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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (48135)	2/21/1999 10:56:00 AM
From: Tommaso	Respond to of 132070

Actually in the Depression FDR took care of that problem (of inequality of wealth) by persuading Congress to raise top tax rates to something like 75%, which then went up to 90% during WWII. I am just talking from memory, and the figures and timing may be somewhat different. Maybe Gates will gte a case of what afflicted John D. Rockfeller and start thinking of how to use that power for purposes that benefit a lot of people. He got that power by not attmpting to overchrge for his software, which was a good thing. I will never cease to marvel at the colossal mistake made by Tandy/Radio Shack in trying to prevent people from writing software for their computers--trying to control everything for maximum immediate profit and refusing to cooperate with other entrepreneurs.

To: wlheatmoon who wrote (48135)	2/21/1999 12:19:00 PM
From: accountclosed	Respond to of 132070

A rich man doesn't need more. Yet he can gamble and possibly have more when he doesn't need more at all. A loss to a rich man may mean nothing to his lifestyle. This concept is called "marginal utility". It amazing to me how absent this is from most discussion on SI. We hear from the yahoo and dell threads how "rich" everyone is and they let it ride and taunt the bears. Then we hear about the margin calls. If they were so rich, why didn't they pull a little off the table to insure their lifestyle. And if was insured already, why the margin calls and pain when the stocks drop a little. And then the Mary Cluney types saying folks here can't profit.... Just a little mania for you <g>