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	<title>Comments on: David Cay Johnston: The Fortunate 400</title>
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		<title>By: cpfstock</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24381</link>
		<dc:creator>cpfstock</dc:creator>
		<pubDate>Tue, 12 Jun 2012 00:40:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24381</guid>
		<description><![CDATA[Anyone who has not seen their returns should refrain from comment.]]></description>
		<content:encoded><![CDATA[<p>Anyone who has not seen their returns should refrain from comment.</p>
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		<title>By: DurdyDawg</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24322</link>
		<dc:creator>DurdyDawg</dc:creator>
		<pubDate>Mon, 11 Jun 2012 18:50:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24322</guid>
		<description><![CDATA[&quot;The vast majority of people in business are decent people.&quot;...

Fact is, that&#039;s EXACTLY what I said in that I focused on: &quot;The vultures you describe get all the headlines but are the exception rather than the rule.&quot; But here you are taking it personal, as if you had been counted in this vile category. Yes, it is those types who have the loudest voice but no different that so-call liberals when you (or others) blame all DEMS for the antics of a few and in turn they view all PUBS as rich usurpers. Read as a third party, not as it revolves exclusively around you and you just might understand what I was trying to say because it is true and they give the honest employer a bad name because of their underhanded ambitions.. I&#039;ve worked for both types and although they are similar when letting their employees go, their worlds apart in taking away their accumulated pensions and investments.. So don&#039;t take it as an all out war that every employer is blood suckers, only those who would destroy the lives of others in order to gain a profit in their bankruptcy. And as far as being the exception rather than the rule.. that may be so but unlike you (and those who are honest) they wouldn&#039;t screw their employees but not so these vermin, and there&#039;s many more that you let on.. just visit wall street and the check out the b&#039;ness men/turned investor if you don&#039;t believe.. hell, they&#039;d give up their g&#039;ma if it meant a profit. So, I don&#039;t care what you call me nor do I care that you view the opinion personal but if you read it correctly you&#039;d have no choice but believe it&#039;s true with these users.]]></description>
		<content:encoded><![CDATA[<p>&#8220;The vast majority of people in business are decent people.&#8221;&#8230;</p>
<p>Fact is, that&#8217;s EXACTLY what I said in that I focused on: &#8220;The vultures you describe get all the headlines but are the exception rather than the rule.&#8221; But here you are taking it personal, as if you had been counted in this vile category. Yes, it is those types who have the loudest voice but no different that so-call liberals when you (or others) blame all DEMS for the antics of a few and in turn they view all PUBS as rich usurpers. Read as a third party, not as it revolves exclusively around you and you just might understand what I was trying to say because it is true and they give the honest employer a bad name because of their underhanded ambitions.. I&#8217;ve worked for both types and although they are similar when letting their employees go, their worlds apart in taking away their accumulated pensions and investments.. So don&#8217;t take it as an all out war that every employer is blood suckers, only those who would destroy the lives of others in order to gain a profit in their bankruptcy. And as far as being the exception rather than the rule.. that may be so but unlike you (and those who are honest) they wouldn&#8217;t screw their employees but not so these vermin, and there&#8217;s many more that you let on.. just visit wall street and the check out the b&#8217;ness men/turned investor if you don&#8217;t believe.. hell, they&#8217;d give up their g&#8217;ma if it meant a profit. So, I don&#8217;t care what you call me nor do I care that you view the opinion personal but if you read it correctly you&#8217;d have no choice but believe it&#8217;s true with these users.</p>
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		<title>By: mikebow</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24192</link>
		<dc:creator>mikebow</dc:creator>
		<pubDate>Mon, 11 Jun 2012 11:54:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24192</guid>
		<description><![CDATA[I meant take advantage of the opportunities afforded to them not of other people.  I was a small business owner until my retirement.  We employed 15 people.  They were my employees and my friends.  Sometimes I had to let people go, usually because of business slowdowns.  They understood it was necessary for the business to survive, and I did all I could to help them out.  Large companies can&#039;t operate this way even if they wanted to.  Government regulations require that they follow rigid personnel policies or be subjected to lawsuits.

You have a very warped view of what it takes to get ahead in business.  The vast majority of people in business are decent people.  The vultures you describe get all the headlines but are the exception rather than the rule.  In spite of what you see in the news, they usually fail in the long run.  I do think that there has been a decline in business ethics, and business schools are now placing more emphasis on this.

In general, wages are based on demand for a skill.  If  a job can be done by anyone with a pulse, the wages will be low.  If you have a skill that is in high demand, you can demand a high wage because companies have to compete for your labor.  No one wants to pay more than they have to for anything that they purchase, including someone&#039;s labor.  In slow economic times, the demand for labor in general goes down, so wages go down unless you have a &quot;recession-proof&quot; skill which is always in demand.]]></description>
		<content:encoded><![CDATA[<p>I meant take advantage of the opportunities afforded to them not of other people.  I was a small business owner until my retirement.  We employed 15 people.  They were my employees and my friends.  Sometimes I had to let people go, usually because of business slowdowns.  They understood it was necessary for the business to survive, and I did all I could to help them out.  Large companies can&#8217;t operate this way even if they wanted to.  Government regulations require that they follow rigid personnel policies or be subjected to lawsuits.</p>
<p>You have a very warped view of what it takes to get ahead in business.  The vast majority of people in business are decent people.  The vultures you describe get all the headlines but are the exception rather than the rule.  In spite of what you see in the news, they usually fail in the long run.  I do think that there has been a decline in business ethics, and business schools are now placing more emphasis on this.</p>
<p>In general, wages are based on demand for a skill.  If  a job can be done by anyone with a pulse, the wages will be low.  If you have a skill that is in high demand, you can demand a high wage because companies have to compete for your labor.  No one wants to pay more than they have to for anything that they purchase, including someone&#8217;s labor.  In slow economic times, the demand for labor in general goes down, so wages go down unless you have a &#8220;recession-proof&#8221; skill which is always in demand.</p>
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		<title>By: dtgraham</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24187</link>
		<dc:creator>dtgraham</dc:creator>
		<pubDate>Mon, 11 Jun 2012 08:08:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24187</guid>
		<description><![CDATA[Exactly right Matt.  You learn that in economics 101.  There&#039;s a velocity factor to money in that the further down the scale it goes, the more the compounding of the effect that it has on the total economy, after it&#039;s spent. ]]></description>
		<content:encoded><![CDATA[<p>Exactly right Matt.  You learn that in economics 101.  There&#8217;s a velocity factor to money in that the further down the scale it goes, the more the compounding of the effect that it has on the total economy, after it&#8217;s spent. </p>
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		<title>By: DurdyDawg</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24176</link>
		<dc:creator>DurdyDawg</dc:creator>
		<pubDate>Mon, 11 Jun 2012 03:14:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24176</guid>
		<description><![CDATA[May I intercept for a minute?..  Mike, you say, &quot;The problem is so many people don&#039;t know how to take advantage and compete in our system.&quot;.. No! The problem is there&#039;s a certain amount of people who know how to take advantage of others through the system, doesn&#039;t care who they stomp on in their quest to riches and has no use for morality when it relates to b&#039;ness.. There are those who do not walk about with a corporate knife behind their back ready at any time to stab even their own ilk in the back for that one more rung up the ladder.. B&#039;ness takes a special kind of character and on the whole, decent people aren&#039;t willing to stoop that low nor willing to sell their souls for other people&#039;s toil in order to make them richer. You attempt to throw guilt trips on honest people, telling them if they want to succeed in life then they must treat everyone else as prey. By manipulating the cost of living and refusing to include COL increases, then you systematically keep the poor living from day to day as they toil for little more than minimum wage and produce products for you to gain in wealth.. (not &#039;you&#039; you but the one&#039;s your seemingly defending).]]></description>
		<content:encoded><![CDATA[<p>May I intercept for a minute?..  Mike, you say, &#8220;The problem is so many people don&#8217;t know how to take advantage and compete in our system.&#8221;.. No! The problem is there&#8217;s a certain amount of people who know how to take advantage of others through the system, doesn&#8217;t care who they stomp on in their quest to riches and has no use for morality when it relates to b&#8217;ness.. There are those who do not walk about with a corporate knife behind their back ready at any time to stab even their own ilk in the back for that one more rung up the ladder.. B&#8217;ness takes a special kind of character and on the whole, decent people aren&#8217;t willing to stoop that low nor willing to sell their souls for other people&#8217;s toil in order to make them richer. You attempt to throw guilt trips on honest people, telling them if they want to succeed in life then they must treat everyone else as prey. By manipulating the cost of living and refusing to include COL increases, then you systematically keep the poor living from day to day as they toil for little more than minimum wage and produce products for you to gain in wealth.. (not &#8216;you&#8217; you but the one&#8217;s your seemingly defending).</p>
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		<title>By: Ben Richey</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-24069</link>
		<dc:creator>Ben Richey</dc:creator>
		<pubDate>Sun, 10 Jun 2012 03:08:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-24069</guid>
		<description><![CDATA[Buying and trading stocks is totally disconnected from investment in a company, and have been for years. How else can you explain the CEO who is handsomely rewarded by his board for making short-term decisions to bump the quarterly stock price, while ignoring the vision for long-term business planning? Boards and executives have absolutely no taste for investment that won&#039;t show an immediate return. It&#039;s obvious, when stock prices jump every time a company announces massive layoffs, that it&#039;s all about the return for the hedge fund manager and not the least bit about the health of the company.

US companies are sitting on billions of dollars in capital reserves while demand stagnates because of widespread unemployment.  If companies would invest these dollars in their business, they would create hundreds of thousands of new jobs, and by doing so would restore demand for the goods and services they provide because there would be workers with income to purchase them. There needs to be a return to the ideas of Henry Ford, who understood that paying his workers enough to be able to afford his product (a living wage) was a smart business decision that ensured long-term growth for his company and his profits.]]></description>
		<content:encoded><![CDATA[<p>Buying and trading stocks is totally disconnected from investment in a company, and have been for years. How else can you explain the CEO who is handsomely rewarded by his board for making short-term decisions to bump the quarterly stock price, while ignoring the vision for long-term business planning? Boards and executives have absolutely no taste for investment that won&#8217;t show an immediate return. It&#8217;s obvious, when stock prices jump every time a company announces massive layoffs, that it&#8217;s all about the return for the hedge fund manager and not the least bit about the health of the company.</p>
<p>US companies are sitting on billions of dollars in capital reserves while demand stagnates because of widespread unemployment.  If companies would invest these dollars in their business, they would create hundreds of thousands of new jobs, and by doing so would restore demand for the goods and services they provide because there would be workers with income to purchase them. There needs to be a return to the ideas of Henry Ford, who understood that paying his workers enough to be able to afford his product (a living wage) was a smart business decision that ensured long-term growth for his company and his profits.</p>
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		<title>By: audiorago</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-23895</link>
		<dc:creator>audiorago</dc:creator>
		<pubDate>Sat, 09 Jun 2012 14:56:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-23895</guid>
		<description><![CDATA[Does this take Capital Gains into account?  As I understand things, people with amount of wealth don&#039;t actually work for wages and income but instead subsist on Capital Gains which is taxed at a much lower rate anyway.]]></description>
		<content:encoded><![CDATA[<p>Does this take Capital Gains into account?  As I understand things, people with amount of wealth don&#8217;t actually work for wages and income but instead subsist on Capital Gains which is taxed at a much lower rate anyway.</p>
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		<title>By: mikebow</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-23727</link>
		<dc:creator>mikebow</dc:creator>
		<pubDate>Sat, 09 Jun 2012 00:51:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-23727</guid>
		<description><![CDATA[When you invest in a stock, you are investing in a company.  This gives the company the capital to expand and create more jobs.  In a capitalist system, the entrepreneur puts their money or their investors&#039; money at risk in hopes of making a good return (profit).  In doing so, jobs are created where other people sell their labor for an agreed upon price.  The workers earn a living without putting their money at risk.  If the company fails the workers lose their jobs, but can go elsewhere to sell their labor.  They keep the money they have earned.  The investors lose the money they have invested and have gained nothing but experience.  

If the possible reward is not great enough, why would someone risk their money to start a business and create new jobs instead of just working for someone else?  I have no problem with a progressive income tax, but if  you destroy the incentive to invest, people will not put their money at risk, and no jobs will be created.  
]]></description>
		<content:encoded><![CDATA[<p>When you invest in a stock, you are investing in a company.  This gives the company the capital to expand and create more jobs.  In a capitalist system, the entrepreneur puts their money or their investors&#8217; money at risk in hopes of making a good return (profit).  In doing so, jobs are created where other people sell their labor for an agreed upon price.  The workers earn a living without putting their money at risk.  If the company fails the workers lose their jobs, but can go elsewhere to sell their labor.  They keep the money they have earned.  The investors lose the money they have invested and have gained nothing but experience.  </p>
<p>If the possible reward is not great enough, why would someone risk their money to start a business and create new jobs instead of just working for someone else?  I have no problem with a progressive income tax, but if  you destroy the incentive to invest, people will not put their money at risk, and no jobs will be created.  </p>
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		<title>By: montanabill</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-23715</link>
		<dc:creator>montanabill</dc:creator>
		<pubDate>Sat, 09 Jun 2012 00:26:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-23715</guid>
		<description><![CDATA[You too,dt.]]></description>
		<content:encoded><![CDATA[<p>You too,dt.</p>
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		<title>By: dtgraham</title>
		<link>http://www.nationalmemo.com/david-cay-johnston-the-fortunate-400/#comment-23690</link>
		<dc:creator>dtgraham</dc:creator>
		<pubDate>Fri, 08 Jun 2012 23:32:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.nationalmemo.com/?p=17921#comment-23690</guid>
		<description><![CDATA[Good talkin&#039; to you montana.  Well, typing anyway.]]></description>
		<content:encoded><![CDATA[<p>Good talkin&#8217; to you montana.  Well, typing anyway.</p>
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