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Should we allow the rich to get richer?

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Last response: in Hobbies & Leisure
April 16, 2012 8:06:28 PM

Thats the question today isnt it, at least in one corner of thought.
Should we allow the rich to create a unfair, rediculous gap and expand it even further?

More about : rich richer

April 16, 2012 9:15:39 PM

Scientifically define rich...
April 16, 2012 9:29:06 PM

You mean those who make 644,705 USD every year and pay 20.6% in taxes?
Related resources
April 16, 2012 9:34:13 PM

I report it to be income.
April 25, 2012 12:03:01 AM

Should the rich be allowed to get richer?
If it is done legally and properly then yes. Who are we to say that the uber rich shouldn't be allowed to get richer? Its a free country.
April 25, 2012 2:09:05 AM

You give me a million dollars to start. I'll earn an average 14% return, or $140,000. Or give me $100,000 and I'll earn 14%, or $14,000 a year. Either way, it is an exponential growth in income. The rich will always get richer because they invest more.

Ben Franklin was a fan of Compound Interest for that simple reason. Every 50 years his single month of income pays out to Philadephia and Boston (Boston, I think) X amount. Last time it paid out was like $25 million dollars within the last 10 years.. all because he had invested $2000 sterling pounds 200 years ago or something.

Yeah, those who bet more will gain more. They also will lose more, except the market is on the winning side historically.
April 25, 2012 2:13:12 AM

Thanx for that link
April 25, 2012 2:52:02 AM

JAYDEEJOHN said:
Thats the question today isnt it, at least in one corner of thought.
Should we allow the rich to create a unfair, rediculous gap and expand it even further?
The rich only care about themselves and no one else. They are making money through these bad financial times we are living in.Warren B could care less about the middle class or poor today. he cares if his company is making money and nothing else.
April 25, 2012 6:02:35 AM

Ask a labor worker what he think about said rich. Now, ask a lager executive about what he thinks of the guys who are said rich. Both will tell you the same: They want to be with the rich. Money is like a drug, you constantly want more of it, and you are willing to do anything to get it.

Why do you think people play the lotto? The idea of collecting a 1,000,000% return is amazing!

Being rich is a subjective term describing those who are above a certain percent, weather it be the 99, 50, 20, 10, or 1 percent.

We see others who have great capital, but the capital shows merit to the amount of work they have *hopefully* placed upon themselves.
April 25, 2012 3:18:08 PM

Unless that Labor Worker's boss is making $300k a year.. Oh wait, did I just call out the UAW Union Boss's salary? Oops.. he's not rich.. yet he claims his workers base pay is about $32k a year. Riiiight.
April 25, 2012 3:24:19 PM

I'm like totally conflicted ...

/turns on electic heated back massaging ergochair while pondering this discussion ... texts the maid to bring me another capo and a croissant ... with strawberry jam.
April 25, 2012 3:25:18 PM

riser said:
Unless that Labor Worker's boss is making $300k a year.. Oh wait, did I just call out the UAW Union Boss's salary? Oops.. he's not rich.. yet he claims his workers base pay is about $32k a year. Riiiight.



Jeez I struggle to make half that ...
April 25, 2012 6:47:28 PM

Reynod said:
Jeez I struggle to make half that ...


$150k? You POS over paid lazy noob. :)  You're rich and don't deserve that money... where does his money come from? Union dues. How many employees does it require for him to make that salary alone?

If union dues at $150 a month, it requires 154 people working for him to make his salary. That's just one guy.
April 25, 2012 7:04:04 PM

riser said:
Unless that Labor Worker's boss is making $300k a year.. Oh wait, did I just call out the UAW Union Boss's salary? Oops.. he's not rich.. yet he claims his workers base pay is about $32k a year. Riiiight.


I was referring to manual labor workers.
April 25, 2012 7:39:44 PM

musical marv said:
The rich only care about themselves and no one else. They are making money through these bad financial times we are living in.Warren B could care less about the middle class or poor today. he cares if his company is making money and nothing else.


Why should they care about anybody else?...don't act like the poor care about anything either. They only care when something involves money also. The rich are the ones who were smart enough to use the system to their advantage which is what the free market economy and capitalism is designed to do and has historically worked perfectly.

Also, don't condemn them for making money in bad financial times. You are the ones who make the rich, rich. You buy the product, you watch the show, you watch the commercial, you talk about them...etc.

In addition, Warren Buffet does care, because if he didn't he wouldn't be one of the nations biggest advocates for tax increases on the rich.
April 25, 2012 7:47:10 PM

musical marv said:
The rich only care about themselves and no one else. They are making money through these bad financial times we are living in.Warren B could care less about the middle class or poor today. he cares if his company is making money and nothing else.


Marv, I'm rich. I'm saving money, making money in the market and all. My money is working for me. I worked hard to save my money and now my money is working hard for me. I care about the poor. That's why I don't give them handouts. I try to help them, I volunteer time to assist and educate. Though, of the homeless I haven't met one who actually wanted to do something to improve their situation.

Me? I took control and I took care of myself. Now that I'm able to fend for myself, I can really help people close to me. I'm rich and I care. I'm worthless if I can't fend for myself first before I try helping someone else. One I'm secure, then I can start helping other people. This is referred to as Maslow's Hierchary. Self Actualization is the top, once you achieve that level you are your own limit.

I know plenty of wealthy people who offer HELP to the less fortunate. I said HELP.. not hand outs. Struggling to pay your bills? Let's create a budget and review your spending habits and go from there. Maybe you don't need financial help but better spending habits. The vast majority of people are poor because they spend more than they make. The other are rich because they spend less than they earn.
April 26, 2012 3:21:27 AM

dogman_1234 said:
Ask a labor worker what he think about said rich. Now, ask a lager executive about what he thinks of the guys who are said rich. Both will tell you the same: They want to be with the rich. Money is like a drug, you constantly want more of it, and you are willing to do anything to get it.

Why do you think people play the lotto? The idea of collecting a 1,000,000% return is amazing!

Being rich is a subjective term describing those who are above a certain percent, weather it be the 99, 50, 20, 10, or 1 percent.

We see others who have great capital, but the capital shows merit to the amount of work they have *hopefully* placed upon themselves.
Money is the root of all evil which is true from the Bible to today. Greed commands all.
April 26, 2012 3:24:58 AM

riser said:
Marv, I'm rich. I'm saving money, making money in the market and all. My money is working for me. I worked hard to save my money and now my money is working hard for me. I care about the poor. That's why I don't give them handouts. I try to help them, I volunteer time to assist and educate. Though, of the homeless I haven't met one who actually wanted to do something to improve their situation.

Me? I took control and I took care of myself. Now that I'm able to fend for myself, I can really help people close to me. I'm rich and I care. I'm worthless if I can't fend for myself first before I try helping someone else. One I'm secure, then I can start helping other people. This is referred to as Maslow's Hierchary. Self Actualization is the top, once you achieve that level you are your own limit.

I know plenty of wealthy people who offer HELP to the less fortunate. I said HELP.. not hand outs. Struggling to pay your bills? Let's create a budget and review your spending habits and go from there. Maybe you don't need financial help but better spending habits. The vast majority of people are poor because they spend more than they make. The other are rich because they spend less than they earn.
Also some rich inherit their money like Romney, JFK and his brothers, and many more. You are a very unique person who cares about the less unfortunate than do most rich people.I praise you for this.
April 26, 2012 3:50:33 AM

"Less unfortunate"

Your double-negative of the day folks.
April 26, 2012 5:51:44 AM

Didnt Romney give his money away?
April 26, 2012 12:51:34 PM

musical marv said:
Also some rich inherit their money like Romney, JFK and his brothers, and many more. You are a very unique person who cares about the less unfortunate than do most rich people.I praise you for this.


I'm not Mormon but I'm somewhat familiar with their faith. Go to a service or two of theirs and stick around. They'll offer you financial help or any help you need. They won't give you hand outs, but they will help you if you're willing to be helped. Romney, to me, has shown that plenty of times and I really believe he will put things into play to give the American people a chance to help themselves. Though, he will fail at it because the majority will only want hand outs, not help.
April 26, 2012 3:02:28 PM

Your well off because nobody loves you hence you don't need to spend any money past your internet account and the trailer you live in with your mom.

Lets get real riser ... you sold your granny to the knacker yard for glue.

I checked your IP and its registered to St Vinny De Pail so you probably hacked them for free wifi.

I daw you last week getting burgers out of the McDonalds skip bin out the back.

I saw your prison hooch recipe on the tube.

That was you spamming the forums with that fake Nigerian Princess ransom scam.

I agreed to be your parole officer after the last pyramid scheme you cooked up with those mums at the daycare centre you infiltrated with a fake baby in your pram ... but your letting me down.

Did you take those photos of Mitt Romney and the donkey?

April 26, 2012 7:05:25 PM

musical marv said:
Money is the root of all evil which is true from the Bible to today. Greed commands all.


Maybe it is true, and in that case I ought to call America's entire society of welfare earners as greedy and evil. Maybe they ought to be tossed in jail?

In modern day society, you need money to live a healthy and happy life. As much as you may disagree with me valiantly due to some religious or implanted idea from childhood, its true. To make money, you need an education and effort.

Have you ever heard people saying, "Don't feed the animals at the zoo, because then they will depend to be fed by humans instead of hunting for themselves and die"? Same analogy works for humans. If you keep giving money to the poor, they'll be more dependent as generations pass by. Liberals have a very difficult time grasping this concept and have been systematically destroying the United States for decades now. Perhaps because most liberals are the ones receiving handouts, and the ones in congress need to serve the poor to keep getting re-elected. Either way, if it doesn't stop soon, REAL soon, then there will be even worse issues.
April 26, 2012 10:29:27 PM

Reynod said:
Your well off because nobody loves you hence you don't need to spend any money past your internet account and the trailer you live in with your mom.

Lets get real riser ... you sold your granny to the knacker yard for glue.

I checked your IP and its registered to St Vinny De Pail so you probably hacked them for free wifi.

I daw you last week getting burgers out of the McDonalds skip bin out the back.

I saw your prison hooch recipe on the tube.

That was you spamming the forums with that fake Nigerian Princess ransom scam.

I agreed to be your parole officer after the last pyramid scheme you cooked up with those mums at the daycare centre you infiltrated with a fake baby in your pram ... but your letting me down.

Did you take those photos of Mitt Romney and the donkey?


I'm concerned with the things you do and the places you go. :) 
April 26, 2012 11:18:59 PM

I hope other people here realise we are close friends and you donated the sperm ... wait ... wrong person.

:) 
April 27, 2012 3:18:27 AM

JAYDEEJOHN said:
Didnt Romney give his money away?
To who his rich friends. Romney is selfish and cares about his own kind the rich! he is a pathetic man to be a leader of this great country.
April 27, 2012 3:22:52 AM

blackhawk1928 said:
Maybe it is true, and in that case I ought to call America's entire society of welfare earners as greedy and evil. Maybe they ought to be tossed in jail?

In modern day society, you need money to live a healthy and happy life. As much as you may disagree with me valiantly due to some religious or implanted idea from childhood, its true. To make money, you need an education and effort.

Have you ever heard people saying, "Don't feed the animals at the zoo, because then they will depend to be fed by humans instead of hunting for themselves and die"? Same analogy works for humans. If you keep giving money to the poor, they'll be more dependent as generations pass by. Liberals have a very difficult time grasping this concept and have been systematically destroying the United States for decades now. Perhaps because most liberals are the ones receiving handouts, and the ones in congress need to serve the poor to keep getting re-elected. Either way, if it doesn't stop soon, REAL soon, then there will be even worse issues.
Why do Republicans always put down the Liberals which is complete crap that we are receiving handouts where as you people are more corrupt and money hungry than we are you state.The republicans care about getting us into wars, screwing our students with these higher interest rates, and getting the rich more richer that is their goal all these years.They are in bed with banks and oil companies all the way!
April 27, 2012 3:35:24 AM

OOOPs marv
You just messed up there
Besides the needed responses, WW1, WW2, 911, lets look at Vietnam, or Korea

As for corruption, explain the housing bubble?
That helped put the entire world into a spin.
Or Spain, or Italy, or Greedce?
April 27, 2012 9:26:39 AM

I have failed to make anyone laugh.

/wanders off
April 27, 2012 12:58:26 PM

I read an interesting article that I cant seem to find.

It basically said we need the rich to fund business. And this makes sense, the rich have so much money they can only save it and reinvest it. Capitalism would not work without a small population of "Rich" individuals putting up the capital. The issues come back down to when the wealthy establish a business how should the money that a business makes be re-proportioned to the people that work there?

April 27, 2012 1:46:42 PM

Oldmangamer_73 said:
Yeah, when was the last time you got a job from a poor person.


Probably like twice lol. Once from a self employed friend (started a diner) and from community service. Neither payed very well...... meh(one not at all).

From my point of view the reward system is messed up. Why should you give money to someone who makes 3.5 million a year and then give them a bonus when they run a company into the ground? Because they deserve it? What about the people who worked hard for that company 60 hour weeks did they work 1/500th as hard as the CEO?

I get an awesome bonus where I work and that make me feel like I have a stake in the company (Seriously it was like 20% of my yearly pay). Ive also worked at places like best buy and staples where no matter how hard you work you get an hourly wage and a 1.2% increase in pay. That type of practice deters people from actually trying. And rewards those who just have money and no effort involved, except from the people who actually work on the floor and actually make the money. They are rewarded the least.

April 27, 2012 8:12:41 PM

wanamingo said:
I read an interesting article that I cant seem to find.

It basically said we need the rich to fund business. And this makes sense, the rich have so much money they can only save it and reinvest it. Capitalism would not work without a small population of "Rich" individuals putting up the capital. The issues come back down to when the wealthy establish a business how should the money that a business makes be re-proportioned to the people that work there?


A salary...

musical marv said:
Why do Republicans always put down the Liberals which is complete crap that we are receiving handouts where as you people are more corrupt and money hungry than we are you state.The republicans care about getting us into wars, screwing our students with these higher interest rates, and getting the rich more richer that is their goal all these years.They are in bed with banks and oil companies all the way!


I'm not Republican, there are a lot of view that I disagree with them with. I agree on Republicans with Economic issues mainly. Its absolutely true that liberals are the ones that are receiving handouts...the majority of working class are conservative. Republicans are not anymore corrupt or money hungry than any Democrat.

Also, its everybody's goal to get richer, and this mainly shows the biggest difference between Republicans and Democrats. Republicans are smart enough to figure out how to get richer, while the Democrats envy them in jealousy and then demand handouts.
April 27, 2012 8:19:08 PM

Whats more greedy?
Those that can work, but choose not to(and thus have nothing to share)
or those that do, work extremely hard, are successful, and dont share?
April 27, 2012 11:55:49 PM

JAYDEEJOHN said:
Whats more greedy?
Those that can work, but choose not to(and thus have nothing to share)
or those that do, work extremely hard, are successful, and dont share?


Agreed 100%! You said it exactly.

Now wait and for the responses saying:
"Its not the poor's fault that they are poor" and
"Its all the Rich's fault" and
"Bush killed the economy"

I personally think that those who work hard and are successful already pay enough in taxation and contribute enough into the system. The Rich pay taxes AND they create jobs which thereby stimulates the economy which thereby increases tax revenue due to more tax paying people. However, somehow that's not enough, because the hand-out earners who do ZERO to contribute to the system, merely suck the blood and life out of the people who actually do.
April 28, 2012 4:16:31 AM

Heres the problem
Currently, things suck
The amounts of people in need are high, some good, some not, and alot thats always ridden the system.
If we make dramatic changes right now, for this period, to help everyone, then what happens when things get good?
I just watched someone showing off billions of dollars of empty federal buildings, millions of square feet, all being heating and maintained and...empty
Many of these properties sit in some of the highest taxes areas in the country, all over the country, and instead of selling or leasing, they sit.
Now some rich guy, some big corp, here there and everywhere were allowed to rent these buildings on the cheap, it would eliminate maintenace costs, and heating costs etc, and also would create a taxable scenario, turning this billions of dollar losses to a profit for us, and the government.
The republicans would, and are willing to do such things, wheres the dems on this?
If its some socialized ideal holding them back, they need to learn a few things, like number 1, it takes money to make money.
Instead of hating and demanding more of the rich, why not bolster them in avenues such as this, and everyone wins?
April 28, 2012 11:45:23 AM

JAYDEEJOHN said:
OOOPs marv
You just messed up there
Besides the needed responses, WW1, WW2, 911, lets look at Vietnam, or Korea

As for corruption, explain the housing bubble?
That helped put the entire world into a spin.
Or Spain, or Italy, or Greedce?
Do you blame Obama for this also?
April 28, 2012 2:09:47 PM

Reynod said:
I hope other people here realise we are close friends and you donated the sperm ... wait ... wrong person.

:) 


I gave you the necklace. winkwink
April 28, 2012 2:13:02 PM

musical marv said:
Do you blame Obama for this also?


Actually it was Clinton's policy in late '99 that started the issue with the housing bubble. Hear me out. In 99 he made the ARM loan available to the vast majority with intent to increase minority owned homes. The policy took official effect in 9/2000 if I recall correctly. The average ARM loan is 5 years.

When did the housing market collapse? 2005/2006? When everyone's new ARM loan expired.. the first 4-5 years under Bush were good after coming out of the dotcom bust and 9/11. I'm sure the excessive amounts being tossed around in the housing market assisted with that and Clinton did a great job in setting up the next Republican president to fail. Had Gore won, I wonder how it would have been handled and what the fallout would have looked like?
April 28, 2012 3:43:42 PM

If Gore won, they would find a away to put the blame somehow on Republicans. Clinton's Administration perhaps had great intentions, but they forced Fannie Mae and Freddie Mac to single-handledly destroy the entire United States Economy, by forcing private banks to give out loans and then buying them off to themselves soon after. This process continued for years.

Only somebody who mis-understands the economy and current events in that era would blame President Bush for "causing" the crisis, or blame private banks/investors for "causing" the housing market crisis.
April 28, 2012 4:02:42 PM

And further, look to the authors, Im sure they didnt vote for Bush
April 28, 2012 5:11:17 PM

Economics 202:

The reason one of many that the rich do not pay as much taxes as those in a lower bracket is so they can invest in business, enterprise, and resources (land, labor, capital, entrepreneurship.)

That is the principle. Now, given the state of the current economy in the United States, there seems to be an idea that if I were to invest...my return would be lover than my initial investment, or my investment would disappear due to volatility in the market.

now, take it form those in a lower bracket. They need to capital to start a business, to create jobs, or to get a job. If there is no initial investment, there is not initial creation of a sector in the economy. Mitt Romney knows this. I am surprised he has said nothing of the sort. Back to the lower bracket. They see this as a threat to their wealth security. A sort of 'class warfare.' This is political while it should remain a-political.

The problem is not taxes really. They are a burden. The reason is continuous instability in the market brought upon natural cycles in the economy. we have stepped in the lower bound of the cycle and altered the function of the equation. Result: We have a system of greater instability caused by the public and private sector.

The solution: That is for the individual person to decide.
April 28, 2012 9:22:01 PM

By not taxing investments, and defering taxes, as those investments pays off, they will be taxed, but taxing them does a couple things, it slows investment, it slows growth, it penalizes growth, investment itself.
How anyone can claim this as unfair, or even put it into such a construction of thought is a fool.
Todays economy needs?
Investment, and growth.

To reach for those monies now, and then put it in terms of "fairness" is greedy, doesnt set for the future, where that growth will pay off handsomely.
The only reason someone one go such a route would be if they needed alot of money immediately, like they were broke, probably from spending too much money to begin with, and it had then better be pretty darn expedient
April 29, 2012 1:41:19 AM

Oldmangamer_73 said:
Uhh, dog? The top 1% pay 40% of all income tax to the feds. Your first sentence is a bit "off".
They can afford it.
April 29, 2012 1:47:13 AM

blackhawk1928 said:
A salary...



I'm not Republican, there are a lot of view that I disagree with them with. I agree on Republicans with Economic issues mainly. Its absolutely true that liberals are the ones that are receiving handouts...the majority of working class are conservative. Republicans are not anymore corrupt or money hungry than any Democrat.

Also, its everybody's goal to get richer, and this mainly shows the biggest difference between Republicans and Democrats. Republicans are smart enough to figure out how to get richer, while the Democrats envy them in jealousy and then demand handouts.
Yes by getting us into senseless wars for nothing.I am a Liberal and I never asked for a handout in my life in 68 years sir.wasting millions of dollars for these stupid campaign ads by putting down the Liberals and Romney loved every moment of it.I hate ROMNEY!
April 29, 2012 2:08:50 AM

musical marv said:
They can afford it.


Yes, they can. However, you are only hurting yourself. Scrutinizing and pummeling the rich is an analogy to how a dependent hits his caregiver and the caregiver simply stops giving them money or is unable to. If you tax the rich more:

-They will invest less
-They will spend less (thereby paying less taxes on sales tax)
-They will lay off workers in their business (decreasing tax revenue, which is our ultimate goal in increasing)
-They will stop giving to charity/donate
-They will stop stimulating the economy
-Once the revenue goes down, the poor will demand more taxes on the rich in order to pay for all the new jobless unemployment.

This unfortunate process will continue until its unsustainable and at that point the rich will simply get out of the country and "find a way". At that point, the country will not be able to sustain itself and WILL implode. How do I know thats what going to happen?...well because history has shown it. Socialism doesn't work. The Soviet Union PROVED it. Unfortunately it took 70 years and 40million+ lives to understand its failure. Now its been 20 years since its gone and everybody "forgot"...And secondly, if I were part of this elite group of uber rich...I would the EXACT SAME THING.

So to answer your claim...yes...they can afford. However, it will be at YOUR cost.

musical marv said:
Yes by getting us into senseless wars for nothing.I am a Liberal and I never asked for a handout in my life in 68 years sir.wasting millions of dollars for these stupid campaign ads by putting down the Liberals and Romney loved every moment of it.I hate ROMNEY!


I said majority. There are some honest to heart liberals out there who work. Most probably work easy jobs for unions though.
April 29, 2012 5:06:24 AM

Oldmangamer_73 said:
Uhh, dog? The top 1% pay 40% of all income tax to the feds. Your first sentence is a bit "off".


Uhh, oldman? That is not what I was implying.

I was stating both Classical and Keynesian principles of investment.
April 29, 2012 1:00:27 PM

Yeah, there is a famous video of Bush pleading to Congress... the republican Congress at the time, to make changes to fend off the issue. No one wanted to make a move in a good economy. Repub Congress got knocked out, the Dems didn't want to do anything about it either and everything came crashing down.