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What's Too Much??

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Balladeer
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0 posted 04-30-2010 11:32 PM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer


"Now, what we're doing, I want to be clear, we're not trying to push financial reform because we begrudge success that's fairly earned. I mean, I do think at a certain point you've made enough money." --Barack Obama

Ok, Barack, I give....how much is too much? is your five million last year too much? Is Al Gore's millions too much? Who is going to decide what is too much? WIll you be appointing a "too much" czar to oversee earnings and determine who is making too much money? Will Bill Gates and Warren Buffet be put on allowances?

Has anyone ever thought that they would hear a president of the United States make such a statement?????????????
Bob K
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1 posted 05-01-2010 12:12 AM       View Profile for Bob K   Email Bob K   Edit/Delete Message      Find Poems  View IP for Bob K



     Not interested in Financial reform, Mike?
Balladeer
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2 posted 05-01-2010 12:19 AM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

Is that what you think that is, Bob? Do you agree with it then? Is financial reform telling others how much they can make and setting limits?

Is the land of opportunity now the place where you can work hard and make as much as the government tells you that you can make?
Local Rebel
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3 posted 05-01-2010 09:44 AM       View Profile for Local Rebel   Email Local Rebel   Edit/Delete Message      Find Poems  View IP for Local Rebel

Mike do you think regulating artificial trading (aka gambling) like Credit Default Swaps -- which has moved the banking industry (and bank-like industries)from the range of 17% GDP to over 60% of GDP is telling people how much money they can make -- or is it telling them if you really want to make money in America you really have to make something or build something?
Balladeer
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4 posted 05-01-2010 01:00 PM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

"Now, what we're doing, I want to be clear, we're not trying to push financial reform because we begrudge success that's fairly earned. I mean, I do think at a certain point you've made enough money." --Barack Obama

I felt the need to reprint it in case you didn't understand it.

or is it telling them if you really want to make money in America you really have to make something or build something?

What's it seems to be telling them is that, even if one makes something or builds something, there is still a point where you have made enough money. That's a dangerous comment. Who will determine "enough"? Who is going to put the cap on the earnings? Any American should look at that statement and cringe in fear. If  Obama were to make the statement that making something or building something worthwhile would allow unrestricted profits for their ingenuity or good work, that would be different. Instead, he is saying "at a certain point you have made enough money". The hairs on your neck should be standing at attention.
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5 posted 05-01-2010 06:19 PM       View Profile for Local Rebel   Email Local Rebel   Edit/Delete Message      Find Poems  View IP for Local Rebel

quote:

Who will determine "enough"?



No one.

quote:

Who is going to put the cap on the earnings?



No one.

The last sentence of your citation is an aside Mike.  That you take it as the substance of the proposed legislation speaks to the false sense of insecurity you're constantly lulled into by the reactionary resources you use for misinformation.
Ron
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6 posted 05-01-2010 06:28 PM       View Profile for Ron   Email Ron   Edit/Delete Message      Find Poems   Click to visit Ron's Home Page   View IP for Ron

That's the way it's been in America, Mike, for pretty much several hundred years. That's why we have Estate Taxes and it's only been in recent years they've come into disrepute.

Every played Monopoly, Mike? Those games can go on for hours on end, but eventually someone wins. Eventually, someone has ALL the money and everyone else goes broke. Without government regulation that is the ultimate fate of Laissez faire capitalism. It's as mathematically inevitable as the sun rising tomorrow.

So, yea, there is "a certain point you've made enough money." It's not easily achieved, but it's there.


Balladeer
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7 posted 05-01-2010 09:20 PM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

Ron, I have a hard time relating that to Obama's comment.
Bob K
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8 posted 05-02-2010 02:05 AM       View Profile for Bob K   Email Bob K   Edit/Delete Message      Find Poems  View IP for Bob K



     How about a reference and a source for the Obama comment, Mike, so I can have a look at the context?  Sometimes that's a help in figuring out a decent response or in figuring out if the person quoted is simply talking nonsense.
Denise
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9 posted 05-02-2010 08:16 AM       View Profile for Denise   Edit/Delete Message      Find Poems  View IP for Denise

Here you go, Bob.
http://www.realclearpolitics.com/video/2010/04/28/obama_to_wall_street_i_do_think_at_a_certain_point_youve_made_enough_money.html
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10 posted 05-02-2010 08:19 AM       View Profile for Denise   Edit/Delete Message      Find Poems  View IP for Denise

Maybe he should let us know when we've reached that point of having made enough money. Then we'll know when to stop working!
Balladeer
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11 posted 05-02-2010 08:49 AM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

DOn't worry, Denise. The government will let you know!
Bob K
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12 posted 05-02-2010 06:40 PM       View Profile for Bob K   Email Bob K   Edit/Delete Message      Find Poems  View IP for Bob K



     The trouble is that both of you are too trusting of the government.  And the further Right the government gets, the more trusting you are.

     Why you should trust any of them is beyond me.
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13 posted 05-02-2010 06:55 PM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

Denise, did you say anything to indicate you were too trusting of the government?
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14 posted 05-02-2010 07:08 PM       View Profile for Denise   Edit/Delete Message      Find Poems  View IP for Denise

Not that I recall, Michael.
Balladeer
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15 posted 05-02-2010 07:31 PM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

hmmm..interesting. Me, neither.
Bob K
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16 posted 05-03-2010 12:01 AM       View Profile for Bob K   Email Bob K   Edit/Delete Message      Find Poems  View IP for Bob K



     Arizona.
rwood
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17 posted 05-03-2010 06:48 AM       View Profile for rwood   Email rwood   Edit/Delete Message      Find Poems  View IP for rwood

Thereís people out whoíve got too much money due to unfair practices? Are we talking about regulating their net worth or the percentage of profit from their particular practice or the means itself with which they turn a profit?

And how will the Gov. identify the unfair practices and regulate them fairly across the board for all prospective others, without being in control of the "free market, open competition, profit motive and private ownership of the means of production, & private investment and business?" (wiki)

Itís illegal to have a yard sale in Germany.

Anyone ever find a treasure in someoneís trash? And profit 200+%?

Itís in the polishing  

Maybe thereís a little enterprising corporate mogul in all of us, and No One is safe!!! LOL. Hence the Gov. must reign/rein us in to keep us from being too loose in the canons of earnest transactions.

My guess is: The Gov. is at the bottom of the barrel of their wine budget and now they want a full tap of the hard stuff.
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18 posted 05-03-2010 08:11 AM       View Profile for Ringo   Email Ringo   Edit/Delete Message      Find Poems  View IP for Ringo

quote:
Who is going to decide what is too much? WIll you be appointing a "too much" czar to oversee earnings and determine who is making too much money?

Pay czar limits salaries for top executives at 5 firms http://www.washingtonpost.com/wp-dyn/content/article/2010/03/23/AR2010032303994.html
Pay Czar Gets Broad Authority Over Executive Compensation http://online.wsj.com/article/SB124464909136002467.html
'Pay czar' Kenneth Feinberg caps pay of midlevel executives http://www.politico.com/news/stories/1209/30480.html

How soon you have forgotten, Mike.

quote:
Who will determine "enough"?
No one.
Who is going to put the cap on the earnings?
No one.

Actually, Reb, Ken Feinberg is.

quote:
So, yea, there is "a certain point you've made enough money." It's not easily achieved, but it's there.

True enough, Ron, yet I find it hard to allow myself to believe it is the Federal Government's job to make that decision. The reason these people are making the dollars they are is because they either earn it (in the case of brokers and such) or it is what the market will bear. Once the leaders of the firms paying the bucks start losing their money because they are paying $15 million in cash and another $10 million in stock for someone who is more interested in money than doing his job, then the pay will come down.

quote:
The trouble is that both of you are too trusting of the government.  And the further Right the government gets, the more trusting you are.

Bob, this is surprising coming from you. I can't count the number of threads that you have done an admirable job standing up for the administration against the "unholy trinity" of Mike, Denise, and myself. In NONE of those threads did we ever make any comments about trusting the government. As a point of order, it seems that the three of us (with the help of others) have spent a great deal of thought and energy describing in exact detail why the federal government is NOT to be trusted. You are better than this statement, Bob.

quote:
Arizona.

Again, Bob, you are- imo- attempting to muddy the waters and change the topic of a lost argument. This issue involves... wait for it... Arizona. That is one, single state, and is not "the government" that most people consider when you make a statement such as "trusting the government".
Arizona also has not the slightest bit to do with anything at all involving the current Administration (large "A" to show I mean the federal, and not- say- Pennsylvania) deciding that people can make too much money, and that it is their job to bring these people back down to the mid level of the American populace.

One thing I think is funny, though...
President Obama is talking about the people on Wall Street making too much money, yet (as Mike pointed out) not mentioning that he has made $5 million on a $400K a year job, or that Al Gore made $100 million fear mongering (usually a Republican tactic, no?), or that Gov. Palin made $15 million in the past year writing a book, and making speeches, and becoming a pundit? He isn't making any references to John Kerry (who had a net worth $167 million FY2009), or Rep. Issa ($164 million), or even Rep. Teague (a palrty $41 million)... oh, wait... perhaps it is because 8 of the 10 richest members of Congress (both houses) arte Democrats? (no, I don't believe it; however, what thread would be complete without some Democrat bashing? lol)

Plain and simple, Mr. President... You promised to make changes, and yet you are still invovled in the fear-mongering, class warfare, and strong-arm politics that has been prevelent for far too long. These days, we call it Chicago-Style politics, and you, Sir, are no change.

Life's journey is not to arrive at the grave safely in a well preserved body, but rather to skid in sideways, totally worn out, shouting, "WHAT A RIDE

Balladeer
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19 posted 05-03-2010 08:33 AM       View Profile for Balladeer   Email Balladeer   Edit/Delete Message      Find Poems   Click to visit Balladeer's Home Page   View IP for Balladeer

Ah, yes, Ringo. I had forgotten about Kenny boy. Thanks for the refresher...
Local Rebel
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20 posted 05-03-2010 07:37 PM       View Profile for Local Rebel   Email Local Rebel   Edit/Delete Message      Find Poems  View IP for Local Rebel

quote:

Pay czar limits salaries for top executives at 5 firms



Yes -- firms that were(are) operating on TAXPAYER dollars -- and only had to agree to the salary caps if they were going to take our money.  

No one is walking into Mom and Pops Diner, or McDonald's for that matter -- and telling anybody how much money they can make.
Denise
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21 posted 05-04-2010 08:34 AM       View Profile for Denise   Edit/Delete Message      Find Poems  View IP for Denise

And if I recall from a news snippet a month or so ago, he also said it could be expanded to include companies that the administration deems a 'systemic risk'.
Ringo
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22 posted 05-04-2010 09:56 PM       View Profile for Ringo   Email Ringo   Edit/Delete Message      Find Poems  View IP for Ringo

I will grant the point that the top executives were living off the tax payer's dole... where do the mid-level executives fit into the picture?

Is it possible that they, with their measley $150,000, are making too much money also?

Life's journey is not to arrive at the grave safely in a well preserved body, but rather to skid in sideways, totally worn out, shouting, "WHAT A RIDE

 
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