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How Super Rich Left Rest Of Us Behind


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Too true. The ultimate endgame is revolution and/or economic collapse. As Sir Marty Sorrell pointed out in Davos, the last time we saw inequality on this scale was in, you guessed it......1929. If the BoE announce another round of QE, you'll know that the elite think they can get away with anything.

Perhaps its part of a natural cycle. The Uber wealthy get too powerful, buy influence at the expense of the rest of the population, promote monopolies etc. The masses (proletariat/middle class/working class etc) then rebel and we have a revolution and cut them down to size for the cycle to repeat all over again. Seems to happen every 100 years or so even in the US. Let the 2020's be the decade of revolution :huh:

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Guest sillybear2

Perhaps its part of a natural cycle. The Uber wealthy get too powerful, buy influence at the expense of the rest of the population, promote monopolies etc. The masses (proletariat/middle class/working class etc) then rebel and we have a revolution and cut them down to size for the cycle to repeat all over again. Seems to happen every 100 years or so even in the US. Let the 2020's be the decade of revolution :huh:

Will the English proletariat take to their camels too? :-

egypt-camel-getty_1817031c.jpg

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Newsnight on Monday night had Jeremy Paxman discussing company tax avoidance with someone from UK Uncut and the Institute of Directors.

37:17 into here http://www.bbc.co.uk/iplayer/episode/b00y9xtm/Newsnight_31_01_2011/

Was there any truth in this article?

The real scandal is why we are paying them £1m. If they are companies, then surely the BBC has a duty to get the best value for money.

Edited by greencat
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Will the English proletariat take to their camels too? :-

egypt-camel-getty_1817031c.jpg

Heh - it will be somewhat ironic if the revolution is inspired by the ME... I think it's coming... perhaps not a revolution, but enough of a bargy to upset a few apple carts and spark some genuine reform.

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The tax payable by a star such as Paxman, earning £1m, would be £627,000 from April if he were on staff, compared with £520,100 corporation tax and dividend tax if he used a service company and paid out the entire fee as a dividend.

Either way, he's giving away most of the money he has earned to your chosen good causes.

What's wrong with you people? Why aren't you grateful?

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I'm pretty sure that the elites aren't afraid of people on upper-middle incomes. The ones they should be afraid of are those with nothing to lose.

Absolutely right. That is why the middle income group will be quietly taxed to oblivion to keep the underclass in cheap cider and sky subscriptions; the latter day version of 'bread and circuses'.

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This is just mainstream media catching on to what we all knew 5 years ago. But if half of you guys spent as much time trying to become rich as you did complaining about being poor you would be one of those super rich and we'd all be chasing you off the forum due to your dirty banker money :P

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Very true.....if they are not careful the poor will spoil it for the rich....justified remuneration, when others are having to pay for it. ;)

Yes agreed. The super rich elite have been overtly greedy and it'll come back to bite them in the backside in the form of civil unrest, war or depressed asset values. Awarding themselves vast bonuses at the taxpayer's expense AFTER they were bailed out will be seen by historians as a major act of hubris.

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Not one banker showed up too defend themselves but it ok because London elected mayer showed up to defend them. Yes we know who you work for Boris and its isn't the majority who voted for you.

And the Tory party have the nerve to put tax up to 40% on people who earn £35,000, while the elite pay none. As george Carlin said " its a big club and you ain't in it".

Edited by Scott Sando
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Not one banker showed up too defend themselves but it ok because London elected mayer showed up to defend them. Yes we know who you work for Boris and its isn't the majority who voted for you.

Most of the super-rich tend to subscribe to the tenets of absolutist libertarianism, i.e.:

- All the wealth that a person acquires is entirely the result of their efforts and no other factors

- Taxation is theft.

- All things are for sale, including political influence.

- A contract is only valid if both parties have the means to fully enforce it. If one side lacks the means, tough; even the enforcement of contracts is for sale.

So if the voters of the world lack the will (or means) to restrain them, then as far as they are concerned it's tough.

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Most of the super-rich tend to subscribe to the tenets of absolutist libertarianism, i.e.:

- All the wealth that a person acquires is entirely the result of their efforts and no other factors

- Taxation is theft.

- All things are for sale, including political influence.

- A contract is only valid if both parties have the means to fully enforce it. If one side lacks the means, tough; even the enforcement of contracts is for sale.

So if the voters of the world lack the will (or means) to restrain them, then as far as they are concerned it's tough.

This form of absolutist libertarianism is fine if it were applied across the board. Didn't hear many of the banksters banging the non-intervention drum back in '08 when they were bailed out though, did you?

The bail outs changed the economic and political rules of engagement forever. It's a case of take what you can as quickly as possible - that goes for the demos as well as the elite.

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Either way, he's giving away most of the money he has earned to your chosen good causes.

What's wrong with you people? Why aren't you grateful?

Its a shame you have a brain the size of a pea.

As to your point -

We are in no way grateful because we recognise that the only reason the rewards are so vast for the elite is that it is the result of a vast bubble in money supply growth, which was at ~13% growth per year through the decade before the 2008 crash. And yet now that the velocity adjusted money supply is going negative (and at least a few of people have seen this bubble for the fraud that it is), instead of these elites taking the hit with their paypackets and wealth going back down, they are pushing the costs on to the rest of us.

So whats wrong with you? Do you like being defrauded? Or is it that you one of those ones doing the defrauding & stealing?

Edited by alexw
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This form of absolutist libertarianism is fine if it were applied across the board. Didn't hear many of the banksters banging the non-intervention drum back in '08 when they were bailed out though, did you?

The bail outs changed the economic and political rules of engagement forever. It's a case of take what you can as quickly as possible - that goes for the demos as well as the elite.

No, not fine - you missed this point in the post -

- All things are for sale, including political influence.

Hence the bailout. Whoever has the power and the money wins and if that's not you, tough.

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Most of the super-rich tend to subscribe to the tenets of absolutist libertarianism, i.e.:

- All the wealth that a person acquires is entirely the result of their efforts and no other factors

- Taxation is theft.

- All things are for sale, including political influence.

- A contract is only valid if both parties have the means to fully enforce it. If one side lacks the means, tough; even the enforcement of contracts is for sale.

So if the voters of the world lack the will (or means) to restrain them, then as far as they are concerned it's tough.

Agreed, and yet still you will get those that will argue in favour of this. There are plenty with such egos that they identify and side with the elites, even while being shafted by them.

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Historically, haven't the super-rich always been around, and on a different planet from us mortals? 'The Rich Are Different' and all that?

I recently re-read a Trollope, published l870s, where he mentions a single banquet costing £60K.

(Given by a supposedly fabulously rich con-man who ultimately comes to a bad end, you'll be pleased to hear.)

Plenty of other mentions in Trollope of sums/incomes (and debts) that must have seemed astronomical at the time to any ordinary person, let alone the poor.

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