America's wealth gap 'unsustainable,' may worsen: Harvard study

[Hayabusa Rider]

Sorry, but it is time for another job. I don't believe the job market is THAT bad but obviously I'm not familiar with the job market in your field (pharmacy, right?). There is no reason at all to stay in job like that.

Egads, I had a whole wall of text on that and the larger topic with an analysis and potential approaches and the token expired.

Heh, doesn't matter I suppose.

 

[IndyColtsFan]

Egads, I had a whole wall of text on that and the larger topic with an analysis and potential approaches and the token expired.

Heh, doesn't matter I suppose.

It boils down to this: your life is worth far more than your job. When you're on your death bed, you won't say "Crap, I wish I would've worked even more hours." You're going to say "Crap, why did I stay at a job for years on end that made me miserable, probably impacted my family, and likely took years of my life in the process?"

If you can't find another job in your area, consider moving. Seriously. I don't know how the job market is in your field, but I was fed up at my last job just last year and I had 3 offers within a couple of weeks and gave my former employer a big FU.

 

[Hayabusa Rider]

It boils down to this: your life is worth far more than your job. When you're on your death bed, you won't say "Crap, I wish I would've worked even more hours." You're going to say "Crap, why did I stay at a job for years on end that made me miserable, probably impacted my family, and likely took years of my life in the process?"

If you can't find another job in your area, consider moving. Seriously. I don't know how the job market is in your field, but I was fed up at my last job just last year and I had 3 offers within a couple of weeks and gave my former employer a big FU.

With a family packing up and moving isn't that easy but there are some possibilities on the horizon. Anyway, I was venting. Some days are better than others and I gave into temptation

While it was a bitching moment it wasn't off the thread topic. Expect more, not less of what I'm seeing.

We need change a lot of things. Stupid taxation of the execs is just that. Government isn't going to make things better for those who work. We aren't going to get a supplemental check from them and even if we did there isn't enough income which can be taxed to make a difference.

Shaping the tax and boardroom structures could have a big effect as well as having a greater say in elections by members with fewer shares. Some mechanism to allow voter participation by those who put their money things like 401ks would influence corporate thinking, or at least would create a possibility of real accountability. Tons of other stuff, but I'm not spending another half hour on it. Kill NAFTA and replace it with something more favorable.

As far as labor goes, other markets will always be cheaper because they do not have the standard of living we do. If they had there would be no resources left. Consequently I believe a policy which encourages a return to an economy not so heavily supported by service industries are necessary are needed. A reform of mechanisms to increase board room accountability to a greater number of shareholders, who tend to live in this realm, not those of Romney or Soros or any other billionaire. Real and substantial tax cuts to those who return vital infrastructure to the US, like fabs. The same for companies who do not outsource. A stick for those who do so, coupled with accountability from the "peasant" stockholders would hold corporations more accountable. A system of tariffs which are based on the market as it changes, brought in gradually so not to completely throw off markets. In the meantime we end private exploitation of public lands for energy production. From this moment production is leased out to bidders on a cost plus fee basis, and ALL energy so produced is dumped into our market at that plus a percentage to create new energy sources which do not rely whatsoever on foreign nations. That technology is licensed domestically at no charge. It cannot be hidden by IP. I cannot be held hostage. Foreign nations we are favorably disposed to pay a fee. Other nations more. Any company who deals with a foreign nation or representative shall be considered to have committed treason, with the maximum penalty as a result. If a Company is a person, then their boards shall be considered the head of that body, and if it's cut off so be it. Yes, rather draconian.

In this way we bring back jobs, eliminate dependence on foreign nations, become a leader in a very important field, hold corporations to a higher standard, force backwards elements in the ME who fund their terror to modernize their thinking. Their oil buys them neither prosperity nor power nor impunity. They must come forward and accept peaceful ways or starve. They will pick the latter, though not easily.

A tidbit I posted some time ago on a different topic, its something besides the status quo to consider, a starting point if you will.

 

[Brainonska511]

My job is harder and I haven't had a raise in 5 years. The bonus system was changed by the company so only the top couple tiers can get them and they aren't based on sales but on reducing controllable expenses, namely payroll. That means in those 5 years staffing has been cut to about a third. But of course things aren't going right so they are coming up with new programs to make customers happier and when they don't work they don't give raises because we're bad employees. Three of us died in our region last year while working. Some of us have a change of clothing in case they don't make it to the bathroom in time. We're legally entitled to a lunch, but to take it means complaints and complaints mean termination and the state really doesn't care. People are literally being worked to death and the market means you aren't going to get a job elsewhere. I'm sure my situation is not unique.

Now what part of that seems like "seem" to you?

Maybe you should unionize.

 

[jhbball]

It sounds like it would be bad to name who you work for, but what do you do for a living? What it sounds like what is happening to you are is not the norm.

It's not the norm. It's the democrats!

 

[Hayabusa Rider]

Maybe you should unionize.

That thought has crossed my mind.

I probably shouldn't have posted that anyway. I generally dislike complaining because there are always those who have things way worse and it doesn't fix anything. "Poor me" posts- I try not to do that too often

 

[glenn1]

Originally Posted by poofyhairguy
When we see unemployment in the 20s or 30s. So not for a while.

More and more are realizing just that and no longer working.

The numbers to pick up pitchforks is growing everyday and as you see many of the 1%ers are realizing it.

Kinda sad that healthy ambition to work hard and get ahead in guys like Dave has given way to power fantasies of riot and killing the rich. With progressive encouraging him, as if they wouldn't be the first to get lynched.

 

[Hayabusa Rider]

Kinda sad that healthy ambition to work hard and get ahead in guys like Dave has given way to power fantasies of riot and killing the rich. With progressive encouraging him, as if they wouldn't be the first to get lynched.

I think Dave is obsessed with getting even. On the other hand I see no need to further human predation based on a system which is nothing more than a complex cronyism. When we had all these problems with Goldman-Sachs and other institutions which screwed us over, the Canadians were doing much better with their system handled by those earning far less. We pay more and get less, much much less. Boardrooms are not a meritocracy. They are insular and unresponsive, but they do take care of their own. I'd like to see a rational explanation otherwise for the Coca-Cola bonus debacle many years ago. Shareholders were promised that if certain goals weren't met bonuses weren't happening. When the time came those in control changed the metrics to assure that they did get their money. They didn't "have ambition and work hard", they changed the rules because they could. This isn't a meritocracy, this is Darwin. We keep animals from eating us, but we're supposed to support being economically fed upon by the sharks at the top?

Nope.

 

[jhbball]

Kinda sad that healthy ambition to work hard and get ahead in guys like Dave has given way to power fantasies of riot and killing the rich. With progressive encouraging him, as if they wouldn't be the first to get lynched.

Kind of sad that dimwitted conservatives only attribute success to "healthy ambition to work hard and get head".

 

[IndyColtsFan]

I think Dave is obsessed with getting even. On the other hand I see no need to further human predation based on a system which is nothing more than a complex cronyism. When we had all these problems with Goldman-Sachs and other institutions which screwed us over, the Canadians were doing much better with their system handled by those earning far less. We pay more and get less, much much less. Boardrooms are not a meritocracy. They are insular and unresponsive, but they do take care of their own. I'd like to see a rational explanation otherwise for the Coca-Cola bonus debacle many years ago. Shareholders were promised that if certain goals weren't met bonuses weren't happening. When the time came those in control changed the metrics to assure that they did get their money. They didn't "have ambition and work hard", they changed the rules because they could. This isn't a meritocracy, this is Darwin. We keep animals from eating us, but we're supposed to support being economically fed upon by the sharks at the top?

Nope.

Agreed.

If a company is doing well, I don't care if execs get bonuses BUT everyone should share in the wealth -- you know, the ones who actually do the work too. And by "doing well," I'm not talking about cutting costs and people in order to meet targets either.

People can continue bleating on about "hard work" getting you to the top, but that isn't necessarily true and as someone who has dealt with C-level executives, I'm often shocked at how clueless they are sometimes. Providing "direction" like "Let's build a web site and sell things online" and then leaving all the considerable details to their underlings while they collect huge bonuses for their "vision" is one example.

I've seen dimwitted fools who could barely do their job promoted ahead of rock stars because their only skill seemed to be sucking up. Unfortunately, I think that is closer to the norm rather than the exception.

EDIT: Oops, almost forgot -- ignore Dave. He is a fool.

 

[BoberFett]

*waves magic hand*
Everything is great, be grateful you have a job. Unsustainable wealth gaps are what you need. Trickle down works.

You're talking about the wealth gap between the average American and billions of truly poor people in the world, right?

American: "That rich guy has a yacht! THAT'S NOT FAIR!!! GIVE ME MORE MONEY"

Actual Poor Person: "Can I have a bowl of rice?"

 

[BoberFett]

Another silly misdirection, you are somehow under the very naive impression that the debt is somehow meant to be paid off. Hey it sound like a scary big number but trust me it'll get bigger. The first time I saw Ross Perot point out our billion dollar debt I thought the sky was going to fall. We are a debt base economy. It is mathematically impossible to ever pay off the national debt since the day we got off the gold standard. We sustain the debt by printing more money, and the problem the OP pointed out is that while new greens get printed, it floats to the upper .1% of the swimming pool.

Clearly then the answer is to print EVEN MORE! That'll fix it!

 

[bshole]

They didn't "have ambition and work hard", they changed the rules because they could. This isn't a meritocracy, this is Darwin. We keep animals from eating us, but we're supposed to support being economically fed upon by the sharks at the top?

So Glenn, rebutt if you can.....

 

[BoberFett]

I doubt there will be outrage at that point. We'll all be stuffing ourselves with cake!

Americans are doing that already. It's not going to be much of a revolution. Storming the government buildings and the board rooms? No, more like waddling to the vending machine.

 

[dmcowen674]

Originally Posted by glenn1
Kinda sad that healthy ambition to work hard and get ahead in guys like Dave has given way to power fantasies of riot and killing the rich. With progressive encouraging him, as if they wouldn't be the first to get lynched.

I think Dave is obsessed with getting even.

If I was getting "even" I would be on the other side of the fence.

Nope firmly on the same side as Motorcycle rider.

Just modern version of yelling out "The British are coming!"

 

[BoberFett]

Kind of sad that dimwitted conservatives only attribute success to "healthy ambition to work hard and get head".

Kind of sad that dimwitted liberals only attribute success to luck.

 

[trenchfoot]

Kind of sad that dimwitted conservatives only attribute success to "healthy ambition to work hard and get head".

Part of the "I got mine.....and most of yours too" culture. Actually, that category can be split in half: First, the ones that actually do "have theirs and most of yours" and secondly, the ones that don't have any of it but have been propagandized to believe, incredibly so, that it's perfectly OK for the first half to have "theirs and most of yours" simply because the second half believe and have faith that somehow, it's good for everyone to let the "Have most of yours" folks actually "HAVE most of yours too".

Pretty neat trick where the "Have most of yours too" folks will allow the others to have just enough subsistence resources to keep from rebelling against them.

And I'd still like to know from the proponents of the "Have theirs and most of yours too" class how they can keep on getting more and more $$$ from the system and not crash the economy, yet somehow insist that if the "have nots" somehow manage to get a little more (like a minimum wage increase) the economy will horrifically crash for sure.

 

[dmcowen674]

Speaking of Brits.

I doubt any of our resident 1%ers would re-patriate to England but the rich have lost their option to keep their U.S. passport.

To do so would cost them money and heaven forbid they support the U.S. so they are out of here which is a good thing anyway.

So how many on here will be saying goodbye to their U.S. passport?

9-10-2014

http://finance.yahoo.com/news/tough-tax-rules-see-expats-ditch-us-passports-102239667.html

Tough tax rules see expats ditch US passports



Expatriate Americans are renouncing U.S. citizenship in record volumes because of increasingly onerous tax-filing requirements-and the number doing so is likely to continue rising.


The majority of expats are based in Europe, but growing numbers live in the Asian financial hubs of Tokyo, Singapore and Hong Kong.



These émigrés have been swept up in a government crackdown on tax evasion, following well-publicized investigations into Swiss banks like UBS and Credit Suisse that are alleged to have helped Americans conceal money abroad.



In the first six months of 2014, 1,577 Americans expatriated their citizenship, according to data from the IRS- the U.S. tax authority.


Last year as whole, 2,999 Americans officially cut their ties to the U.S.-over three times more than in 2012 and far above a previous record of 1,781 in 2011.

Renouncing U.S. citizenship is neither easy nor cheap however. Citizens must undergo at least two intensive interviews with consular officers and renunciation is subject to final approval by lawmakers in Washington.


Would-be expatriates must also pay both a fee and an "exit tax", although the latter only applies to those who meet a minimum income or net worth threshold, or have failed to comply with federal tax obligations.


This month, the fee for renunciation will rise five-fold to $2,350. Justifying the increase, the Department of State noted that demand for expatriation had increased "dramatically" since a fee of $450 was set in 2010.

U.K. expats may also soon feel the long arm of the taxman. Last month, the British government launched a consultation on whether non-residents should cease to benefit from the £10,000 ($16,100) tax-free allowance which all Britons are currently guaranteed.

 

[jhbball]

Kind of sad that dimwitted liberals only attribute success to luck.

Nah, we just understand it's a mixture of both. Thinking is hard.

 

[fleshconsumed]

I always love the word "unsustainable". Suggesting the situation will reverse itself naturally. But there's almost never a time frame given. Are we talking five years? Ten? Twenty? Fifty?

Yes, that was quite funny. Unsustainable, but unlikely to reverse any time soon. Things staying the way they are is the definition of being sustainable, so by that definition the inequality that we have right now is perfectly sustainable. Eh... :\

 

[Hayabusa Rider]

Expatriate Americans are renouncing U.S. citizenship in record volumes because of increasingly onerous tax-filing requirements-and the number doing so is likely to continue rising.

I'm not sure you understand this isn't a 1% problem. I know people who have relocated to other nations for various reasons and being rich isn't one of the.

For many nations you pay tax where you earn the income. If you are in country X but are a resident of Y then you pay X. Why not? You are benefiting from working there, but with the US it's different. You pay X AND the US even though you aren't doing anything having to do with the US. It's a citizenship tax, nothing more. For those who aren't wealthy it makes sense to ditch it or else have it eat your earnings into oblivion.

If anyone knows otherwise I'd be glad to hear it, but that's what I'm being told.

 

[bshole]

Kind of sad that dimwitted liberals only attribute success to luck.

I attibute it to malice, black-heartedness and criminality.

It's kind of sick that you define pillaging and gutting of the middle class and America as "success".

We need a return to the 90% tax on the wealthy. America's greatest propserity occurred while under that tax rate.

 

[glenn1]

Kind of sad that dimwitted conservatives only attribute success to "healthy ambition to work hard and get head".

Does "necessary but not sufficient" ring a bell? No one thinks that ambition and work ethic are a guarantee of success, only that they are required to obtain success and Dave most emphatically has none of the 3. My entire point was that Dave and people like him have abandoned any pretense of being anything but the "disgruntled former employee" who threatens riots because they hate the rich. And stupid progressives and populists are encouraging him because they think it somehow politically benefits them.

So Glenn, rebutt if you can.....

What am I rebutting, a fragment of a larger post that concerns supposed executive misconduct? Do you think that Coca Cola just picked random people to fill those positions, or that the execs had rigorous education and many years of prior managment experience? If the later, do you think those executives achieved those by sheer dumb luck or because of ambition and work ethic? How in the hell is that anything at all like Dave's situation, whose only hard work in life consists of posting the first response to his own threads?

 

[bshole]

How in the hell is that anything at all like Dave's situation, whose only hard work in life consists of posting the first response to his own threads?

Not gonna comment other than to say that was an uproariously funny putdown. LOL....

 

[jackstar7]

Americans are doing that already. It's not going to be much of a revolution. Storming the government buildings and the board rooms? No, more like waddling to the vending machine.

Come up with your own jokes. Don't regurgitate mine.