I’m just confused. What does the 1% do with all of that money? Do they spend it on luxury homes and yachts? Do they altruistically give it away? Do they sit on it and let their coffers overflow? Or do they just light it on fire and laugh? I wish I knew what they did with it. It would be good to know.
Good question, because wouldn’t having money mean that you spend money, meaning that you’re spreading the money around “like manure” ( 😉 ) ? So… why isn’t it getting distributed? No idea..
I just watched Marie Antoinette, so I’m reminded of Versailles and all that luxury while people were starving in the streets. Definitely a far cry from what we have to deal with today (or is it?), but somehow those that are rich can spend oodles of money and it doesn’t make the poor richer. …..outsourcing…?
So I was curious about CEOs making 380x as much as the ‘average’ employee. I guessed average = 50,000, but that put their salary at 19,000,000. I looked up at this website http://www.aflcio.org/Corporate-Watch/CEO-Pay-and-the-99/Trends-in-CEO-Pay and their closer guess is a/b $1 million in salary, but then with bonuses/stocks/IRA jazz it comes to $12,000,000. So not to much cash as it is just stocks and savings plans. If they had to pay taxes it as a normal income, it would be 4,752,000 in FEDERAL Income taxes alone (down to $7,248,000). Not to mention State tax, Medicare(1.45%), and Social Security(6.2%) AND Unemployment taxes on top of the 39.6% I took off already.
So while CEOs do make a LOT of money…. please let us not think of stupid celebrities. I hear NO ONE going after them. What do they do for us as a society????? What about professional athletes who make $20+ MILLION! I think everyone avoids the topic of them because secretly they want to be them. But on the other hand… No one wants to be a CEO… so lets go after them.
Sorry for the rant, but my solution: each individual in this country needs to work hard to receive and use and increase their own education and use their God given talents. Don’t think it is possible… look at the Benjamin Carson story before you tell me people have it rough. He is black, came from a single parent home (his mom couldn’t even read) and rose to become one of the best brain surgeons ever. How did he do it? His MOTHER made him work hard on getting an education and using his brain.
PS: a person making $48,000 annual salary can expect to take home $28,800 after taxes (roughly 60%).
Fill in your details below or click an icon to log in:
You are commenting using your WordPress.com account. ( Log Out / Change )
You are commenting using your Twitter account. ( Log Out / Change )
You are commenting using your Facebook account. ( Log Out / Change )
You are commenting using your Google+ account. ( Log Out / Change )
Connecting to %s
Notify me of new comments via email.
Notify me of new posts via email.