Great speech and it's great to hear this coming from someone on the "other side," someone who can speak the truth of his own position and understands
how problematic the system he's a part of really is. As a venture capitalist, he does have an important role to serve, which is great and I don't
begrudge him his success at all. It's refreshing to hear someone who holds such a position understand his duty to society and how his position is
essentially like a public trust, like a bank should be, and that for him its not about hoarding money.
Originally posted by Wolf321
The ultra rich get their fat paycheck, stock options and bonuses from the consumers to support their companies endeavors. If the middle class
consumers didn't want to see these big CEO's getting so much and them to keep more of their money, they would not buy their products or use their
Most of them get their fat paychecks from financial manipulation of the system, such as absurdly low tax rates on capital gains which do nothing for
society at large, and only enhance the bank accounts of the super rich who make most of their money in that way.
As for not buying these products and services, how does one avoid buying for food at a supermarket or Wal-Mart, which is often the only place in much
of American one can buy their food? How does one avoid buying gas, or buying a car or truck to get to work, or in some cases to work out of if they
have a job as, say, a plumber, landscaper or contractor? You can't ask people to not buy products they need. You can't ask people to not pay to have
a telephone, electrical power or access to the Internet (which by now is a utility as much as the phone or gas and electric). People have to buy
these things, and if they stop, then the economy really does tank completely.
The problem is those running these companies are skimming too much for themselves, and hoarding it and all of that money doesn't go back into the
economy. The worst of the worst are those involved in hedge funds which do literally nothing but absorb money out of the economy for only the very
wealthiest individuals, and provide nothing of any value in return. They are purely money sponges that create no jobs (except for a very small number
at the hedge funds, themselves).
edit on 5/22/2012 by LifeInDeath because: (no reason given)