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Those investments provide the capital that either starts or expands businesses, which provides more jobs. Try doing that without investors.
Money doesn't trickle down. I understand how investment works, and how necessary it is. I also understand that the wage gap between CEO & average worker is insane. The rich are feeding each other, and the rest of us are so desperate for crumbs, that we further the whole set-up in order to get more crumbs.
Frankly government regulations are the root cause. Get the government out of life and we will flourish.
For example, why can I start my own bank? People who trust me can deposit their money with me and I in return give them interest. Except the amount of government regulations for operating a bank is so burdensome that only the rich can afford.
That too. If a bank wants to give a high risk loan, let them. But when they go upside down, uncle sam shouldn't bail them out.
I also understand that the wage gap between CEO & average worker is insane. The rich are feeding each other, and the rest of us are so desperate for crumbs, that we further the whole set-up in order to get more crumbs.
That too. If a bank wants to give a high risk loan, let them. But when they go upside down, uncle sam shouldn't bail them out.
THAT, EXACTLY, should have happened with Fannie and Freddie.
From HUD Secretary Andrew Cuomo's press release, Clinton Admin:
Quote:
"Housing and Urban Development Secretary Andrew Cuomo today announced a policy to require the nation's two largest housing finance companies [Fannie and Freddie] to buy $2.4 trillion in mortgages over the next 10 years to provide affordable housing for about 28.1 million low- and moderate-income families."
Lo and behold, when those loans started defaulting en masse, The Federal Reserve had to create $2 trillion out of thin air to bail out Fannie and Freddie, as even though they were hemorrhaging money, because they were US Government-sponsored enterprises, they still owed the investors who held their MBS.
How do we know that happened?
There were no F&F MBS on the Federal Reserve's H.4.1 in 2008:
Money doesn't trickle down. I understand how investment works, and how necessary it is. I also understand that the wage gap between CEO & average worker is insane. The rich are feeding each other, and the rest of us are so desperate for crumbs, that we further the whole set-up in order to get more crumbs.
What is it that you think you deserve and what value do you provide to warrant it?
You seem to live inside a fantasy, where everyone is equally intelligent and motivated... the only differentiator being their upbringing.
In this world, there are smart people, dumb people, lazy people and hard working people. Guess which ones get ahead in life?
And there is NO county that has more rags to riches stories than America.
Agree.
But it seems the rich are getting richer, a lot richer.....sometimes at the expense of everyone else.
Sports stars, movie stars, TV stars ...always made much more than the average person...
but these days it is getting a little crazy....
Kelly Ripa, for example, I don’t want to pick on Kelly ...but she’s a good example,
she earns $20 million a year to co-host an hour long talk show...she’s entertaining,
and should be paid well....like $2 million a year...still a lot of money but not ten times that,
that she making now. I was also flabbergasted buy Matt Lauer’s giant $25 million a year
salary from NBC....when they fire him thet saved a ton of money, more than enough
to give Roker, Hoda, and the gang all a big raise.
There was a time, not that many years ago, when a sports star would sign a $1 million contract
and that was a big deal, nowadays even a “bench warmer” makes close to million.
These stars make more money other people make in ten lifetimes, same with big company CEOs,
it’s gotten out out of hand. And we the little people pay for it buying tickets, products advertised, etc...
I’m not saying people with extradordinary talent shouldn’t big well compensated,
certainly they deserve more but it is getting a bit too extreme.
Whose fault that is when someone is born into a lousy family? The parents, the society or the taxpayers? ... Poverty in America, there’s no real poverty in america, is a cultural thing. People who value frugality and education particularly in STEM and finance rise up to the top; those value sports, gangster/celebrity lifestyle, and ignoring education mostly remain poor.
We're using the term poverty the same way, not as absolute income (or maybe being "poor") but as cultural poverty, which absolutely exists. That poverty exists really is not a matter of "fault." The issue is that it exists. The question is whether we think it dysfunctional for the overall society. How much is it worth to you personally to close certain gaps? This question could be answered purely as a matter of self-interest, i.e., reductions in crime, drug-use, improved work force performance.
Earlier, I blurred possible distinctions between poverty and a lack of income. The former is more pervasive; the latter more easily addressed. That was careless writing. The differences lead to policy implications.
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