Posted on 07/27/2021 11:38:56 AM PDT by grundle
A study by the National Bureau of Economic Research found successful entrepreneurs realize just 3 per cent of the value of what they produce, while consumers reap the rest, either directly through employment or by social benefit.
"If there is a CEO who creates value for shareholders and wealth for the economy, the value they create is so much greater than their compensation," said Sydney Finkelstein, author of "Superbosses" and a professor at the Tuck School of Business at Dartmouth College.
Given the blame directed at America's millionaire class for inequality, the U.S. economic meltdown and our slow recovery, Fox News spent a week analyzing the Forbes list of 400 wealthiest Americans. Admission to the list starts at a record $1.7 billion. In total, the top 400 created or controlled more than 10 million jobs across the country. The top 100 founded companies that employed, on average, 40,000 workers.
"These are people giving us jobs. To demonize them is to damage the underlying force of this country," said management consultant Eric Schiffer. "We are only as good as our people and we don't want to put our best players on another team. If you tax them, they will leave."
(Excerpt) Read more at foxnews.com ...
Dacha for me, gulag for you!
I have no problem with wealthy folks, would like to be one myself.
I do have a problem with the Oligarchs. A very big problem. Not because of their wealth, but because they take actions and are allowed to take actions indicating they are ruling this country and the rest of us are just serfs to be abused.
Any comp, FB etc that stops free speech should be destroyed!
Yep, them there CEOs are sooo valuable that even when theyâre fired, theyâre paid millions to leave. Seems fair to us working stiffs.
100%
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I want to live in a country with as many billionaires as possible, not one with none or a few.
There are more than a few “Millionaire’s Next Door” posting on FR...
Even some Decamillionaires...
What people like Ben is Sanders don’t get is if every millionaire and billionaire in the US gave up their $$ it would run the country for just a few days...if that.
So the whole tax the rich thing is basically stupid
When they are considering spending/giving away an additional $6trillion dollars this year, there is no will to ever pay off the national debt.
Thus it pays well to be connected to the crony government that thinks it has an additional $6trillion to disburse.
The Forbes 400 for 2020 had a net worth of $3.2 trillion. Divided by 330 million, that would be just under $9,697 per person in the US. Take it from them, give it to everyone else, then what?
I think it’s A OK for folks getting rich by innovating or improving present day production practices. What gets me is a lot of them are using plastic to design and produce goods that have design obsolescence built into them. Also the American companies that subcontract their production to China who takes high quality products and cheapens the manufacturing process which again make their goods have a shortened useful life.
The ZIP Codes That Rule America!:
BY: MICHAEL LIND, DECEMBER 16, 2020
The real divide isnât between red states and blue states or cities and rural areas.
Itâs between mega-rich political donors and everyone else.
In theory senators represent the citizens of their states and members of the House represent the people of their congressional districts. In practice they represent individual and corporate donors and political allies and future employers, who may live anywhere in the United Statesâor in some cases abroad. Joe Biden was the senator from the credit card industry, based in Delaware.
The donors to American politicians in all 50 states are concentrated in a few ZIP codes. According to Open Secrets, of the ZIP codes that delivered the most campaign funding for the Democrats in 2020, not counting dark money or soft money for liberal groups, four of the top five were in New York City (10024, 10023, 10022, 10011), followed by Chevy Chase, Maryland (20815), a suburb of Washington, D.C. Other top Democratic ZIPs this year were Silicon Valley (94301 and 94022) and Cambridge, Massachusetts (02138). New York City was also overrepresented among donors to the Republican Party, whose donor base is more geographically diverse, with a lot of money coming from Dallas, Atlanta, Las Vegas, and Palm Beach, Florida.
Most politicians follow the preferences of their donors, not their voters, when there is a conflict. âWho buys my bread, his song I sing,â as the old saying goes. Or, if you prefer another proverb: âThe Golden Rule is whoever has the gold rules.â
âWhen the preferences of economic elites and the stands of organized interest groups are controlled for, the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.â
Are we stuck with only 50 stars on Old Glory from now on? Except at the margins, it doesnât matter whether there are eight Californias or just one. Nor would it make much of a difference if D.C. or Puerto Rico became the 51st state. We can draw state borders however we like and add or subdivide states if we choose. But to the extent our influence is limited to voting, most of us are just renters in American politics. The donors, wherever they happen to live, own it.
https://www.tabletmag.com/sections/news/articles/the-zip-codes-that-rule-america
I do have a problem with the Oligarchs. A very big problem. Not because of their wealth, but because they take actions and are allowed to take actions indicating they are ruling this country and the rest of us are just serfs to be abused.
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