedy corporations.' After all, much of that profit now goes toward the current and future retirement incomes of working people. ...working people have bought enough stocks and shares to become bosses of the bosses. And some pension funds have begun making that clear. CalPERS, the California Public Employees' Retirement System, has led the way in telling Chief Executive Officers (CEOs) and boards of directors that they'd better manage effectively or else. And, CEOs and directors listen; after all CalPERS runs the country's biggest pension fund" Business Ownership & Labor Day
Read the entire article, and open your eyes.
Everyone who contributes to or benefits from a 401k, pension fund, mutual fund, annuity, or whole life insurance policy, etc., owns the American Business Machine, en masse. They, not capitalism, are the guilty parties.
Hmmm... And exactly WHO owns the American Business Machine and is making demands for more efficiency and more profits at the expense of jobs and workers' incomes?
"This shift of business ownership from rich people to working people may be the greatest economic transformation since the Industrial Revolution. ...So what does all this mean? Well, for starters, it should lead to an end of complaints about the profits of corporations and allegations about 'greedy corporations.' After all, much of that profit now goes toward the current and future retirement incomes of working people. ...working people have bought enough stocks and shares to become bosses of the bosses. And some pension funds have begun making that clear. CalPERS, the California Public Employees' Retirement System, has led the way in telling Chief Executive Officers (CEOs) and boards of directors that they'd better manage effectively or else. And, CEOs and directors listen; after all CalPERS runs the country's biggest pension fund" Business Ownership & Labor Day
Read the entire article, and open your eyes.
Everyone who contributes to or benefits from a 401k, pension fund, mutual fund, annuity, or whole life insurance policy, etc., owns the American Business Machine, en masse. They, not capitalism, are the guilty parties.
Yes! This is why I smile every time Exxon, IBM, EDS, CSC, etc announce record setting profits. The only evil profits are small ones.
Not since before the great depression have we had such inequality in wealth distribution. There is a correlation between the disparity and taxes. The lower the taxes the higher the disparity. The greater the taxes the less the disparity and the larger the middle class. Anyone who tells you that taxes on the rich kills the middle class just needs to look at the charts.
I wonder if badly written laws and harmful regulations and disastrous deregulation, created by and managed by the federal government, could have anything to do with this.
The answer is yes, incompetent, corrupt, greedy, power hungry, government politicians and bureaucrats are definitely mostly responsible, and sadly, too many fools want to give more power and control to government as the solution to bad government.
What has company ownership to do with income disparity between the very wealthy and the middle class. Please connect the dots.
Dots connected:
Why are jobs outsourced and workers' salaries low? Why are executive salaries so high? Company ownership tells the Board of Directors what they want, and demands efficiency and lowered costs. WHO is the company ownership? See my post, above: http://www.city-data.com/forum/polit...l#post19895536
Hint: Union ownership of companies via stock holdings are a big part of the problem. Unions have greedy demands for exorbitant pensions. Those pensions must be funded. This is how they do it.
The great American myth is prosperity for the few is prosperity for the many. Dividends dispersed in a pension fund are not the same as dividends in a big investor's pocket. Given the reduction in wealth earned by the working and middle class has prevented almost all individuals from saving enough income producing capital to be able to actually stop working after retirement.
IF you consider an income of $3,000 per month to be an adequate retirement how much money needs to be saved by that individual over a 40 year lifetime at the 50th percentile income. Would someone please provide some numbers.
Why are jobs outsourced and workers' salaries low? Why are executive salaries so high? Company ownership tells the Board of Directors what they want, and demands efficiency and lowered costs. WHO is the company ownership? See my post, above: http://www.city-data.com/forum/polit...l#post19895536
Hint: Union ownership of companies via stock holdings are a big part of the problem. Unions have greedy demands for exorbitant pensions. Those pensions must be funded. This is how they do it.
You do understand that in a true pension plan that the employee has no say in which companay that the pension trustees invest in don't you. The pension plan is the true owners and not the employees. They are only beneficiaries of the plan.
In a 401K plan, there are more options, but again they are invested in investment firms that the company picks, very seldom do the individual employees get a vote on board of directors.
The fact is only the large single investors have any real control over the companies. You can find case after case of the pension plans losing big money and the individual investors making a killing just based on timing of transactions. It is not an even playing field and that is why the wealthy continue to get wealthy.
The great American myth is prosperity for the few is prosperity for the many. Dividends dispersed in a pension fund are not the same as dividends in a big investor's pocket.
Huh? CalPERS (California Public Employees' Retirement System) is the biggest US investor.
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