Why we love the rich and hate the poor

[gts476]

47% of people in the US do not pay any federal income taxes. This is the bottom of the barrel when it comes to incomes. If you want to talk about people needing to pay their fair share of income taxes then how is it fair that the lazy do not have to pay any taxes while the hardworking and successful need to pay upwards of 1/3 of their income in taxes.

Because they earn so little (or nothing) to begin with. If you took money from them in tax, you'd just end up spending that same money back on them in social programs anyway.

You do take away money from them...in the form of sales tax and other indirect taxes.

Inflation.

[Wealthy]

You can't say love poor and hate rich its liking and disliking.Love isn't limited to poor and rich.Liking and loving are different

[Jerome?]

Some just wasnt brought up nicely by their family

[realdope]

Because poor people is stupid and think they can get rich too with hard work 

[SwingBTC]

Because poor makes things harder, rich makes thing easy.

[oceans]

I guess the reason so many love the rich and hate the poor is because they feel as a rich person they can give more and people tend to love the people who can give more, especially when it comes to money. The poor never have as much meaning they are not so much use to them. I personally don't favourite either and treat everyone equally because it's not about how wealthy you are it's about who you are.

[GenieBTC]

Because poor people is stupid and think they can get rich too with hard work 

poor gets poorer, rich becomes richer.. Its what the society tells us today. We could not change that. Ever.

[gts476]

Poor people smell bad, rich peeps smell nice?

[picolo]

Because poor people is stupid and think they can get rich too with hard work 

poor gets poorer, rich becomes richer.. Its what the society tells us today. We could not change that. Ever.

The trend was less poor since the industrial revolution; government actions changed that trend and is creating more and more poor with its regulation, tax and subsidiaries given to poor people

[waqas]

Poor people smell bad, rich peeps smell nice?

Its very sadly true Poor smell bad and rich peeps smell nice I have this bad experience many time in my real life

[Dexter44]

Rich people need poor people. Otherwise they cannot be what they are.

[lemfuture]

Rich people need poor people. Otherwise they cannot be what they are.

what they need poor people for

[Poorri]

Rich people need poor people. Otherwise they cannot be what they are.

what they need poor people for

To pay them small so they can live big.

[picolo]

Rich people need poor people. Otherwise they cannot be what they are.

what they need poor people for

To pay them small so they can live big.

Dexter44 meant that if we are all rich, nobody is rich because you can be rich if some people are not rich

I don't think we love the rich and hate the poor, we respect the rich that seems less dangerous in the day to day life because they are unlikely to rob you but to some extent we hate the rich and like the poor

[gts476]

Rich people need poor people. Otherwise they cannot be what they are.

what they need poor people for

To pay them small so they can live big.

Absolutely! They need poor people to make champagne and build Aston Martins and paint master-pieces to hang in their architectural castles! wait a second................. you need to be skilled as fuck to create that shit, and if your skilled, your not poor.

[hannscryo]

Because poor people is stupid and think they can get rich too with hard work 

poor gets poorer, rich becomes richer.. Its what the society tells us today. We could not change that. Ever.

Yes expecially when talking about POS coins

[gts476]

Because poor people is stupid and think they can get rich too with hard work  

poor gets poorer, rich becomes richer.. Its what the society tells us today. We could not change that. Ever.

Yes expecially when talking about POS coins

Do you math?

Is your comment sarcasm? Can't tell if idiot or comic genius....

[wasserman99]

Going all the way back to Smith in 1776 a "vibrant" middle class is required for any capitalist system to work. That is a large part of what makes capitalism unique, and why it is generally considered to be the most just economic system. For it to work the majority of your money has to be out there in the economy among the middle and lower classes circulating. If you end up in the situation where we are, with the vast majority of the money concentrated in the hands of a few, the system breaks down.

Look at the recent economic crisis. The entire crisis was essentially a recognition that pricing discovery had broken down completely. At the end of the day any free market system at its basest level is nothing BUT a price discovery mechanism. If price discovery has broken down your entire economy is essentially a farce...it is not doing its primary job.

In this case the break down was essentially caused by investment level hyperinflation. Econ 101...too much money chasing too few goods leads to inflation. The same thing happens with investments as happens with a loaf of bread at the corner supermarket. If you end up with too much capital in your top 20%, where that money tends to be put into investments instead of spent against goods and services, you end up in a situation where the real economy stagnates due to lack of wealth while investments get expensive because there is so much capital chasing so few investment opportunities.

In the past this has been self correcting to some degree because of the limited investment opportunities. Today we have the technology to create and track a multi trillion dollar derivatives market which allows us to artificially leverage the relatively few investment opportunities out there that are actually backed by hard assets.

It will eventually end up "correcting" anyway, the odds of our economy surviving it are just FAR worse than they have been in the past.

I want to note that I'm not even sure why you arguing for a "Robin Hood" type tax system. The argument against taxing the rich always boils down to "we shouldn't tax the rich to give to the poor". Well I don't want to speak for you but I bet he generally agrees. Most people agree some sort of welfare is always needed to hope those who would never be able to help themselves (such as the mentally handicapped) or those who are down on their luck; as an example.

Hell not I am not arguing for a robin hood type system. I have no desire to tax the rich and give it to the poor. I want to tax the rich and PAY OUR BILLS WITH IT.

We can make a logical argument for it (the wealthy are the only ones who can AFFORD to pay) or we can make a moralistic argument (they hold 90% of the wealth, derived 90% of the benefit, they should pay 90% of the bill) or we can just shrug and say "sometimes you just get screwed". I don't really care. I don't want my children to have to grow up in a third world country, and that is where America is headed if we don't do something about our fiscal problems.

This is why economic stupidity annoys me so much right now. We have serious, serious problems and by all accounts we have a very limited window in which to fix them. This is SERIOUS with nothing less than the very survival of our nation at stake. This is bar none the biggest clear and present danger that the US has ever faced.

The fast majority of the federal expenditures are either transfer payments to the lazy or otherwise benefit the poor. Very little of what the government spends it's money on is spent on things that benefit the rich/successful.

Granted a good portion of the federal budget does go to national defense, however this benefits everyone, but also makes it less necessary to institute a draft because we can invest in technology that allows us to have a smaller army (people with more wealth are generally exempt from the draft due to they usually fall into categories like them getting an education that prevent them from needing to serve).

[picolo]

Going all the way back to Smith in 1776 a "vibrant" middle class is required for any capitalist system to work. That is a large part of what makes capitalism unique, and why it is generally considered to be the most just economic system. For it to work the majority of your money has to be out there in the economy among the middle and lower classes circulating. If you end up in the situation where we are, with the vast majority of the money concentrated in the hands of a few, the system breaks down.

Look at the recent economic crisis. The entire crisis was essentially a recognition that pricing discovery had broken down completely. At the end of the day any free market system at its basest level is nothing BUT a price discovery mechanism. If price discovery has broken down your entire economy is essentially a farce...it is not doing its primary job.

In this case the break down was essentially caused by investment level hyperinflation. Econ 101...too much money chasing too few goods leads to inflation. The same thing happens with investments as happens with a loaf of bread at the corner supermarket. If you end up with too much capital in your top 20%, where that money tends to be put into investments instead of spent against goods and services, you end up in a situation where the real economy stagnates due to lack of wealth while investments get expensive because there is so much capital chasing so few investment opportunities.

In the past this has been self correcting to some degree because of the limited investment opportunities. Today we have the technology to create and track a multi trillion dollar derivatives market which allows us to artificially leverage the relatively few investment opportunities out there that are actually backed by hard assets.

It will eventually end up "correcting" anyway, the odds of our economy surviving it are just FAR worse than they have been in the past.

I want to note that I'm not even sure why you arguing for a "Robin Hood" type tax system. The argument against taxing the rich always boils down to "we shouldn't tax the rich to give to the poor". Well I don't want to speak for you but I bet he generally agrees. Most people agree some sort of welfare is always needed to hope those who would never be able to help themselves (such as the mentally handicapped) or those who are down on their luck; as an example.

Hell not I am not arguing for a robin hood type system. I have no desire to tax the rich and give it to the poor. I want to tax the rich and PAY OUR BILLS WITH IT.

We can make a logical argument for it (the wealthy are the only ones who can AFFORD to pay) or we can make a moralistic argument (they hold 90% of the wealth, derived 90% of the benefit, they should pay 90% of the bill) or we can just shrug and say "sometimes you just get screwed". I don't really care. I don't want my children to have to grow up in a third world country, and that is where America is headed if we don't do something about our fiscal problems.

This is why economic stupidity annoys me so much right now. We have serious, serious problems and by all accounts we have a very limited window in which to fix them. This is SERIOUS with nothing less than the very survival of our nation at stake. This is bar none the biggest clear and present danger that the US has ever faced.

The fast majority of the federal expenditures are either transfer payments to the lazy or otherwise benefit the poor. Very little of what the government spends it's money on is spent on things that benefit the rich/successful.

Granted a good portion of the federal budget does go to national defense, however this benefits everyone, but also makes it less necessary to institute a draft because we can invest in technology that allows us to have a smaller army (people with more wealth are generally exempt from the draft due to they usually fall into categories like them getting an education that prevent them from needing to serve).

Your point of view is interesting but the money that goes to the national defense is mostly wasted, heat up everyone against us and buy guns that will fall in our enemies hands

[richardramirez9]

Because poor people want your money and you are naive enough to think rich people aren't greedy cunts.