pocketfullofshells
Well-Known Member
No - I do not care about economic inequality. It is a meaningless arbitrary measure. Why are you worse off if a billionaire gets richer? If that same billionaire takes all his money and moves it overseas the measure of inequality would suddenly look a little more equitable - but has anything changed - is anyone any better off?
Let's take Exxon for example. That bastion of 'big greedy oil" that just expands on the backs of the poor people they exploit right? If only Exxon would do something to benefit the country and stop being so greedy just to make themselves "richer" right?
Let's slow down and examine reality. According to the American Petroleum Institute, private and public pension funds – managing assets on behalf of more than 60 million U.S. households in 145 million accounts – own nearly a third of all shares in U.S. oil and gas companies. Mutual funds and individual retirement plans account for nearly 40 percent more. So who benefits when Exxon succeeds? The odds are you do. You want to crusade for higher taxes and taking more from companies like Exxon - you need to be honest with yourself and recognize you are not crusading against billionaires - you are demanding what amounts to lower returns for over 145 million Americans via their retirement funds - all in the name of "fairness."
Take a look at what happens to nations with massive economicy inequality. see you you care then. Its normaly not good, and often bloody.
and yes, actually when 90% off new wealth goes to top 1 percent rather then the working class...that effects me. And yes it effects me when money thats being paid out to CEO's and stock holders, does not go back to the workers...Because 1 I am one of the workers, and 2 my income is dependent on the working class having enough money to spend, so I get commissions. I don't make most of my income off the super Rich .