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Thread: The rich get richer and the poor get poorer.

  1. #51
    Senior Member Dutch's Avatar
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    The rich are also getting more liberal.

    source
    Seven of the Top Ten Wealthiest Members of Congress Are Democrats
    Yes America, there is a wealth gap. Seven of the top ten wealthiest members in Congress are Democrats.

    The results are based on a new study released today by the non-partisan Center for Responsive Politics. The Center did an analysis of the financial statements filed by members of Congress for 2010 income and net worth.

    This revelation of extreme wealth by Democratic politicians is completely contrary to the public image of the Democratic Party. President Obama has castigated “millionaires and billionaires,” suggesting they are evil people, largely Republican or conservative. The issue of the Democratic Party as the millionaire party has not yet made it into the mainstream media. But the facts are indisputable. Democratic members of Congress tend to be wealthier than their Republican counterparts.

    According to the Center, 36 Senate Democrats and 30 Senate Republicans reported an average net worth in excess of $1 million in 2010. The median estimated net worth among members of the Senate Democrats was $2.58 million. Senate Republican median net worth was $2.43 million.

    And, the wealthy Democrats tend to inherit their money. Republicans tend to earn it.........

  2. #52
    Sofa Can Coded! Sparta's Avatar
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    Quote Originally Posted by kmiller1610 View Post
    Government regulations on corporations are psycho. The ones we should be applying, like the anti-trust and competitive laws we have repealed or ignored. But we nanny our corporations with a mountain of shoulds and idiotic nanny-isms that seem to say, I am your momma.

    Stooopid.
    That's because the scale is tilted, government regulations do not exist to promote growth through competition, they exist as hurdles to eliminate competition.

  3. #53
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    Good thread, OP.

    It ain't a zero sum game, and it ain't a government concern in any event.

  4. #54
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    Quote Originally Posted by JayDubya View Post
    Good thread, OP.

    It ain't a zero sum game, and it ain't a government concern in any event.
    Oh? It's not the government's concern if federally insured banks are making high risk trades with investors' money?

    Unreal.

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    Quote Originally Posted by JayDubya View Post
    Good thread, OP.

    It ain't a zero sum game, and it ain't a government concern in any event.
    How is it not?

  6. #56
    Senior Member PapaBull's Avatar
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    Quote Originally Posted by TennesseeRain View Post
    How is it not?
    If wealth building was a zero sum game then that assumes there is a fixed amount of wealth and for one person's wealth to increase, others must decrease. If you don't understand how that cannot be possible, then try to explain how this country went from zero wealth to what we have today over the span of 400 years. Clearly, wealth is created and if it's created, it's not a zero sum game.

    If it's still unclear to you, think about it this way. The economy is a world of five people. One makes houses, one makes clothing, one makes food, one supplies water and one supplies fuel. Their products are exchanged for other products. We use an intermediary form called "money" but it's still essentially barter. You make food. The more food you make and store, the wealthier you are. It's your product. You trade for houses, clothing, water and fuel. The more each of those suppliers works to produce, the more they have to trade and the more EVERYONE produces, the more of those products (wealth) EVERYONE has through trade and self production.

    It's not a zero sum game. Not at all.

  7. #57
    My Posse TennesseeRain's Avatar
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    Quote Originally Posted by PapaBull View Post
    If wealth building was a zero sum game then that assumes there is a fixed amount of wealth and for one person's wealth to increase, others must decrease. If you don't understand how that cannot be possible, then try to explain how this country went from zero wealth to what we have today over the span of 400 years. Clearly, wealth is created and if it's created, it's not a zero sum game.

    If it's still unclear to you, think about it this way. The economy is a world of five people. One makes houses, one makes clothing, one makes food, one supplies water and one supplies fuel. Their products are exchanged for other products. We use an intermediary form called "money" but it's still essentially barter. You make food. The more food you make and store, the wealthier you are. It's your product. You trade for houses, clothing, water and fuel. The more each of those suppliers works to produce, the more they have to trade and the more EVERYONE produces, the more of those products (wealth) EVERYONE has through trade and self production.

    It's not a zero sum game. Not at all.
    How is it not the government's concern. jeezus.

  8. #58
    Senior Member PapaBull's Avatar
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    Quote Originally Posted by Sparta View Post
    Oh? It's not the government's concern if federally insured banks are making high risk trades with investors' money?

    Unreal.
    It absolutely is the government's concern, whether free market principles support this or not. The goverment is absolutely involved in laws to manage such things. That does not mean that the laws nor the system will be perfect and sometimes they're much less perfect than we should expect. It is, however, absurd to truly believe that the government laws are put in place to hinder the economy. While many of the onerous regulation put in place for the sake of EPA, OSHA, EOE, etc., combined with high corporate income taxes, which get taxed again as "dividends" upon distribution do, in fact, hinder the economy, that's not really why they are in place.

    Quote Originally Posted by Sparta View Post
    That's because the scale is tilted, government regulations do not exist to promote growth through competition, they exist as hurdles to eliminate competition.
    Per your previous post, if you can supply some examples of the laws put in place with an intent to hinder competition, please list a few of them because I think most people can't think of any laws put in place for that purpose. So help us out here with examples.

  9. #59
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    Quote Originally Posted by TennesseeRain View Post
    How is it not the government's concern. jeezus.
    I'm not following you. I explain how economics is not a zero sum game and you are saying "jezus... how is that not the government's concern". That's a classic non sequitur.

    Regulating interstate and international commerce is, indeed, the government's concern in black-letter law.

  10. #60
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    Quote Originally Posted by TennesseeRain View Post
    How is it not?
    How is equality of outcome not a government concern?

    Simple.

    Read the Constitution, identify the location of the federal power to redistribute wealth, and get back to me.

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