Comments on: The Myth of the Evil Rich: I’ll Believe in Winged Steeds First! http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/ Pappas on Taxation Thu, 09 Feb 2012 04:09:25 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Peter http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-5693 Peter Mon, 31 May 2010 12:31:30 +0000 http://blog.pappastax.com/?p=6132#comment-5693 John, I'll cut your "grass" for free, John... if you let me sell it by the pound. John,

I’ll cut your “grass” for free, John… if you let me sell it by the pound.

]]> By: John http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-5691 John Mon, 31 May 2010 07:11:58 +0000 http://blog.pappastax.com/?p=6132#comment-5691 Peter, do you still cut grass? My lawn is in need of a hard worker. I'll pay BIG money. :) Peter, do you still cut grass? My lawn is in need of a hard worker. I’ll pay BIG money. :)

]]> By: Peter http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-4458 Peter Sun, 21 Feb 2010 21:37:19 +0000 http://blog.pappastax.com/?p=6132#comment-4458 GD, It is certainly no revelation that workers help employers make money. But if a worker voluntarily agrees to a compensation package, by definition he is not being exploited by his employer. In fact, the exploitation might be working the other way around: The employee - by slacking off, stealing or outright sabotage - may be exploiting his employer. In any case, if the rich are resourceful enough to be able to leverage their capital and labor into profits, they <em>deserve</em> to make money. And nothing (except maybe resourcefulness and will power) is stopping others from doing the same. I say start your own business and create a few jobs. I bet you, too, would pay your employees more than you pay yourself. By the way, I am grateful to everyone who ever gave me a job, and that includes the "menial" jobs I had in my late teens and early twenties: Namely, shoe salesman, ice cream factory dock worker (20 below zero in the freezer), and land clearing and landscaping. Nobody <em>forced</em> me to work for those companies and I knew all along that my labor helped the owners make money. I was proud to do it. GD,

It is certainly no revelation that workers help employers make money. But if a worker voluntarily agrees to a compensation package, by definition he is not being exploited by his employer. In fact, the exploitation might be working the other way around: The employee – by slacking off, stealing or outright sabotage – may be exploiting his employer.

In any case, if the rich are resourceful enough to be able to leverage their capital and labor into profits, they deserve to make money.

And nothing (except maybe resourcefulness and will power) is stopping others from doing the same. I say start your own business and create a few jobs. I bet you, too, would pay your employees more than you pay yourself.

By the way, I am grateful to everyone who ever gave me a job, and that includes the “menial” jobs I had in my late teens and early twenties: Namely, shoe salesman, ice cream factory dock worker (20 below zero in the freezer), and land clearing and landscaping.

Nobody forced me to work for those companies and I knew all along that my labor helped the owners make money. I was proud to do it.

]]> By: GD http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-4453 GD Sun, 21 Feb 2010 14:20:04 +0000 http://blog.pappastax.com/?p=6132#comment-4453 I do not hate the rich. I also do not believe in big government. I believe in trade tariffs and higher wages to ensure that the West does not free-market itself out of economic relevance. My quibble is how rich does anyone really want to be and how willing is anyone who is rich to admit other people got them there. It just strikes me that there are a lot inconsistencies in current economic thinking. Like, say, the fact Western countries have laws against things like child labour and set minimum wages, yet export work to countries with non of those things. How for instance can people reconcile capitalism and a belief in democracy with exporting manufacturing jobs to China. What happened to the notion that the rich had a duty to the countries and work-forces that supported them? And actually, although I can't say it was my company, I did once have a job recruiting people for manual temp work and to be honest it always struck me as weird that companies were willing to pay double or more the hourly rate simply to avoid having a more protected set of employees. I think a more stable approach to employment, higher wages and the acceptance of lower profit margins would actually make economies stronger. The first countries out of the recent recession were the ones with better general standards of living, better job protection and less reliance on the abstract notions of wealth that comes with over reliance on the financial market. This was Germany and France not the US or the UK. I'm sorry, but its a fact the rich would not be rich if people were not working for them. I do not hate the rich. I also do not believe in big government. I believe in trade tariffs and higher wages to ensure that the West does not free-market itself out of economic relevance. My quibble is how rich does anyone really want to be and how willing is anyone who is rich to admit other people got them there. It just strikes me that there are a lot inconsistencies in current economic thinking. Like, say, the fact Western countries have laws against things like child labour and set minimum wages, yet export work to countries with non of those things. How for instance can people reconcile capitalism and a belief in democracy with exporting manufacturing jobs to China. What happened to the notion that the rich had a duty to the countries and work-forces that supported them?
And actually, although I can’t say it was my company, I did once have a job recruiting people for manual temp work and to be honest it always struck me as weird that companies were willing to pay double or more the hourly rate simply to avoid having a more protected set of employees. I think a more stable approach to employment, higher wages and the acceptance of lower profit margins would actually make economies stronger. The first countries out of the recent recession were the ones with better general standards of living, better job protection and less reliance on the abstract notions of wealth that comes with over reliance on the financial market. This was Germany and France not the US or the UK.
I’m sorry, but its a fact the rich would not be rich if people were not working for them.

]]> By: Peter http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-4447 Peter Sun, 21 Feb 2010 10:56:00 +0000 http://blog.pappastax.com/?p=6132#comment-4447 GD, I once read that the definition of hypocrisy is hating most what you want most. Hatred of the rich falls firmly within the bounds of that definition because <em>everyone</em> wants to be rich. And when the rich-haters themselves get rich? Voila, they don't hate the rich anymore. Incidentally, it always amuses me when I hear people who have never employed another person in their entire lives criticize those who have employed thousands for not paying them <em>enough</em>. The lowest possible "wage" is zero! GD,

I once read that the definition of hypocrisy is hating most what you want most. Hatred of the rich falls firmly within the bounds of that definition because everyone wants to be rich.

And when the rich-haters themselves get rich? Voila, they don’t hate the rich anymore.

Incidentally, it always amuses me when I hear people who have never employed another person in their entire lives criticize those who have employed thousands for not paying them enough.

The lowest possible “wage” is zero!

]]> By: GD http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-4441 GD Sat, 20 Feb 2010 13:59:28 +0000 http://blog.pappastax.com/?p=6132#comment-4441 The rich get rich off other peoples backs. How rich would they be if they did not have political/social systems that forced people to work for them. This is why the labour market shifts to the countries with the lowest wages. The market does not like paying people properly. As for the idea that the rich are getting soaked. The people who get soaked are the people working for low-wages to keep the rich rich. Unless of course you think that in the absence of a coerced work force heads of clothes companies, supermarkets and electronic firms would be capable of churning out product at a rate viable enough to earn multi billions. The rich get rich off other peoples backs. How rich would they be if they did not have political/social systems that forced people to work for them. This is why the labour market shifts to the countries with the lowest wages. The market does not like paying people properly.
As for the idea that the rich are getting soaked. The people who get soaked are the people working for low-wages to keep the rich rich. Unless of course you think that in the absence of a coerced work force heads of clothes companies, supermarkets and electronic firms would be capable of churning out product at a rate viable enough to earn multi billions.

]]> By: Why it’s Bad to Soak the Rich http://www.pappasontaxes.com/index.php/2009/06/24/the-myth-of-the-evil-rich-and-the-noble-poor/comment-page-1/#comment-3384 Why it’s Bad to Soak the Rich Mon, 23 Nov 2009 14:33:19 +0000 http://blog.pappastax.com/?p=6132#comment-3384 [...] The Myth of the Evil Rich: I’ll Believe in Winged Steeds First! [...] [...] The Myth of the Evil Rich: I’ll Believe in Winged Steeds First! [...]

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