More Spin and Lies About Wealth

Yahoo - Bloomberg - Why Rich People Feel Poor. The article begins by asking us to think about the top income earners. The problem is not the top income earners, it is the people who inherit mass amounts of wealth without contributing anything to society and then game the system and bribe politicians. Executives, doctors and lawyers who make $400,000 a year doing their job are not who people are mad at and they are not the one's bribing politicians to change the tax laws that would give a $15 million tax break to multi-millionairs who choose to invest in a Broadway play.

Here is a nifty little quote from the article, "Second, and more important, it doesn't demonstrate how little wealthy Americans get for their tax dollars. Sure, the rich benefit from the court system, national defense and everything else that maintains the society that underpinned their success." How little they get from paying taxes is apparently irrelevent and the writer is too stupid to understand what the wealthy do get. Lets start with all of the infrastructure that allowed them to make money, the roads, the sewer system, the water system, the electrical system, the petroleum industry, the legal system, the educational system that created knowledgeable employees, the government which buys billions in products each year. There is a reason that JP Morgan is so big and why GM was created in American and not the Soviet Union.

Now, here is what is really interesting about this article, it says that we should not compare the high wage earners to the idle inheritors of wealth. That friends is a bad sign for the trust fund babies. This article is sympathetic to people who earn their money through hard work. Wealthy Americans are scared, they know the poor and middle class are being screwed and are separating themselves from the wealthy, they see problems coming. Keep watching the tone of articles about "class warfare".

The Raw Story - Bryan Fischer tells poor people: ‘Kiss the ground’ beneath the richest 1 percent. I don't know much about the source; but, the statements in the video are good enough. The man is an imbecile and a cold-hearted, ignorant swine. Lets start with taxes, I am in the 20% of top wage earners because this country and my parents provided me an opportunity; but, I did the work and don't have a problem with paying higher taxes because I benefited from this country more than most. I succeeded in part because I was born very intelligent, that was an accident and my parents fault, I take no credit for birthing me.

This nation and the whole concept of Capitalism is supposed to be built on self-achievement and competition. I agree with that. Inherited wealth and privilege is contrary to the concepts of Capitalism and democracy. Idiots like this guy are basically promoting monarchies, inherited wealthy giving the undeserving more influence than is fair.

He then talks about entitlements like Social Security as if it is a gift from the wealthy. It is not, people contribute to Social Security for 40 and more years so that they will have some money in retirement. It is their money and they are entitled to have it returned to them when they retire. It is an insurance policy. He is basically saying that if you buy life insurance, there is no reason the insurance company should pay out to your beneficiary.

myfoxny - Future of money. Just another article with people swooning over the idea of an all electronic currency where your biometrics connects businesses and the government to your bank account.