Rahm and his business

[Jim in CT]

Originally Posted by Pete F.

Here is part of what Warren Buffett said in a Time magazine article.
You think that saying Wealth inequality is an issue, makes it a personal moral choice. It's a societal moral choice which is obviously far too progressive for you, unlike Warren Buffett.
You think that with the US being in the top ten in GDP per capita, we cannot afford healthcare, education and infrastructure.
Now don't let the voices in your head misconstrue what I am saying as that I think uncontrolled spending will accomplish anything. We need a government that works for all the people, we don't have that.
We are getting left behind by the rest of the world inch by inch.


Let’s think again about 1930. Imagine someone then predicting that real per capita GDP would increase sixfold during my lifetime. My parents would have immediately dismissed such a gain as impossible. If somehow, though, they could have imagined it actually transpiring, they would concurrently have predicted something close to universal prosperity.

Instead, another invention of the ensuing decades, the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.


In 1776, America set off to unleash human potential by combining market economics, the rule of law and equality of opportunity. This foundation was an act of genius that in only 241 years converted our original villages and prairies into $96 trillion of wealth.

The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

In the years of growth that certainly lie ahead, I have no doubt that America can both deliver riches to many and a decent life to all. We must not settle for less.

You can read the whole thing here:
http://time.com/5087360/warren-buffe...th-in-america/

Is Warren Buffet's wealth accumulation, hurting anybody? If so, how?

One time, just one time, can you answer the question that I asked?

[Pete F.]

Originally Posted by Jim in CT

Is Warren Buffet's wealth accumulation, hurting anybody? If so, how?

One time, just one time, can you answer the question that I asked?

Read it yourself
the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.
The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

[Jim in CT]

Originally Posted by Pete F.

Read it yourself
the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.
The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

no one is denying that income inequality is getting worse. What I am asking, and I think you know this, is this...how is Warren Buffet's wealth accumulation CAUSING anyone else to fail to achieve their own dreams?

Just because two things are happening at the same time, doesn't mean one causes the other.

Tell me how Buffet's wealth is the cause of anyone else's poverty?

Pointing out how wealthy Buffet is, does not explain how he caused anyone else's poverty. I don't think you are this stupid, I think you cannot answer, but you aren't honest enough to admit I'm right.

Buffet's wealth might not be fair in light of how many poor people there are. But his wealth isn't causing anyone's poverty. He created that wealth, and as Spence said, he's sharing billions of it. This is a good thing, not the sinister thing you desperately want it to be. He created that wealth, he didn't steal it.

[Pete F.]

Originally Posted by Jim in CT

no one is denying that income inequality is getting worse. What I am asking, and I think you know this, is this...how is Warren Buffet's wealth accumulation CAUSING anyone else to fail to achieve their own dreams?

Just because two things are happening at the same time, doesn't mean one causes the other.

Tell me how Buffet's wealth is the cause of anyone else's poverty?

Pointing out how wealthy Buffet is, does not explain how he caused anyone else's poverty. I don't think you are this stupid, I think you cannot answer, but you aren't honest enough to admit I'm right.

Buffet's wealth might not be fair in light of how many poor people there are. But his wealth isn't causing anyone's poverty. He created that wealth, and as Spence said, he's sharing billions of it. This is a good thing, not the sinister thing you desperately want it to be. He created that wealth, he didn't steal it.

Where did I or anyone say that poverty is just a rich man's fault?

[Jim in CT]

Originally Posted by Pete F.

Where did I or anyone say that poverty is just a rich man's fault?

You just can't ever answer a direct question, can you?

Did Warren Buffet's accumulation of wealth, cause anyone else to be poor?

[Pete F.]

Originally Posted by Jim in CT

You just can't ever answer a direct question, can you?

Did Warren Buffet's accumulation of wealth, cause anyone else to be poor?

As a sole cause, likely not
Now tell me where I said poverty was wealthy peoples fault
Posted from my iPhone/Mobile device

[Jim in CT]

Originally Posted by Pete F.

Where did I or anyone say that poverty is just a rich man's fault?

And if you don't believe that one person's poverty is caused by another person's wealth, then why should we give a frog's fat azz about income inequality? What's the harm in rich people getting richer?

[Pete F.]

Originally Posted by Jim in CT

And if you don't believe that one person's poverty is caused by another person's wealth, then why should we give a frog's fat azz about income inequality? What's the harm in rich people getting richer?

the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.
The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

[Jim in CT]

Originally Posted by Pete F.

the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.
The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

curves paints a different picture from WHAT? i’m not denying income inequality exists. I am denying that it hurts anyone.

as to where youbsaid inenperaons wealth causes another’s poverty....youvare goung on and on about the wealthy and about income inequality. If you don’t think that one persons wealth causes another’s poverty, why do you bring up the wealthy? what point are you trying to make?
Posted from my iPhone/Mobile device

[spence]

Originally Posted by Pete F.

the Forbes 400, paints a far different picture. Between the first computation in 1982 and today, the wealth of the 400 increased 29-fold–from $93 billion to $2.7 trillion–while many millions of hardworking citizens remained stuck on an economic treadmill. During this period, the tsunami of wealth didn’t trickle down. It surged upward.
The market system, however, has also left many people hopelessly behind, particularly as it has become ever more specialized. These devastating side effects can be ameliorated: a rich family takes care of all its children, not just those with talents valued by the marketplace.

There are many factors that have contributed to all of this but the real question is if trickle down doesn't work, why do so many still think it's good policy?