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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (636061)	11/14/2011 11:41:33 AM
From: Brumar89	Read Replies (5) \| Respond to of 1578452

And do you have examples of fortunes that have been made that way?

To: Road Walker who wrote (636061)	11/14/2011 11:53:02 AM
From: i-node	2 Recommendations Respond to of 1578452

>> If they get richer because the companies they own or invest in pay their workers less money and benefits, then yes "people getting richer does make others poorer". This is far too complex an issue to boil it down to a single sentence like this. But one inescapable fact is that in the US, at least, during an economy where the rich are getting richer, the standards of living of the poor increase as well. The more important point, however, is that there is very little to be done about it one way or the other. Government has tried for decades to assist the poor and what has been the result? More poverty (again, at higher standards of living). If you confiscate the profits of the wealthy, you will further injure the poor by limiting capital formation. If you help unions negotiate big deals for their memberships, you end up sending manufacturing to China. If you insist on higher benefits (as was done by Obamcare), you end up costing people their jobs altogether or see elimination of whatever benefits they previously had. Free markets developed employer provided health insurance. Then, the government came along in the 60s and disrupted the markets with Medicare and Medicaid, and brought us the mess we now have -- further involvement by the government is bringing us to a time (very soon) when the aged cannot even see a physician -- being shoved off to a midlevel provider instead. The pooling of money in the hands of the wealthy may not be ideal, but it is an attribute of success that really cannot be changed.