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alstry (< 20)

There is NO Virtue To Financial Wealth Anymore



July 26, 2011 – Comments (1)

Most of the wealthy (the top 10%) in America are Wealthy because of their financial assets including stock and bond holdings/401Ks/IRAs/etc.....

 In the past, the top 10% EARNED the right to be in the top 10%.......and there was virtue backing wealth (or the right to DISPROPORTIONATELY control the goods/services of the nation) 
today, the wealthy are wealthy because they got massive handouts/entitlements from WE THE PEOPLE/government.  Current estimates approach $27 trillion dollars(including loan guarantees and off balance sheet transactions)....or about $1 million dollars for each man, woman, and child in the top 10%. 

Most didn't get this it concentrated in the top 1% who got a lot more per capita.  This $27 trillion dollars rightfully belonged to government or WE THE PEOPLE....ALL the people equally and NOT JUST THE TOP 10%.

Yet Wall Street and Washington are cutting off credit to Main Street....and others in the top 10% are complaining and whining about relatively small entitlements given to the bottom half of WE THE PEOPLE.

If it wasn't for the BIGGEST entitlement payment in U.S. History...most of the "wealthy" would be in no better financial position then the current entitlement recipients they complain about.....

it would be interesting to see their perspective at that point.....

welcome to  where everyone gets fair and just entitlement payments....or NO ONE gets a payment.

1 Comments – Post Your Own

#1) On July 27, 2011 at 5:21 PM, totallyoblivious (< 20) wrote:

This is why I'm in favor of having a very large estate tax.  People who earn their wealth deserve the benefits of it.  The people who descend from someone who earned wealth 2+ generations later do not deserve to live a life of luxury without ever lifting a finger to benefit society.

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