The top incomes today

The top 25 hedge fund managers' incomes will knock your socks off. And bear in mind that these people DO NOT contribute any useful goods or services to the economy. It's all money making money for the sake of money and wealth, which could be used very well for significant society needs. These are the people who should be taxed in a 70% or greater tax bracket.

https://www.forbes.com/hedge-fund-managers/list/

 

Just another form of gambling..

 

Eat the rich!

 

Not quite, really. For example, the futures market once, not long ago, had a very legitimate use, and hedge funds take advantage of that concept to make huge returns.

 

Well if it's not part of gambling it must be because the investment world is full of distrusting souls..

 

I agree, hedge fund people like Soros don't contribute anything.

 

Why couldnt Joe Blow put some money into the market and generate profits for himself?

 

His son spent it all on crack.

 

I did and I grew up barefoot and hungry. Just made it out of high school while holding down a part-time job. Served in the Navy after graduating. Out of the Navy at age 21 working for minimum wage. By slowly learning a trade, sometimes working 2 jobs, and slowly investing in the Market I got rich and retired at age 55. It wasn't rocket science but it does take common sense, some study, hard work and true grit. Now some slacker is envious of my living standard and wants to tax me at 70%. You know what you can do to a donut.

 

If the fund managers are making big money, it’s because they’re doing a good job.

What’s the problem?

 

If they don't contribute anything, why does anyone pay them to do what they do? It's not like their your favorite form of human being - government bureaucrats.

 

The problem is envy among the Sanders crowd. Also envy among the slackers on the Forum.

 

I've been making a killing off my 401K investing for the past 25 years.

 

54% of American families owned stock investments in 2017, either directly or as part of funds. Joe Blow does invest, and share in the profits. Those who don't could. All one has to have is the motivation to start saving, and open a brokerage account- which cost nothing to do or own. You slowly add to it, you can learn the in's and out's of the market and investing free on line including by live simulations. Fees are paid only when stocks are bought or sold- and the are very, very low. If you open a Roth IRA, there are no taxes at all on your gains. If you open a regular IRA, you pay no taxes on the money you add to the fund.

There is no barrier to the average person sharing in the growth of stocks except the person themselves.

Investing is the platform by which people fund industries and expansion, which creates jobs, new products, new technology. People trade their interests as times change and their position changes. One person want's out, another wants in. But the bottom line is that the stock market keeps that pool of finance intact, and that is key to our overall economy.

 

Duh... to make them more money with money for the sake of money that they can sequester away offshore? I suppose you consider that to be a contribution to society.

 

Stop slandering people and writing libelous comments without cause.

 

That's the people soak the rich schemes and lots or regulation always enrich.

 

I do understand the OP's point. Fund managers don't create any new wealth. It's all on paper. Who cares though?

 

They put their capitol where it will do the most good.

 

Cause Joe Blow doesn't have the money or the inside knowledge these guys have.

They eat Joe Blow for breakfast

 

I don't see any problem. Just pay your taxes!

 

Everybody who works does.

 

They don't. Not always their fair share.

 

When people invest in the stock market, whether they be rich or poor that money they are investing in companies, those companies then have capital to invest in new facilities, equipment and employees. That is exactly what we have been seeing since 2016. Everyone who puts in effort is getting richer.

You can be as angry as you want at other people success but your envy is your problem not theirs. They aren't stealing, they are using our system just like anyone else can.
Rich people don't owe anyone anything.
Yet they already pay for almost all of the national budget.

Socialism is about killing the rich and taking from them, that's what it does every time.
It spouts nonsense about equality but it's about greed.
Capitalism is greed for the hard working
Socialism is greed for the lazy.

 

You have illusions about how the stock market works. If you submit a buy order for stock and your brokerage fills your order, the underlying company KNOWS NOTHING ABOUT IT. They do not benefit from it. The broker does; the market maker does; the seller may benefit. But the company knows nothing about it other than any influence it may have on the price of the stock, which, when it rises, increases the value of stock options held by the corporate officers and CEO, which at some point they exercise for income.