How the Rich get Richer

Yeah, those rich guys decide they'll be born rich, get off their backs! Those people that decide to be born poor deserve to stay poor, and pay for the rich getting richer with their tax dollars. You tell em, Lex.

I didn't catch the entire program, but do they ever mention that lower-income people use more public benefits?

I don't know that for sure, but it seems logical to me. If, for example, your household makes over $100,000 per year, you wouldn't be qualified for food stamps, medicare, etc. Right? Therefore your benefits per tax-dollar would be proportionately smaller than a family that makes much less.

Am I missing something here?

Am I missing something here?

Uh, I'm going to restrain myself, and just say, hmmmm.............could be.

The opening comment here suggests the poster did not read what I said.

Does "Lex Luthor" think he should pay taxes that go NOT to government, but to the Waltons and other rich families and individuals? If so, please explain.

Also, tell us how many hours or days you are willing to work each year to add to the fortunes of the Waltons and others like them? And explain why you do not believe the market is sufficient and people like the Waltons need to be subsidized.

Don't get me wrong, I am no fan of corporate subsidies, but why is this spun as a money to the wealthy thing?

The wealthy do not own the majority of corporate wealth, the middle-class does through its retirement funds.

The wealthy pay most of the bills in this country and the wealth the middle-class has invested in its retirement funds is placed there tax-free, not taxed as it grows and taxed less when it is withdrawn.

I was lucky to catch this talk on the radio on my day off. Thank you, Mr. Johnston. You deserve a Medal of Freedom, though I doubt you'll receive it. I don't know why I was shocked, it shouldn't have come as a surprise.

I've had a conversation with people who think at the end of the day they're getting low prices at Wal-Mart. I remind them that as taxpayers we may be paying small amounts at the W-M cash registers but we're footing the bill for its employees' health benefits, vis a vis community health services and emergency rooms.

I dispute the statement that the wealthy pay most of the bills in this country, and the suggestion that the middle class is getting away with something by investing in retirement funds. Frankly, if I could convince my husband to pull all our 401k money out of the stock market and stick it under our mattress, I would. The market is one more racket that the middle class is forced to enter (in the guise of "growing" its nest eggs) but it mainly seems to enrich the wealthy and powerful, who can dump shares quickly and easily.

The question above misses the point. I don't believe the wealthy should be taxed disportionately; rather, they should be taxed at a progressive rate, same as the middle class is. The more money you make, the more you pay. Very simple.

Very cool article..........

Hmm, kind of a weak talk, but I see what you're getting at, and you are definitely right.

I wish some of this kind of money would be put into stretch marks research, but then again, I guess you could put the money into just about anything health-related.

I'd like to get richer......... How do we become the Waltons?

Are you sure the scheme works?

Coolest article till now for me, thank you for the great work you did.
Nicole
ameda Ultra

A version of the phrase was popularized in 1921 in the wildly successful song Ain't We Got Fun, and the 70-536 exam phrase sometimes attributed to the song's lyricists, Gus Kahn and Raymond B. Egan. Oddly, the lyrics never actually say that the poor get "poorer;" instead it takes off from or alludes to the line, showing that it was already proverbial. They cue the listener to 642-845 exam expect the word "poorer," but instead say

There's nothing surer: The rich get rich and the poor get—children;642-825 exam

and, later:

There's nothing surer: The rich get rich and the poor get laid off;

Note too that the Kahn and Egan lyrics say "the rich get rich," not richer.[7][8][9]

The line is sometimes mistakenly attributed to F. Scott Fitzgerald. It appears in The Great Gatsby, as

the rich get richer[sic] and the poor get—children!642-436 exam

The character Gatsby orders the character Klipspringer, sitting at the piano, "Don't talk so much, old sport.... "Play!" and Klipsprinter breaks into the Kahn and Egan song.

growth of the upper class does not derive from previous wealth handed down through family, but from highly paid employees and entrepreneurs. "Hyper compensation" in highly competitive industries began in the 1980s with Wall Street and grew into a culture we've seen get out of control. In 2003, for instance, New York Stock Exchange chief executive Richard Grasso's $140 million pay package made headlines. And this trend continues, despite the recession. I personally see nothing wrong with the "working rich", but I do worry about the effects of income inequality for the poor and middle class. The poor are left to bare the brunt of survival. Their income can't keep up with the rate of inflation, and with the rising price of commodities, even grocery shopping taxes the budget. The long term effect is a growing income gap.

Why do the rich continue to get richer, at an accelerated rate? Well, history helps to explain this. In the years leading up to the Great Depression, most of the newly rich acquired their income from equity. Now of course, we all know that came crashing down, but the ones who survived or returned to the game had a sophisticated financial mindset. Promotional Products Promotional Products Corporate Gifts

I do not know how much the content of this book changes from edition to edition. I have read two subsequent editions of this book and there was some updating of analysis but mostly updating of statistics. I am unsure how much this applies to changes between other editions.

In this book, Reiman shows how the criminal justice system discriminates against the poor at every turn. The anti-social acts most likely to be committed by poor people are crimes, while those most likely to be committed by rich people are not. Of people who commit the acts which are considered criminal, the poor are more likely to be caught. Of these people, the poor are most likely to be convicted. Of those convicted, the poor get harsher sentences. Reiman presents lots of interesting and convincing evidence to demonstrate these points.

However, he goes further and attempts to show how this helps to reproduce the capitalist system, and that this is why these inequities persist. Unfortunately, his analysis in this regard is very much wanting. Some of his arguments that these inequities help reproduce the system are good, some aren't. At the beginning of the book, Reiman promises to demonstrate how the benefits to capital of this irrational system of "justice" keep us from fixing the criminal justice system without resorting to conspiracy theory. His starting point is basically that we have this system because of historical inertia. Those who benefit from it didn't create it, but they keep us from fixing it. However, it seems as if all of his criticisms of the idea of a conspiracy to create it would apply equally to his idea of the powerful preventing the system from getting fixed, or even their inactivity with regards to reform (his main criticism of conspiracy theory is that people usually don't do things they know are this socially harmful in order to benefit themselves, so why do they allow this system to keep going in order to benefit themselves?)

In some editions of this book, there is a supplementart chapter in which he tries to sketch an alternative to his "historical inertia" theory. However, it is based on the outdated writings of certain Marxian legal theorists, without any mention of more current Marxian legal theory. This chapter is totally useless, although I think that some application of Marxian legal theory (but not the way Reiman does it!) would be the key to understanding the origins and reproduction of htis inequitable system of criminal justice.
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I personally believe that the wealthy should pay more tax. This is the best way to ensure that the poor and vulnerable are looked after whilst keeping those who are making some money motivated by not taxing them as harshly as the super rich.

Just my 2 cents anyway.

James Wight
From the Acne Treatment Blog

Its all about having money to make money. This is how it always works. I am not sure what to think about this.
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