Redistribution of American Wealth

And we circle back to the question of what fair share means. I think it is the same proportion everyone else pays and for some it is virtually all of their wealth.

 

There is no intercontinental highway system for most it is ankle express or nothing. That if nothing else limits your horizons.

 

But when you invest you’re not just sitting around as you are investing in future growth.
It’s not like you are idle rich and playing the ponies or playing roulette on a river cruise.

 

I lived in the DC area for awhile and their public transportation is so cumbersome, you still need a car to use it unless you want to take even more hours each day coming and going than you already are. Where I am now, it would be easier, but the cost of living is so much lower, buying a used car and keeping it in shape is still money well spent and a rational choice.

 

Well, I chose to live in places with good public transportation and that was a net economic benefit for me. I missed out on Gallup New Mexico I guess but I think that was ok.

 

I'm not sure what you're talking about. I'm talking about wealth inequality.

 

For you that sounds like a solidly good investment choice.

 

Well of course it is not simple - is your life experience such that as soon as something is not simple - you give up ?

But worry not - PC has dictated that we can not talk about industrialization and population growth as root cause issues.

 

'
Yeah .. its more like 60 years

 

I have no idea if Nancy Pelosi does her taxes at Walmart or HR Block, but whoever that is... those are the type of experts that could answer the poster's question.

 

Here's what I'd like to know. How does 8 years at a job that pays $400k per year get you to $70M? The grand total of the pay is "only" $3.2M, and that's if you don't spend a penny on anything, or pay any income taxes. I don't think POTUS gets charged rent for those swanky Whitehouse digs, but he/she does still have to pay for what they eat, and every ounce of booze they drink, tuition for the kids fancy private schools, and more. And, yeah, his wife was/is a lawyer, but I don't think she did much lawyering during his Presidency.

If any of us normal folk had an increase in net worth like that while on that salary, you can bet the IRS would be crawling down our asses wanting to know how. And my curiosity isn't just about BO, it applies to many Congresscritters (very much including Pelosi), past Presidents, and other politicians on both sides of the aisle who managed similar math.

 

Writing bestsellers is big money, by both Obamas.



Michelle's book isn't included in the graph, and it set records.

 

And I vote for a return to the original, "temporary" rates from 1913. They are listed below for your reference:

Earned Income, Inflation Adjusted Marginal Rate
$0-$520,802 1%
$520,802-$1,302,005 2%
$1,302,005-$1,953,007 3%
$1,953,007-$2,604,010 4%
$2,604,010-$6,510,025 5%
$6,510,025-$13,020,050 6%
$13,020,050+ 7%

Note: The first $78,120 for singles and $104,160 for married filers were exempt. That exemption actually applied to all income levels, I just didn't feel like doing the math.

 

Leave it to you to follow up one simplistic post with two or three more combined with faulty assumptions...

By the way PC never stops me from discussing anything nor should it stop you.

 

Hey we're taking Africa here...

 

I'll stick with the era that brought the U.S. to being the number one economy in the world. We must've been doing something right...

 

~ I think in parts of Egypt you can get a camel ride cheap ´

 

I just did. They are all from the set consisting of usual Wall Street suspects -- i.e., those who are reliably subservient to the banksters.

 

I doubt you can accurately describe my views, or who or what I am.

Oh, OK, I get it: I have proved your claims flat, outright false as a matter of objective fact; you know it; and you have no answers.

So you are sticking with your claim that CEO pay accounts for more than half of US GDP??

Somehow, I kinda figured it'd be something like that...

 

Unfortunately true. The arbitrary borders drawn by the colonial powers made Africa effectively ungovernable in the post-colonial era.

 

Yeah, here we go again: no data or evidence to support your claims, just an ad for a proprietary report costing three grand!

And apparently doesn't support your claims, either, as you have not quoted any of the data.

How do you explain the "propagandistic lie" that American CEOs are paid an order of magnitude more than Japanese CEOS of similar-sized companies, yet their firms' financial performance is unrelated to their pay?

 

Yeah, here we say, "It can't happen here." In Germany, it's, "It can't happen here again."

 

What we did right was that after WWII we were the only industrialized nation with our infrastructure intact.

 

We have had a good run - more than 200 years and have avoided totalitarianism - don't hold your breath that we can go another 200 ...