Quote:
Originally Posted by Jim in CT
WDMSO, Pete has been on a rampage lately against income inequality, but here you are defending the obamas right to become
billionaires.
Can we establish some consistent rules in when it’s ok to be wealthy, and when it’s not? It seems to me, that it’s totally fine for liberals to be wealthy, but sinister when anyone else gets wealthy. Is that what the rule
is?
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My rampage as you call it and one in which I have some very wealthy compatriots, has not been about Income inequality, but about Wealth inequality. They are different. And Wealth inequality has grown in the last 30 years, but like Global warming some choose not to believe in it.
Here's a simple example and why as an old Wealthy man told me once: "Never touch the principal"
Joe and Sam both have an income of $25,000 per year. But Joe has a net worth of $1 million, and Sam has a net worth of $0. Here we have no income inequality, and yet Joe flourishes, while Sam struggles to survive. This is a very simple illustration of why wealth is what really matters, rather than income.
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