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Old 07-09-2008, 05:10 PM   #51
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Why do the rich keep getting richer, and the middle class is stagnant? Because of market forces, or because of a system set up by the govt. that rewards the already rich?
it's due mostly to runaway CEO pay that's uncorrelated with performance. we're turning into a plutocracy.
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Old 07-09-2008, 05:12 PM   #52
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No. He's been living under a bridge since '84.
I have this nagging hunch that's not true.
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Old 07-09-2008, 05:12 PM   #53
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Simple. Compound interest. Assume a 3% across-the-board cost of living increase regardless of salary level.

2001: A makes $25K, B makes $250K; a difference of $225K
2020: A makes $45,150, B makes $451,500; a difference of $406,350

Furthermore, the rich have a better understanding of money management and more disposable income to invest in more aggressive portfolios that yield a higher rate of return.
that's a good point. Obama's new policies will encourage the middle class to save more. For example, many Joes currently don't take advantage of generous matching 401K plans that their companies offer. Under Obama, they will be signed on to those plans by default, and they can choose to opt out.
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Old 07-09-2008, 05:22 PM   #54
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it's due mostly to runaway CEO pay that's uncorrelated with performance. we're turning into a plutocracy.

You think the rich poor gap's increase is due to runaway CEO pay? Or do you mean that CEO pay represents the problem?
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Old 07-09-2008, 05:24 PM   #55
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Originally Posted by ChinoCoug View Post
that's a good point. Obama's new policies will encourage the middle class to save more. For example, many Joes currently don't take advantage of generous matching 401K plans that their companies offer. Under Obama, they will be signed on to those plans by default, and they can choose to opt out.

I suspect this isn't how you meant it, but I have always found the refernce by the rich to Joe lunch box or Joe six pack, etc., to be incredibly patronizing and offensive, to tell you the truth.
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Old 07-09-2008, 05:26 PM   #56
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it's due mostly to runaway CEO pay that's uncorrelated with performance. we're turning into a plutocracy.
Let's just tax all the CEOs then. That should fix it.
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Old 07-09-2008, 05:42 PM   #57
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Unfortunately, most of the poor are poor because of the sum of their life choices. Taxing the bejeezus out of the rich isn't going to alter that.
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Old 07-09-2008, 05:42 PM   #58
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The source is myself and my years of church service dealing with the poor.
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Old 07-09-2008, 05:48 PM   #59
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The source is myself and my years of church service dealing with the poor.
I had a feeling it would be a lousy source.
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Old 07-09-2008, 05:49 PM   #60
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I had a feeling it would be a lousy source.
And your source?
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