The reason the rich are becoming richer is because the poor are HANDING them money

[PedroMartinez]

Originally Posted by Elliott_CA

PRODUCING wealth? You mean actually making widgets and selling them? That's so 1965.

As Bill Moyers said on CNBC today, "Rent seeking is the new national pastime." Rent seeking behavior is trying to capture wealth in a non-economic way by lobbying government to change the rules in your behavior. Bill's right, there's LOTS of rent seeking going on.

This is exactly what's been going on in "the swamp" as lobbyists pour huge sums of money into Congress to get what the want, like the recent tax cuts that are designed to enrich the already rich. The wealthy are getting lazy, instead of making money the old fashioned way they find it's a lot easier to lobby Congress to borrow $2 Trillion and just hand it over to them.

So, a person going from paying $1.4 million in Federal income taxes to $1.1 million in Federal income taxes is robbing the rest of us?

[I love boots.]

So, anyone who had help in any way isn't self made? That would make nobody self made, right?.

There is making wealth and there's maintaining it. What about the inherited wealth that disappears after one or two generations for some families and then for others it doesn't. Should no credit be given to people that don't squander it?

[fibonacci]

Originally Posted by lifeexplorer

Only people who haven't passed Econ 101 would say that.

I have a minor in economics as well as an undergraduate degree in mathematics. I took macro/micro 101, intermediate macro/micro, game theory, mathematical econ, econometrics and forecasting, and advanced macro econ theory. Granted it's been over a decade, but I still do remember a lot of econ - stochastic modeling and forecasting, time series and probabilistic formulations of economics relationships such as consumption and production functions, marginal theory, maximization problems, input-output analysis,..... and so on.


The OP's post isn't economics and is nothing more than an unintelligible prating.