NYC: More unequal than Brazil
POSTED BY: canttakesky
UPDATED: Saturday, May 31, 2025 19:27
VIEWED: 6448
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Throwing this out just to start a catfight.
http://lbo-news.com/2011/12/12/nyc-more-unequal-than-brazil/
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Income isn't 'distributed'. It's earned. 
"The world is a dangerous place. Not because of the people who are evil; but because of the people who don't do anything about it." - Albert Einstein
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Like George Soros "earned" his income?
The rules of the game are rapidly driving us towards a third-world economy. But, hey... let's shovel MORE money to the rich! After all, they are the "job creators", right? 
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If I pick 9 out of 10 winners, be it at the tracks, in Vegas, or in the stock market, and I'm not cheating while doing it, as much as you might not like it, yeah...it's " earned ".
Point is, there is no great dealer, spreading out monopoly money, so everyone has their fair share. It'd be scary if that were the case, but sadly, many are still thinking like children, and believe life should be like a board game, where everyone wins.
"The world is a dangerous place. Not because of the people who are evil; but because of the people who don't do anything about it." - Albert Einstein
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No, that's not "earned" because nothing of worth was produced. It's called "gambling" or "speculation". There are reasons why we create different words to describe different activities. What you're really trying to say is that it is "legal", even if it IS gambling or speculation. And I'm saying "change the law". But it's sweet that you defend Soros, 'cause I just know how much you love the guy!
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It's not passed down, from upon high, and the 'gambler' is staking their own money , with the belief they can get a worth while return.
So, why change the law ? If there's no insider trading going on,( as we see w/ Congress, it seems ) then who the hell are you to say how anyone makes their money ?
And yes, even though I despise Soros, I'll defend his freedom to make what ever money he can. Don't agree with what he does with it, but that's a different matter.
"The world is a dangerous place. Not because of the people who are evil; but because of the people who don't do anything about it." - Albert Einstein
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Quote:Wow, are you as naive as you sound? Do you really think that Buffet, Soros, Goldman Sachs et al play with their own money?
and the 'gambler' is staking their own money
Really????
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At some point, they had to, yes. How is that so hard for you to get ?
"The world is a dangerous place. Not because of the people who are evil; but because of the people who don't do anything about it." - Albert Einstein
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Actually, he played with other people's money
Quote:Funny thing is, all I did was start to google "Where did Soros ge..." and google even finished it for me "...t his money". Clearly, I am not the first person to ever ask that question!
Soros realized, however, that he would not make any money from the concept of reflexivity until he went into investing on his own. He began to investigate how to deal in investments. From 1963 to 1973, he worked at Arnhold and S. Bleichroder, where he attained the position of Vice-President. Soros finally concluded that he was a better investor than he was a philosopher or an executive. In 1967, he persuaded the company to set up First Eagle, an offshore investment fund for him to run; and, in 1969, it founded the Double Eagle hedge fund for him.
Unfortunately, asking questions seems to be beyond you. Pity.
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Quote:
Originally posted by AURaptor:
Income isn't 'distributed'. It's earned.
Of course income may be earned. That really isn't the point. The article serves to highlight the disparity between the top earners and the lowest earners. The figures for NYC represent exactly what the OWS are complaining about, that the gap between rich and poor is astonishingly high.
The income of the top 10% of New Yorkers is 582 times that of the poorest 10%. In Brazil, that ratio is 35 times.
Therefore NYC, and probably much of the US is a place where there is a huge difference between the rich and the poor. The rich are sickeningly wealthy and the poor are shockingly poor. You see these sort of differences in developing countries, particularly where there is a lot of corruption.
So the question is, would you be happy living in a society where there is a huge, insurmountable gap between the richest and the poorest, or would you rather there be less of a gap. I know what I prefer.
When I was growing up, people who ran companies, CEO's, company directors, bank managers...they earned a good living. They were well off people. They probably earned about 10 times the salary of the lowest earner in their organisation. Now, they could earn 300 times. I preferred the old ways, cause personally I don't reckon these people are worth the money they receive.
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