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Sublime Peach





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  posted on 7/31/2009 at 09:03 AM


[Edited on 8/20/2009 by jerryphilbob]

 
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Zen Peach



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  posted on 7/31/2009 at 09:14 AM
The Wall Street Journal reported last week that "Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available.


 

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If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

Zen Peach



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  posted on 7/31/2009 at 09:22 AM
Wow... that progressive tax sure is sneaky!

 

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Missing- 245 spines. If found, please send one to 1600 Pennsylvania Ave and the rest to the Capitol building care of the Democratic Party.

 

World Class Peach



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  posted on 7/31/2009 at 09:26 AM
quote:
The Wall Street Journal reported last week that "Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available.





but they deserve it 'cause they provide jobs for all the rest of us poor working slobs

and certainly we would not want to do anything that would eliminate
the incentive to accomplish success like they have, right ???

I mean isn't that really why we all go to work, is to aspire to become
"stinking rich" (as Gregg once said)

 

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There ain't no Good Guy, There ain't no Bad Guy. There's only you and me and we just disagree

 

Sublime Peach



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  posted on 7/31/2009 at 09:28 AM
quote:
jpb is just jealous as hot tub salesman don't rank among the elite.


LOL. I am sure if you actually knew what I made in a year you wouldn't say that. You can denegrate my job all you want, but I am laughing all the way to the bank. We had a run this week from people that got money back from cash for clunkers. LOL.

 

Sublime Peach



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  posted on 7/31/2009 at 09:34 AM
I could easily still be living there, I chose not to. I prefer to have my money (francs and silver) and when the market bottoms, which it hasn't, I can get right back in. I am not trapped like most Americans. Your financial IQ is showing again? Better watch that.
 

Universal Peach



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  posted on 7/31/2009 at 09:34 AM
quote:
Wow... that progressive tax sure is sneaky!


Don't confuse him, Squatch, he's on a roll today.

 

Zen Peach



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  posted on 7/31/2009 at 09:43 AM
quote:
The Wall Street Journal reported last week that "Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available.




Jon, does the number of 'Highly Compensated' equal the 1.4 million/top 1% taxpayers jpb mentioned?

 

Zen Peach



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  posted on 7/31/2009 at 09:47 AM
quote:
quote:
The Wall Street Journal reported last week that "Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available.




Jon, does the number of 'Highly Compensated' equal the 1.4 million/top 1% taxpayers jpb mentioned?


These guys make a million a year look like chickenfeed.

 

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If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

Maximum Peach



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  posted on 7/31/2009 at 10:05 AM
Is there something wrong with being rich if your gain is not ill gotten? This whole rich=bad thing is a little old. While I work in finance, I sure as **** wasn't one of the folks that got an absurd bonus, but I have no problem with it as long as the people are profitable. Big Wall Street bonuses did NOT cause the economic meltdown. As I was listening to Traffic's Welcome to the Canteen last night, I realized their song Shouldn't Took More Than You Gave was quite appropriate in light of the economic mess!! Too many people overconsuming for crap they couldn't pay for. Wall Street bonuses are just a nice whipping boy for everyone.
 

Zen Peach



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  posted on 7/31/2009 at 10:06 AM
quote:
quote:
quote:
The Wall Street Journal reported last week that "Executives and other highly compensated employees now receive more than one-third of all pay in the US... Highly paid employees received nearly $2.1 trillion of the $6.4 trillion in total US pay in 2007, the latest figures available.




Jon, does the number of 'Highly Compensated' equal the 1.4 million/top 1% taxpayers jpb mentioned?


These guys make a million a year look like chickenfeed.


That's what I was figuring. I would bet the percentage of the overall salary they made wouldn't approach their portion of the collected taxes. Say they collected 1/3 of the total taxes from this group.

 

Zen Peach



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  posted on 7/31/2009 at 10:07 AM
quote:
Is there something wrong with being rich if your gain is not ill gotten? This whole rich=bad thing is a little old. While I work in finance, I sure as **** wasn't one of the folks that got an absurd bonus, but I have no problem with it as long as the people are profitable. Big Wall Street bonuses did NOT cause the economic meltdown. As I was listening to Traffic's Welcome to the Canteen last night, I realized their song Shouldn't Took More Than You Gave was quite appropriate in light of the economic mess!! Too many people overconsuming for crap they couldn't pay for. Wall Street bonuses are just a nice whipping boy for everyone.


Jim, there are always going to be people that resent people that make more money than they do. You can't change that, IMO.

 

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Zen Peach



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  posted on 7/31/2009 at 10:13 AM
quote:
Is there something wrong with being rich if your gain is not ill gotten? This whole rich=bad thing is a little old. While I work in finance, I sure as **** wasn't one of the folks that got an absurd bonus, but I have no problem with it as long as the people are profitable. Big Wall Street bonuses did NOT cause the economic meltdown. As I was listening to Traffic's Welcome to the Canteen last night, I realized their song Shouldn't Took More Than You Gave was quite appropriate in light of the economic mess!! Too many people overconsuming for crap they couldn't pay for. Wall Street bonuses are just a nice whipping boy for everyone.


I have no problem with people being rich, but to say that solely the bonuses aren't the reason we are in this recession is a little naive. Why were they given bonuses? Suspect real estate investments built on a bad foundation that while successful returned money. Then as soon as there was a crack in that bad foundation the whole thing collapsed.

And the best yet? While companies are reporting record losses they are still giving out those bonuses.

 

Ultimate Peach



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  posted on 7/31/2009 at 10:18 AM
They deserve to have their money disproportionately and forcibly taken by the government for their behavior? Yeah! Stick it to the Man. They are keeping me down!

New flash - the majority of millionaires in America are entreprenuers who started their own business. I am neither a millionaire or entreprenuer but plan on being both one day.

And just because the highest income earners make more doesn't mean that takes money from people below them on the pay scale. It pie isn't a predetermined size.

 

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Tim L.

 

Zen Peach



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  posted on 7/31/2009 at 10:22 AM
quote:
And just because the highest income earners make more doesn't mean that takes money from people below them on the pay scale.


A 1.7 billion dollar salary, or a 400 million dollar retirement bonus sure seems like some folks on the lower pay scale might have been denied a well deserved raise when they worked so hard for the man .

 

____________________
If we practice and eye for an eye and a tooth for a tooth, soon the whole world will be blind and toothless. -Mahatma Gandhi.

 

Zen Peach



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  posted on 7/31/2009 at 11:15 AM
quote:
quote:
jpb is just jealous as hot tub salesman don't rank among the elite.


LOL. I am sure if you actually knew what I made in a year you wouldn't say that. You can denegrate my job all you want, but I am laughing all the way to the bank. We had a run this week from people that got money back from cash for clunkers. LOL.
How long do these trips to the bank take you, what with all the cashing of checks and converting to francs that is going on? And how does that work for you at the grocery and the mall when you present the clerk with one of those while making your purchases?

 

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Maximum Peach



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  posted on 7/31/2009 at 11:37 AM
quote:
As a taxpayer, I have a problem with my tax money bailing out a company that is giving bonuses to the guys who helped cause the collapse. If a company is profitable I don't care what they pay. But don't tell me that you have to pay retention bonuses to people who bankrupted a company because of questionable business practices.


I understand that point as well. Although on the flipsdie of that, for example, some of the folks at AIG, who are there now had nothing to do with the meltdown at that company. People were brought in to unwind the big mess that others made. That beng said, AIG has to compensate these people to retain them. If you don't compensate the people cleaning up the mess, they will leave, and the tax payer will take it on the chin even more.

Oddly enough, I have been waiting for someone to post that the U.S. government made a 23% return supporting Goldman Sachs, the evil investment bank that controls the world. The government made a great deal of money off of this investment with our money. From an investment standpoint, this may have been the best use of taxpayer funds in the history of our country. Wonder what the government will do with that return they gained with our money, think they'll spread it around to us?

 

Zen Peach



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  posted on 7/31/2009 at 12:29 PM
quote:
According to the IRS, the top 1 percent of taxpayers paid over 40 percent of all federal income taxes in 2007.


One of these days they'll start paying their "fair share."

 

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Zen Peach



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  posted on 7/31/2009 at 12:45 PM
quote:
quote:
As a taxpayer, I have a problem with my tax money bailing out a company that is giving bonuses to the guys who helped cause the collapse. If a company is profitable I don't care what they pay. But don't tell me that you have to pay retention bonuses to people who bankrupted a company because of questionable business practices.


I understand that point as well. Although on the flipsdie of that, for example, some of the folks at AIG, who are there now had nothing to do with the meltdown at that company. People were brought in to unwind the big mess that others made. That beng said, AIG has to compensate these people to retain them. If you don't compensate the people cleaning up the mess, they will leave, and the tax payer will take it on the chin even more.

Oddly enough, I have been waiting for someone to post that the U.S. government made a 23% return supporting Goldman Sachs, the evil investment bank that controls the world. The government made a great deal of money off of this investment with our money. From an investment standpoint, this may have been the best use of taxpayer funds in the history of our country. Wonder what the government will do with that return they gained with our money, think they'll spread it around to us?




Yes, if you own a clunker.....

 

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Maximum Peach



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  posted on 7/31/2009 at 12:51 PM
quote:
Yes, if you own a clunker.....


Damn. We only have one car....not a clunker, but a gas guzzling SUV! Yeeehaw!!

 

True Peach



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  posted on 7/31/2009 at 01:28 PM
quote:
quote:
And just because the highest income earners make more doesn't mean that takes money from people below them on the pay scale.


A 1.7 billion dollar salary, or a 400 million dollar retirement bonus sure seems like some folks on the lower pay scale might have been denied a well deserved raise when they worked so hard for the man .


I'm with Jon on this. I worked many years for a large Fortune 500 company. It was amazing the personal ties the board of directors had between them and the CEO. The amount of stock options was staggering the very top execs got annually, not to mention the huge bonus's while the rest of 99.9% of the hard working folks got squat in return, except that they were happy to just have job.

 

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True Peach



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  posted on 7/31/2009 at 01:33 PM
quote:
quote:
jpb is just jealous as hot tub salesman don't rank among the elite.


LOL. I am sure if you actually knew what I made in a year you wouldn't say that. You can denegrate my job all you want, but I am laughing all the way to the bank. We had a run this week from people that got money back from cash for clunkers. LOL.


I guess I don't know how this cash for clunkers thing works. I was under the imperssion the car dealership would give around $100 for the scrap metal value of your qualifying trade-in clunker, but the $3500 or $4500 from the Govt. went straight to the dealership, and the sale amt of the new vehicle price would be reduced accordingly. No??

 

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Ultimate Peach



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  posted on 7/31/2009 at 04:33 PM
Let's agree there were some wild abuses on pay (stock options are different than salary). On a micro-level, I guess the money overpaid to the top hurt the workers below them. I happen to believe people focus on the abuses and not the real averages, but let's just say I'm wrong. Since most people in this country are employed by small businesses, it hasn't taken any income away from the typical worker. And if big companies paid that much less than small companies, they would have less talented work forces or not be able to retain employees.

Either way, it's wrong for a central government, that is supposed to be a Federal style government, to forcibly punish a class through tax policy. We'd ridicule another country for acting the same way.

The more people believe that someone else has ultimate control over how much they can earn, the less chance they have making more money.

 

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Tim L.

 

Maximum Peach



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  posted on 7/31/2009 at 06:26 PM
quote:
quote:
Is there something wrong with being rich if your gain is not ill gotten? This whole rich=bad thing is a little old. While I work in finance, I sure as **** wasn't one of the folks that got an absurd bonus, but I have no problem with it as long as the people are profitable. Big Wall Street bonuses did NOT cause the economic meltdown. As I was listening to Traffic's Welcome to the Canteen last night, I realized their song Shouldn't Took More Than You Gave was quite appropriate in light of the economic mess!! Too many people overconsuming for crap they couldn't pay for. Wall Street bonuses are just a nice whipping boy for everyone.
As a taxpayer, I have a problem with my tax money bailing out a company that is giving bonuses to the guys who helped cause the collapse. If a company is profitable I don't care what they pay. But don't tell me that you have to pay retention bonuses to people who bankrupted a company because of questionable business practices.
Do you know that the Federal government also pays retention bonuses to their employees designated as "key"?

These folks have a great health care program (one that the public will never see), don't participate in SS but have a fixed benefit pension program instead (something else disappearing fast for anyone working for a private firm), have health care in retirement, and get retention bonuses if so designated.

If the criticism is that a bailed-out non-profitable company that helped cause economic problems shouldn't have options to give bonuses, then I'd assume that should apply to govt as well. After all, they exist entirely on our dime and have certainly caused as much (more!) economic havoc than any private firm, right?

 

____________________
Obamacare: To insure the uninsured, we first make the insured
uninsured and then make them pay more to be insured again,
so the original uninsured can be insured for free.

 

A Peach Supreme



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  posted on 7/31/2009 at 06:32 PM
quote:
quote:
quote:
Is there something wrong with being rich if your gain is not ill gotten? This whole rich=bad thing is a little old. While I work in finance, I sure as **** wasn't one of the folks that got an absurd bonus, but I have no problem with it as long as the people are profitable. Big Wall Street bonuses did NOT cause the economic meltdown. As I was listening to Traffic's Welcome to the Canteen last night, I realized their song Shouldn't Took More Than You Gave was quite appropriate in light of the economic mess!! Too many people overconsuming for crap they couldn't pay for. Wall Street bonuses are just a nice whipping boy for everyone.
As a taxpayer, I have a problem with my tax money bailing out a company that is giving bonuses to the guys who helped cause the collapse. If a company is profitable I don't care what they pay. But don't tell me that you have to pay retention bonuses to people who bankrupted a company because of questionable business practices.
Do you know that the Federal government also pays retention bonuses to their employees designated as "key"?

These folks have a great health care program (one that the public will never see), don't participate in SS but have a fixed benefit pension program instead (something else disappearing fast for anyone working for a private firm), have health care in retirement, and get retention bonuses if so designated.




I good argument for Socialism. We could all work for the govt!

[Edited on 7/31/2009 by lespaul58]

 
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