What caused such "dangerous" income inequality?

[video=youtube;LfgSEwjAeno]http://www.youtube.com/watch?v=LfgSEwjAeno[/video]

Clearly, it just couldn't be caused by education, experience, talent, right?

And what defines the term "dangerous"? People in Venezuela are poor as dirt, they are pissed off big time but you don't see them having massive riots and stuff? Is it not "dangerous", because they are more equal than us?

 

Well, no. Clearly, it couldn't.

 

Inequality is merely a byproduct of a well functioning Capitalist system.

It's only good or bad (dangerous) when you determine its causes.

 

It's good that you acknowledge that. Finally.

It's good or bad depending on whether or not it hurts people.

 

I've always acknowledge that. You must not know me very well...

Whether it can hurt people is dependent upon its causes, as I have said.

Individual earnings are directly related to productivity. People make the goods and services we all enjoy. Some people are better at that than others, and that is mutually beneficial because that makes everyone in society better off. When people create value for society, their incomes grow. If that is what causes the gap in incomes, then income inequality isn't so bad and it really isn't much of a problem.

 

Right, because the people that it hurts are only poor people, and they don't count.

 

The poor have access to an increased standard of living and the goods and services that are not available in most places in the world. The Poor in the US practically live like kings compared to everyone else.

What ultimately must matter are how the poor are doing. While they're not doing great (then again, who is in this economic climate), but they are better off than at any time generations ago.

 

Venezuelan Capital Hit By Fresh Wave of Riots

 

In this day and age especially in a nation as wealthy and as economically dynamic as the United States....THEIR SHOULD BE NO HUNGER....NO DESTITUTE....NO POOR AND NO UNEMPLOYMENT!!!

I am exceedingly wealthy and I worked VERY HARD to be so...but not everyone scores 1560 on their SAT's or has a genius level I.Q. so those of us that do and have found the means to become wealthy HAVE A RESPONSIBILITY to help educate and if necessary REEDUCATE workers who's fields of work have either been outsourced or eliminated due to High Technology.

The Stock Market and those who work on Wall Street MUST BE WATCHED AND PUNISHED WHEN IMPROPRIETIES OCCUR.

Years ago I bought 50,000 shares of JDS Uniphase which currently is a leading provider of optical products and test and measurement solutions for the communications industry at around $9 a share.

I bought at a time when JDS Uniphase was the ONLY viable company doing this work and my stocks split more times than I can remember.

Those who were employees of this company received a percentage of pay and bonuses in Stock Options.

I saw the Market collapse coming and I sold my stock as I kept track of how the Officers of JDS Uni and their PROXY STOCK HOLDERS....people who owned JDS Uni stocks IN NAME ONLY....began to sell off their JDS Uni stocks and I did as well.

Suddenly.....JDS Uni stocks FELL HARD....and FELL....and FELL!!!

JDS Uni Bosses told their employees who had all their retirement in JDS Uni it was just a hiccup in the Market and to hold onto their stocks as the Bosses told their employees....IF YOU SELL...IT WILL START AN UNNECESSARY PANIC AMONG OUR STOCK HOLDERS AND OUR STOCKS AND YOUR RETIREMENT FUNDS WILL PLUNGE!!!

So as many FAITHFUL EMPLOYEES held on to JDS Uni stocks....their BOSSES AND THEIR BOSSES STOCK PROXIES WERE DUMPING JDS UNI FASTER THAN A PERSON ON THE POT IN THE MORNING AFTER THEIR 5TH CUP OF COFFEE!!!

Result?

Most JDS Uni employees and stock holders lost everything as at the time the stock fell from about $139 a share to $7 a share.

My POINT here is....working hard and making the right choices and decisions based upon study and education is not something all people are capable of doing....and those who are....and become Multi-Millionaires and Billionaires....the proper, honorable and LEGAL way....have a responsibility to those in need.

And one of those responsibilities is to track down and punish and make PAY those who became Multimillionaires and Billionaires OVERNIGHT....because they knew to SELL SHORT!!!

AboveAlpha

 

Boo Hoo. This 'Income Inequality' stuff is nauseating. Invented as another 'condition' the left is dedicated to correct (with someone else's money no doubt). Yet another means to garner votes from groups with little to no motivation to do anything for themselves. Why should they?? Obummer will provide them a living. Our modern day Robin Hood.
It's not the income that is unequal, it is personal motivation. Another step toward socialism. Wake up.

 

To hear such grousing in the Land of Opportunity seems odd. Why do so many people want to come to America if it's such a rotten, horrible, unequal place? People come to America with nothing, they work hard and work smart, and become productive and leave people who were born here in the dust. They succeed by adding to the economy. Not by waiting for the government to make everyone equal.

Or as PJ O'Rourke put it: If there's not enough pie to go around, make some more!

 

Can't help but noticing that a lot of money sticks to the hands of the redistributive bureaucracy. Funny how that works.

 

Unrealistic...

1. What's a Proxy Stockholder?

2. Profit sharing for firms and establishments is done with retirement accounts. These retirement accounts are set up by the company itself, not the employees. employees who have stocks as a part of their retirement don't actually have direct exposure to assets in their funds. It's all done through fund or ETF, of which a fund is managing a retirement account for them. You cannot sell assets you don't have direct access to.

Your story doesn't make sense (not that I expected it to), but if your story has a moral, you should at least make sure it is a believable story...

 

Hey...I voted REPUBLICAN last time around!!

I don't think there is anything wrong with a person fairly, honorably and LEGALLY making as much money as they can and get naked and screw their girl in a PILE OF IT!!!

But....when people start taking advantage of others and making massive sums of money ripping others off....we have a problem....and we do!

AboveAlpha

 

OK....we will now see if you actually have anything to do with Wall Street.

Please explain to the membership EXACTLY HOW....Corporate Officers who KNEW their stocks were vastly over inflated were able to prevent their employees from dumping their stock in the company as the employees could know that their bosses still had several Million or more in company stock in their name but in reality how did these bosses sell off 10's of Millions in stock without employees knowing?

Don't take on what you can't handle.

AboveAlpha

 

If people are breaking the law, stealing from others, then prosecute them. But do not confuse legal income with theft. Oh WAIT. Holder is the AG, he's too busy prosecuting people who build parade floats. Not all successful people are thieves.

 

They didn't dump their stocks because they don't have direct exposure to those shares. In other words, they're not share holders. Retirement accounts are initiated through profit sharing and savings incentives, and those are initiated are used with funds. More accurately, mutual funds and ETF's. Most retirement accounts (in fact, all retirement accounts) ultilise these financial instruments. This is generally the most feasible way for employers and employees to poor together resources for employees nest egg. That is unless you really expect everyone to believe that employees of JDS Uni had their retirement in just one stock...

And just so you are aware (just a pro tip) anyone can find if an executive from any company has bought or sold shares from his or her own company. There is no way that an Executive can unload their stake in their own company without anyones' knowledge. The SEC makes these transactions public... At this point, I really can't tell if you are really inept, or you just believe everyone else is...

 

I am not asking about employee Retirement Plans....I am talking about stocks employees had been given as PART OF THEIR PAY such as in BONUSES...as such stocks can be sold at any time!!

I did mention employee retirement stocks becoming worth nothing after the stock dropped and this massive and quick drop was helped to a great extent as PROXY STOCK HOLDERS....these are people who already are wealthy and have multiple sources of income who are PAID....to purchase Stock in their name with washed or laundered money coming from PAID OUT MASSIVE BONUSES TO COMPANY EXECUTIVES....as such Executives will only keep several million in stock in their name that they purchased and have 10's of Millions worth of stock in PROXY NAMES.

If the stock is over inflated....and a collapse seems imminent....Executives hold onto their purchased stock and tell employees NOT to dump their stock as this would cause a selling frenzy and the stock would plunge....but Executive Proxy Stocks are sold and these are VERY LARGE AMOUNTS OF STOCK...immediately followed by the executives dumping their several million in stock....followed by EMPLOYEES now dumping all the purchased stock or stock they received as Bonus Pay....and when THAT happens....the Executives REAP IN THE DOUGH....as they made sure to set up Proxies to SELL SHORT....just before they entire process of selling begins!!

You should KNOW this!!!

Perhaps you work in the Mail Room?

AboveAlpha

 

I do not confuse legal income with theft at all.

What could possibly make you think that?

AboveAlpha

 

You statement included: "......making massive sums of money ripping others off."

That to me means something illegal.

 

Yes...I said that....and all I said was that those ripping off....and that mean's ILLEGALLY RIPPING OFF...others is what must be stopped and unfortunately MONEY BUY'S POLICY!!!

I myself have LEGALLY....made a LOT of money and I worked had and I will NOT APOLOGIZE FOR IT!!!

But when people can run PONZI SCHEMES....and steal BILLIONS from those who can least afford to lose that money because U.S. Laws allow loopholes that make such theft possible....we have a problem!!

AboveAlpha

- - - Updated - - -

HEY!!!

Wall Street Vix!!!

I see you are still on here so where is your reply?

AboveAlpha

 

Capitalism unfettered enough by government which should be that ball and chain to temper extremes of wealth.

 

Companies cannot just give stocks away arbitrarily give stocks away, especially not as part as bonuses. Stocks are initially diluted as a result of an IPO or an Employee Stock Option, which gives certain employees the right, but not the obligation, to purchase a specific number of stocks on a certain date.

Aside from these examples, there is really not way to be GIVEN shares in a company. Stock purchases require a buyer and a seller. That's really basic, and something you should have really learned before concocting that story of yours.

Again, what is a Proxy Stock Holder? You should have already learned from me asking you the first time that there is no such thing as a Proxy Stockholder.

There is no such thing as an Executive Proxy Stock, you don't receive stocks as part of a bonus and JDS Uni has never given any stocks as a part of their bonus or retirement... JDS Uni retirement funds consist of Money Market Account, Short-Term Bond Fund, Diversified Bond Fund, Value Equity Fund, etc, etc.

I can show you if you'd like, but JDS Uni doesn't give stocks away as bonuses. No company does. There is no way to actually do that...

I don't know why you are so content in embarrassing yourself, but you were better off pretending you knew a thing or two about playing Football...

 

Oh...and WS VIX....LOL!! Sounds like a SHIP! LOL!!!

WS VIX....posting this to me.... "At this point, I really can't tell if you are really inept, or you just believe everyone else is..."....end quote Wall Street Vix.

Posting things like that will NOT get you invited to Chucky Cheese Birthday Parties!!

AboveAlpha

 

I think the video segment addressed an important factor concerning Income inequality-- the psychological impetus to make it rich despite the improbability of that ever happening. It reminds me a little bit about the myth of Sisyphus. I'm not American so I don't have the same 'optimism' so widely acclaimed, but it does make you wonder. Isn't work and family enough that you also have to worry about excessive accumulation as well? Thanks to whoever put that up. Income inequality might just well boil down to having the right attitude. Idk.