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Old 05-29-2012, 04:52 AM
 
4,428 posts, read 4,287,080 times
Reputation: 1356

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The Vanishing Consumption Gap


"There simply isn’t much stuff left that is so expensive that rich people can buy it but poor people can’t."

"Look at what “poor” people have. Refrigerators. Cars. Televisions. Cell phones. Computers."

Income inequality is not the problem. Attitude is.

People who earn less than Wall Street CEO's still have plenty to be thankful for.

"The goods consumption of all Americans above homeless drug addicts on the SES scale is so high as to make “poverty” a term that cannot meaningfully be applied in the U.S. Not if you’ve lived in places where they have the real thing."

So what are these occupiers (Democrats) complaining about?

Even Obama is a misguided wealth redistributionist.
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Old 05-29-2012, 05:01 AM
 
Location: State of Transition
95,952 posts, read 93,596,728 times
Reputation: 105986
Oh yes, this is great. As long as everyone has a fridge and a TV, it's ok to pay CEO's obscene amounts of money while paying workers less, and cutting back on their benefits, and cutting back on the number of employees. But how are people going to get to work if they can't afford a car and gas and car insurance? Public transportation needs to be improved but to do that, taxes need to be increased on you-know-who. This says nothing of the people who work for businesses like Wal-Mart that provide inadequate health insurance, and cannot guarantee employees a 40-hr. workweek. Nor does it say anything about the families who have been made homeless due to job layoffs and the mortgage implosion.

Who said poor people have computers? The poor go to the public library to use computers.

Keep digging up justifications for abandoning your responsibility to the nation. Nice hobby. You're providing us with a real-life experience of what it must have been like during FDR's presidency, when accusations of "socialism" were daily fare.
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Old 05-29-2012, 05:08 AM
 
Location: Bronx, New York
2,136 posts, read 2,899,398 times
Reputation: 3205
I worked a temp job for one of the CEO's of a fortune 500 bank for a few month's. I saw the books so I know this is crap. Everyone should have an experience like mine. It lasted 4 months but it was an eye opener.
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Old 05-29-2012, 05:09 AM
 
4,428 posts, read 4,287,080 times
Reputation: 1356
Quote:
Originally Posted by Ruth4Truth View Post
Oh yes, this is great. As long as everyone has a fridge and a TV, it's ok to pay CEO's obscene amounts of money while paying workers less, and cutting back on their benefits, and cutting back on the number of employees. But how are people going to get to work if they can't afford a car and gas and car insurance? Public transportation needs to be improved but to do that, taxes need to be increased on you-know-who. This says nothing of the people who work for businesses like Wal-Mart that provide inadequate health insurance, and cannot guarantee employees a 40-hr. workweek. Nor does it say anything about the families who have been made homeless due to job layoffs and the mortgage implosion.

Who said poor people have computers? The poor go to the public library to use computers.

Keep digging up justifications for abandoning your responsibility to the nation. Nice hobby. You're providing us with a real-life experience of what it must have been like during FDR's presidency, when accusations of "socialism" were daily fare.

First: You're wrong.

Second: What are you Democrats going to do? Mandate by law how much a company can pay it's executives?

Third: FDR's policies lengthened the Great Depression.
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Old 05-29-2012, 05:11 AM
 
4,428 posts, read 4,287,080 times
Reputation: 1356
Quote:
Originally Posted by Jasper03 View Post
I worked a temp job for one of the CEO's of a fortune 500 bank for a few month's. I saw the books so I know this is crap. Everyone should have an experience like mine. It lasted 4 months but it was an eye opener.
What did you see in those books?
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Old 05-29-2012, 05:19 AM
 
Location: Bronx, New York
2,136 posts, read 2,899,398 times
Reputation: 3205
Quote:
Originally Posted by Yooperkat View Post
What did you see in those books?
More than I care to say on CD. Trust me politics had very little to do with these amoral people. Political leanings are a tool for them. The republican Ceo's office was right next door to the democrat chairman recruited straight from D.C to lobby on behalf of the company. They kept both ends covered and they got along just fine. At the end of the day it was about the money they were making not any belief system.
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Old 05-29-2012, 05:25 AM
 
Location: MS
4,396 posts, read 4,628,137 times
Reputation: 1556
Quote:
Originally Posted by Ruth4Truth View Post
Oh yes, this is great. As long as everyone has a fridge and a TV, it's ok to pay CEO's obscene amounts of money while paying workers less, and cutting back on their benefits, and cutting back on the number of employees. But how are people going to get to work if they can't afford a car and gas and car insurance? Public transportation needs to be improved but to do that, taxes need to be increased on you-know-who. This says nothing of the people who work for businesses like Wal-Mart that provide inadequate health insurance, and cannot guarantee employees a 40-hr. workweek.
Cut the CEO's paycheck in half and that will give each employee about a 10 cent raise per month.

A company's primary goal is to make a profit and return on investment for their shareholders. Employing 1, 10 or a million people is a byproduct of this quest for profit. If Target thinks they can poach the best checkers from Wal-Mart then they will offer enticements to get them to change. But in this economy, there are more workers than jobs. It's simple economics.

Quote:
Originally Posted by Ruth4Truth View Post
Nor does it say anything about the families who have been made homeless due to job layoffs and the mortgage implosion.
Maybe the federal government should not have forced banks to give loans to people who couldn't pay them back? Better yet, maybe the buyers should not have purchased houses they could not afford?
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Old 05-29-2012, 05:33 AM
 
26,666 posts, read 27,415,105 times
Reputation: 7935
Thank you for posting that. I used to be more concerned about the poor, but I'm not as concerned today. Articles like the one you posted remind me of how well-off we all are.
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Old 05-29-2012, 05:35 AM
 
4,428 posts, read 4,287,080 times
Reputation: 1356
Quote:
Originally Posted by Jasper03 View Post
More than I care to say on CD. Trust me politics had very little to do with these amoral people. Political leanings are a tool for them. The republican Ceo's office was right next door to the democrat chairman recruited straight from D.C to lobby on behalf of the company. They kept both ends covered and they got along just fine. At the end of the day it was about the money they were making not any belief system.

So What?
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Old 05-29-2012, 05:37 AM
 
Location: State of Transition
95,952 posts, read 93,596,728 times
Reputation: 105986
Quote:
Originally Posted by Yooperkat View Post
First: You're wrong.

Second: What are you Democrats going to do? Mandate by law how much a company can pay it's executives?

Third: FDR's policies lengthened the Great Depression.
I'm wrong about what? That Wal-Mart doesn't guarantee a 40-hr week and employee benefits are inadequate? I'm wrong about the poor using computers at the public library? I'm wrong that people have been made homeless due to the economic downturn? Just what exactly are you referring to? "You're wrong" is a pretty vague statement.

The solution to runaway executive pay is to restore a tax system that taxes by over 50% the higher income brackets. That would stop runaway exec pay in its tracks. Before tax cuts for the rich began, executive pay was much more modest, and yet still quite enough to live comfortably.
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