Wiseacre
Retired USAF Chief
When I read many of the posts from the lefties in this and other threads, I am struck by the impression that they believe income and wealth are zero sum, IOW the rich guys accumulate their wealth at the expense of everyone else. Which is not true, The middle and lower income folks are not and will not be paid more than what it would cost to replace them, regardless of the profit a business makes.
A pretty good chunk of the income inequality is based on capital gains. Since the rich guys have the most money to invest, it stands to reason they will profit the most when the investment pays off. Which it has for the most part, and in spectacular fashion in the last 30 years or so. Think about it, the DOW was around 800 points 30 years ago, now it's around 12,000. That's a lot of wealth creation, and most of it went to the entrepeneurs and investors who risked their money to achieve the rewards.
It's not like everyone else deserves a bigger share of the increase in wealth; why should they, they invested nothing. It's not like that increase in wealth came at the expense of the 99%ers, who by the way did have the option to invest and grow their money too, at least in some cases. Or could have made better career choices, gotten more education or training, or done something to improve their value to employers.
The notion that economic inequality is holding back the economy is not true. Opportunities are there, but people aren't making the best choices. And gov't is not making the best choices either to foster competition and make sure the rules and regs are necessary and effective and followed. We don't need to spend trillions more on temporary jobs bills, we need to create a better business climate here.
A pretty good chunk of the income inequality is based on capital gains. Since the rich guys have the most money to invest, it stands to reason they will profit the most when the investment pays off. Which it has for the most part, and in spectacular fashion in the last 30 years or so. Think about it, the DOW was around 800 points 30 years ago, now it's around 12,000. That's a lot of wealth creation, and most of it went to the entrepeneurs and investors who risked their money to achieve the rewards.
It's not like everyone else deserves a bigger share of the increase in wealth; why should they, they invested nothing. It's not like that increase in wealth came at the expense of the 99%ers, who by the way did have the option to invest and grow their money too, at least in some cases. Or could have made better career choices, gotten more education or training, or done something to improve their value to employers.
The notion that economic inequality is holding back the economy is not true. Opportunities are there, but people aren't making the best choices. And gov't is not making the best choices either to foster competition and make sure the rules and regs are necessary and effective and followed. We don't need to spend trillions more on temporary jobs bills, we need to create a better business climate here.