What is wrong with being part of the 1%? Name one person, besides the deceased Mother Theresa, who does not want to earn at least $343,927 a year? According to the IRS, about 1.4 million households reached that level in 2009, earning nearly 17% of the nation's income and paying roughly 37% of the country’s total income tax. I want one legitimate reason why someone would NOT want to earn that much money. Then, I will admit that I am wrong.
Don’t come back to me, whining that it is unfair that some people earn a lot more money than others. Life is not fair. Maybe those who earn more, work harder. Our democracy is based on capitalism, not a Karl Marx communist philosophy of from each according to his ability and to each according to his needs.
If you claim that you don’t need $343,927 to live on annually, then give it away voluntarily. You don’t have to spend the money on yourself. But our country’s economy allows us to earn as much as we work to achieve; and it does not have to be shared with those at a lower income. It is a person’s individual choice to be charitable or not.
I know that driving a 1987 Volkswagen Beetle will take me to the same place as a 2011 Bentley convertible, but it won’t give me the style or comfort I have earned or deserve. Why wouldn’t anyone desire a luxury car? I owned a Ferrari once, and I felt very cool driving it around. Great ego booster!
What is wrong with wanting a beautiful home, vacations, jewelry, fur coats, designer clothes, lobster every night and champagne, to toast that you actually woke up and are still alive? It is only “wrong” for those who have the absurd belief that those that have, owe those that have not.
I guarantee that not one single one of the Occupy Wall Street protesters would rip the ticket up if they discovered they won the lottery for $100 million dollars. Nor would they give the prize away.
Actually back in 2007 it took $424,000 to make the cut, but income levels have gone down and now it only takes $343,927. Life is rough for the one percenters, but it is still better than sleeping in a tent.
Zsa Zsa, I don't know what to say.
ReplyDeleteThe “1%” is catchy. I think it is more realistic to look at the disparity at the “gross exaggeration” level. Is anyone worth total compensation of $28 million a year? How does that look to the employee of the same company who is paid $14 thousand for what we might consider menial work? How does it look to the unemployed who would take a minimum wage job if she/he could find one?
ReplyDeleteI grew up with someone who, over his lifetime, had earned many more times what I have earned. He argues that I favor a re-distribution of wealth. I argue that I favor a re-evaluation of income. If the $24 million dollar executive left 60% or 70% of it on the table, for his employer to use to hire more people — paying them $40,000 to $60,000 per year, the executive would continue to live handsomely and several hundred families would be able to live a “middle class” life.
I am not ashamed to admit that I want the Bentley! Black with camel interior!
ReplyDeleteOur biggest problem with wealth and taxes at this time is not the fact that 1% have 17% of the income and pay 37% of the tax.
ReplyDeleteThe real problem is how few (about 47%) pay no income tax. They have no reason to worry about an out of control gevernment that wastes hundreds of billions per year. They don't pay for any of it, and as a result have no desire to punish the politicians and bureaucrats that are responsible for the waste.
I guess the only solution is to have people volunteer to be politicians and not get paid much for it, kind of like jury duty. Then we wouldn't have to support those people who will do anything to stay in office and leach off the citizens.
ReplyDeleteMorgan Mandel
httpp://morganmandel.blogspot.com
When it comes to the 99% I do sympathize with some of them. There is one guy who is a 56 years old engineer whom scored high in his current position but if he takes a promotion he will be at risk for lay off. Over time is unpaid but expected in his position. That is not right. If you are good and proficient at what you do, you should be awarded accordingly and not penalized; some of the 99 also referenced being at abusive jobs and how they had to leave because of the abuse. I truly do sympathize with these people but this is not wall street’s nor the 1%’s problem. Maybe they should go to each business and invoke change within company policies. There are a lot of companies with immature people in charge now days. Policies need to be changed and companies need to be held accountable for who they put in charge. This is one of the main reasons businesses are failing. Camping out in park, interfering with businesses around the area and penalizing the 1% is not a way to promote change; their overall message is being lost within this attention getting scheme. The 99% are ruining their own cause.
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