View Poll Results: Does it matter Millionaire - Billionaire?

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  • No, they're both too wealthy.

    6 11.76%
  • Yes, it's a big difference.

    32 62.75%
  • Don't care, got mine.

    4 7.84%
  • Peanut butter.

    9 17.65%
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Thread: The Wealth Gap

  1. #1
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    The Wealth Gap

    The other wealth gap

    "From an economic perspective, the most dramatic wealth gap is between middling millionaires, who have seen only modest gains, and the booming billionaires, who now seem to defy economic gravity. It's between the guy making $300,000, who still feels poor, and the man who made $37 million a day for a year. Both are lumped together by politicians, the media and even economists as "the rich" or "the 1 percent," who are gaining at the expense of everyone else.


    The big winners are those in the top 0.01 percent. These folks, who have a net worth of more than $100 million. How are they doing it? The top 0.01 percent are stock-market winnersóCEOs, bankers, entrepreneursówho are riding financial markets to outsize gains. The rest of the top 1 percent are often mere wage earners."



    Does this matter in your opinion of who's really "leveraging" the system in their favor?

    I'm not getting into whether.. it's fair or not.. to be able to use your incredible wealth ($1 billion+) to manipulate markets, but rather> do you see a difference in the gaps?
    Einstein, "science without religion is lame, religion without science is blind."

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    Re: The Wealth Gap

    I don't understand the question.
    If you expect people to be rational, you aren't being rational.

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    Re: The Wealth Gap

    Quote Originally Posted by mpg View Post
    I don't understand the question.
    It's a matter of not seeing something that Archimedes understood all too well: With a big enough lever, you can move the world. Only in the financial realm, the lever is money.
    Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

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    Re: The Wealth Gap

    Nobody should be allowed to have a billion dollars. We need an upper-upper tax bracket of 100%.

  5. #5
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    Re: The Wealth Gap

    Quote Originally Posted by Peter Grimm View Post
    Nobody should be allowed to have a billion dollars. We need an upper-upper tax bracket of 100%.
    Why not??
    Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

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    Re: The Wealth Gap

    Quote Originally Posted by faithful_servant View Post
    Why not??
    That's too much money for one person.

    That much money is power. I'm not in favor of too much power in the hands of only a few.

    The Bill Gates' and Warren Buffet's of the world should be capped at like 50 million.

  7. #7
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    Re: The Wealth Gap

    Quote Originally Posted by mpg View Post
    I don't understand the question.
    Is it fair to lump the Top .01% in with the rest of the other Top 1%?

    One group are (billionaires) stock-market winners—CEOs, bankers, entrepreneurs—who are riding financial markets to outsize gains. The rest of the top 1 percent are (millionaires) often mere wage earners.
    Einstein, "science without religion is lame, religion without science is blind."

  8. #8
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    Re: The Wealth Gap

    Quote Originally Posted by grip View Post
    Is it fair to lump the Top .01% in with the rest of the other Top 1%?

    One group are (billionaires) stock-market winners—CEOs, bankers, entrepreneurs—who are riding financial markets to outsize gains. The rest of the top 1 percent are (millionaires) often mere wage earners.
    but in what context? You already ruled out fairness.
    If you expect people to be rational, you aren't being rational.

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    Re: The Wealth Gap

    Quote Originally Posted by Peter Grimm View Post
    That's too much money for one person.

    That much money is power. I'm not in favor of too much power in the hands of only a few.

    The Bill Gates' and Warren Buffet's of the world should be capped at like 50 million.
    You still don't explain why you think that way. What's the basis for your thinking?? You already offered up your opinion, but what I'd like to know is what it is that created that opinion. Why do you think that there should be a cap on personal wealth? If it's power, then you're wrong, because you can have massive power without wealth, so limiting wealth does not limit power.
    Our nation has not always lived up to its ideals, yet those ideals have never ceased to guide us. They expose our flaws, and lead us to mend them. We are the beneficiaries of the work of the generations before us and it is each generation's responsibility to continue that work. - Laura Bush

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    Re: The Wealth Gap

    As a European, I will offer a few words of caution to you Americans as well.

    What happens if you let too much money accumulate in the hands of a few is you end up with aristocracies. Generational wealth. Like we have in Europe.

    You may never give them titles like Lords and Earls and such, but you will have them all the same. These people don't work for a living. They live off their inheritance. They buy political power and they are above the law.

    These people are a cancer to society, and you should stop it from happening before it infects your whole society.

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