What is the history of resentment for the wealthy?
Long story short, I come from an upper middle class background ($160,000 income, dad was the sole breadwinner) and I'm the only kid. I received a scholarship to a liberal arts college in Portland for a free ride (I played tennis) and the school was so, so left wing that the kids there seemed to harbor resentment for the wealthy. However, they majored in silly things without going onto get masters (if you want to get an MA in Art History and work in a museum, that's 100% cool, but no one got MA's after) and supported Bernie and hated anyone with an income above $60k. Coming from my background, I was around a lot of kids who had parents who were CFO's, Top lawyers etc. and I had nothing but admiration for these people (and I'm betting that they made around $300k as a household, husband and wife). It was aspirational. I'm wondering, though, why the general public and so many people are overcome with envy instead of a decent work ethic.
You clearly went to Reed. That is not close to the norm - go anywhere else in the country (especially states Trump won) and you will not feel so isolated.
it's been the case forever. if the bolsheviks had huffpo, reddit, and facebook, this wouldn't be thought of as a new phenomenon, it's just that the voices of the underclass are louder now.
if someone bitches about their circumstances and does nothing to change them, then fuck 'em. disassociate with those people and your life will improve. no need to be arrogant, but if someone resents you because of your W2, they're not worth keeping in your life.
Stop Bashing the Rich - Jamie Dimon (Originally Posted: 12/07/2011)
I fucking love this man.
http://video.cnbc.com/gallery/?video=3000061154
I would give one heck of a standing ovation if I was there in person.
I was just gonna post this.
I love JD
Too bad the most qualified people to run for public office also aren't stupid enough to do so.
Bravo, this is great. Sometimes I wonder about Dimon just because he has appeared with Obama so often, and worked so closely with the government during the crisis...but this really restores faith in him.
I have to wonder if he'll throw his support behind Romney in the election.
This is the guy who should be defending and representing the industry, not that Xerxes-looking John Thompson Financial schmuck.
This is what we need more of -- someone standing up and applauding America for what it has been and is. No one has proper national pride anymore. There is national pride, just too much of it comes from "Our military has a bigger dick than yours, who cares if we kill citizens, we have to police the world god dammit!" and not enough from an intellectual, earnest appreciation for the qualities of this country that have made it the leader of the free world for a century.
Brilliant quote: "Acting like everyone who is successful is bad, like if you're rich you're bad, I don't get it."
Amen.stud
Call me a skeptic but I think some very wealthy individuals desire to push this class warfare thing. I mean why does buffet want more taxes? This man is in love with money. I sense he would only benefit from increased taxes somehow.
Yes! Punish those who created wealth, entertainment, structure to society, and those people who worked their butts off, contribute their exceptional expertise and knowledge to the economy and society.
Politicians are fanning the flames of hate in society, creating their own agenda....sad
http://consumerist.com/2011/12/chase-ceo-wants-everyone-to-lay-off-on-h…
I love the difference in comments.
How do you find these sites really?
Well said though I think 'a few bad apples' is the portion that OWS would most vehemently disagree with.
I doubt he pays 50% of his income in tax. For starters, only 25% of his compensation is paid in cash...
The gist of his statement makes sense, but look at it this way: you have many failed companies, which simultaneously required taxpayer support and large scale layoffs to stay afloat, yet they are able to pay senior executives 8 digit salaries. For most companies, it's hard to argue that CEO salary reflects the actual value added, nor the salary demanded in a fair supply and demand labor market (in other words, there is a surplus of individuals willing and able to do the job at the current rates).
I don't think people are angry at the self made billionaire as much as the CEO who worked his/her way up to the position, ran the company into the ground, laid off thousands of lower level workers, and continued to pay him/herself a large bonus.
I imagine he does. Income doesn't include capital gains until they are realized. His compensation =! his income.
His income is likely salary + dividends. It's likely that tax could take around half of that amount.
popurls.com
Consumerist is a pretty big site also.
Commenters on CNBC are annoyingly ignorant. If you're going to pick one guy who's been running his bank right, it's JD, and people blast him anyway without any education on the matter.
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