by Novus » Wed 24 Nov 2010, 19:25:39
$this->bbcode_second_pass_quote('KingM', 'I')t's important to understand the orders of magnitude in wealth between the poorest and the richest.
Think of it this way. One hundred thousand Mexican laborers working forty hours a week hanging drywall worked two hundred million man hours at ten bucks an hour and made less in 2009 than James Simmons, head of the hedge fund Renaissance Technologies, who received 2.5 billion (2,500,000,000.00) in compensation last year.
What did he do? He extracted money in small percentages from lots of other people so they could invest their savings. For that, he was paid more than 100,000,000 laborers.
Where is the Taxed Enough Already (TEA) party on this? The fools often complain about the government taking all their tax money but they don't comprehend what is going on in the world around them. The American worker is over taxed but it is not the government that is taxing them. It is the rich billionaires on Wall St that are taxing them.
This scam happens because they are thinking in terms of money rather then in terms of labor production. They don't realize that their employer will often only pay them for a small fraction of what their labor is really worth and keep rest as profit. The small business owner often doesn't see this because they don't control the entire supply line and are often fleeced themselves before they start. I am talking about the big corporations and banks here that are able to fleece the entire system. How else can 1 man be worth more than 100 million laborers?
The pitch forks and torches need to be pointed at Wall St not Washington.