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Oh not because of who they know? Not because they had money to go to yale and make connections? Not because dad has a hook up? Becoming a ceo of a bank with a degree from a small liberal arts school is not an everyday event.
You are also ignoring people who are the best at what they do but still not affluent.
You sound like every other middle class person who is envious of those with money.
Becoming CEO is NOT an every day event, but then again, being the best at what you do is not something everyone can do. Unfortunately, the majority of us will never be better than 'good enough' at our job. Not everyone is the superstar employee who will go on to earn the right to be CEO/CIO/CFO, etc.
You can delude yourself into thinking they don't deserve it, but in a capitalist economy (which we have) if you or I were better at their jobs than they are, you or I would be the CEO.
I am just trying to be realistic. I won't make excuses for my own mediocraty...
Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million. His receptionist was taxed at about 30 percent.
"Buffett cited himself, the third-richest person in the world, as an example. Last year, Buffett said, he was taxed at 17.7 percent on his taxable income of more than $46 million."
That sounds about right given the data from the CBO:
http://www.cbo.gov/publications/collections/tax/2009/effective_rates.pdf (broken link)
"His receptionist was taxed at about 30 percent."
Something is wrong there. Neither the CBO nor the IRS report any group having an effective income tax rate of more than 22.45%.
http://www.cbo.gov/publications/collections/tax/2009/effective_rates.pdf (broken link)
Table 1 here: The Tax Foundation - Summary of Latest Federal Individual Income Tax Data
You seem to be saying that if companies -- as many of you would have it, "rich people" -- paid their employees better, they wouldnt be such a tax burden on the rest of us.
That is correct.
But if I paid my employees better, I'd have to have fewer employees, right?
I only have a finite amount to spend on labor costs. So do I hire 5 people at $40,000 each, or 4 people at $50,000?
If I hire 4 at the higher amount, didn't I just contribute to the national unemployment?
You sound like every other middle class person who is envious of those with money.
Becoming CEO is NOT an every day event, but then again, being the best at what you do is not something everyone can do. Unfortunately, the majority of us will never be better than 'good enough' at our job. Not everyone is the superstar employee who will go on to earn the right to be CEO/CIO/CFO, etc.
You can delude yourself into thinking they don't deserve it, but in a capitalist economy (which we have) if you or I were better at their jobs than they are, you or I would be the CEO.
I am just trying to be realistic. I won't make excuses for my own mediocraty...
Give a freaking break with the lame class envy BS.... That is not the issue. People don't dislike rich people, they dislike people who treat others like crap and only look out for themselves. It is not envy its morals. If you make 5 million a year how do sleep at night knowing the 20 people you fired just lost their home? Not all people are like that but the ones who are like that are the hated ones. I am not envious at all. I have way more than what I need in life. If I hit the powerball tomorrow (if i played) I would give 95% of it away.
You miss the point becasuse you associate wealth with success.
and we should protect those only interested in helping themselves why?
Because they don't only help themselves. They employ others and pay a grossly disproportionate amount of the income tax revenue. Look at what happens when their bottom line is negatively impacted:
Quote:
"Other figures in an Associated Press analysis underscore the recession's impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent."
Meanwhile, look at what's going on with the Social Security and Medicare taxes everyone pays:
Quote:
"Social Security tax receipts are down less than a percentage point from last year, but in May the government had been projecting a slight increase. ...Medicare tax receipts are also down less than a percentage point for the year"
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