Seattle
Valued Senior Member
Reading quite a few of your threads, your general opinion seems to be that poor people choose to stay that way while the wealthy are harder workers, and plan better. I’m paraphrasing, but that’s the gist.
I've said nothing about the wealthy working harder. Everyone not poor, including the middle class does seem to make better decisions if we are talking about poverty in the U.S. (elsewhere corruption may make better decision making less relevant).
My comments, in this regard though aren't just about the wealthy. It's about everyone other than the terminally poor. It's also not an absolute statement. Of course there a valid reasons why some are poor and can do little about it. For most people, in general, what you personally do has more effect on the rest of your life than anything someone else does, wouldn't you agree?
Seattle, why do you ask us what we think and try to engage us if you know all the answers, already? lol
That's the nature of the forum. Don't most posters think that they have the answer? Aren't you sure that "we" need to be more open-minded about UFO's and don't you post that same point over and over?
It's the nature of the beast if you want conversation. Don't you think Tiassa and James are certain that they are right about what they post? Most posters have a subject matter that they are more interested in and that's where more of their posts occur.
Anyway, I think that taxation is just part of the pie. Predatory capitalism is a problem and that is why you don’t have the same advantage as the investors who were part of insider trading at Bed, Bath and Beyond. Just using that company as one example but I would bet the farm that many (not all) business “leaders” are involved in some form of insider trading so the everyday wage earner doesn’t have the same advantages to gain wealth. You know that you don’t have the same playing field if you were to take up day trading, as say Jeff Bezos. That’s wrong, isn’t it?
Your statement (s) are what are largely wrong, IMO. Your mindset is already revealed when you call it "predatory capitalism". No, I don't think most business leaders are committing the crime of insider trading.
The everyday "wage earner" who owns stock and holds it for 10 years is likely to get the same 10% average return as Bezos, Gates and everyone else. If they don't own anything, they don't get any returns of course.
I don't think Bezos is a day trader. Does he have advantages over me in starting a space exploration company? Sure, but that's neither here nor there.
The biggest misconception, IMO, with conversations talking about "tax the rich" or anything about the rich and "fairness" is that there aren't enough "rich" (.01%) to do all the things that some people think they can do.
When taxes are raised in the sense of taxing the billionaires, the people who actually see their taxes go up are in the top 10% to 20% and not the top .01%.
Also, Bezos, Gates, etc make the majority of their initial money not from insider trading, unfair advantages, loopholes, etc. They start a company and if it's one of the ones that do well, they get their wealth because the stock prices goes up.
It's not because they keep the profits at the expense of the wage earners. That view belies a lack of understanding (it seems) of terminology and basic business principles.
Employees accept a job based on a wage offered. That's not a predatory concept. A worker at Google may make "$"300k programming. If Google can pay all of those salaries and other expenses then the company has a profit. Any CEO that has stock benefits as do all of the millions of other people who own Google stock.
There seems to be a view that it's just the CEO at Google and a few wealthy investors who profit and who, for some reason, don't deserve what they get as much as "wage earners"?
You can buy Google stock. Why would you do so if Google didn't make a profit? If an employee says that they deserve more and that the Google CEO and "wealthy shareholders" should give back some money because a particular employee was laid off or because Covid was tough for them...that makes little sense.
If you own Google stock, is it fair to refer to you as just a wealthy shareholder in a predatory system who doesn't really need the money and it's really all about the "worker"?
That can be a person's opinion but it's clearly subjective and is mainly a Marxist economics viewpoint where the value of everything is just based on "labor" of the "worker". It's an "us" vs "them" mentality inherent in that type of economics.
That's doesn't mean it's "wrong" if there is real world evidence to back it up but that approach hasn't actually turned out that well in reality.
Now, in your case, I understand that you feel that you agree with a capitalist system and just want to prevent abuses but a lot of the terms that you are using are loosely based on Marxist economic concepts about "labor" and "workers".
As far as specific cases where a company breaks the laws, that's neither here nor there since there are plenty of cases of the poor, middle-class and the "rich" breaking laws.
The overwhelming misconception, IMO, that I often see is about shareholders. Their are usually diminished as to what role they play, as if anyone would buy stock with no expectation of returns. Or when returns of a company are sensationalized by reporting profits in absolute terms and when comparing them to something else that is irrelevant such as "Google reports record profits of "$"XXX billion while many poor people can't even buy a house" or "Google profits while the average citizen saw their income go down during Covid" or "The rich became even richer while the average person became poorer during Covid".
This type of reporting isn't intended to be unbiased. You never see "Google reports record profits this year after below average returns in the previous year. Profit per share this year was $1.48 and the overall profit margin was xx% which is average for the industry.
That doesn't rile anyone up because it's reasonable.
The fact of the matter is that anyone who has any investments will do better while those without investments of course don't do better in an economic downturn.
That applies to a billionaire, a millionaire and a "worker" with "$"50k in their 401k.
I'll broaden the conversation even further to say that, IMO, the biggest reason that there is so much division in the country these days is that the nature of the media has changed. It's now 24/7 and that's 24/7 to rile everyone up with sensationalized commentary.
If we just had newspapers and 30 minutes of national news (and I'm not suggesting trying to turn back the hands of time) the nation wouldn't be this divided on every subject, especially subjects where the average person isn't particularly well informed about in the first place.
Now we have someone with no education posting on Sciforums their personal theory of Quantum Physics.
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