Quote:
Originally Posted by aceventura3
You are still in a theoretical plain. A professor at a university, who writes a book in his "garage" and it goes on to become a best seller and then he becomes a full-time writer and a filthy "rich" fat cat, employing a team including fact checkers, agent, publicist, consultants, etc., in my opinion did not play a game of "high-risk". To make this example more real, perhaps look at Stephan King.
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I don't have a problem with people getting rich like this. I don't believe any body here has a problem with it. This is the good type of Capitalism. But, our income tax laws don't differentiate between making money by innovating, or making money by stealing someone's work and sending it off to China to get a cheaper product. It doesn't matter if you were made a CEO of the family business and took a big salary while the company failed, or if you made some unscrupulous financial transactions that 'guaranteed' that you would make money from the little guys. Then the one way around income taxes (and FICA probably) that some upper management does is to take stock options instead of a salary.... 15% in long term gains sure beats the 37% + 7% + city (most likely 0) (estimated percentages), yet everyone thinks your such a good guy...
All I want is some basic rules so the consumer doesn't get screwed, corporations don't get to dictate the rules and run the country, and the higher-ups in the financial industry don't make millions by using borrowed money to make bad investments. I don't want people to buy homes they aren't going to live in, spend thousands of dollars they don't have on things they don't need to impress others, and take certain jobs that we don't need anymore of just to make money. There are a lot of problems. Yet, I didn't want the entire economy to collapse in a period of a month or two in order to sort it out.