FT213: “Rich liberals support a large welfare state to assuage their wealth guilt.” —Old Pithy

Posted by PITHOCRATES - March 14th, 2014

Fundamental Truth

Rich People become Liberals so People don’t Shame them for their Obscene Wealth

Rich people love being rich.  They love their mansions.  Their expensive cars.  Eating at the finest restaurants.  Drinking the finest wine.  Going on lavish vacations.  Going to the best parties.  Hanging with the beautiful people.  And rich men especially like the sex with beautiful young women their wealth can make happen.  To quote the Eagles song Life in the Fast Lane rich people love having everything all of the time.

Some of the richest people in the United States are liberals.  Yes, those same people who argue for income and wealth equality.  Hollywood stars.  Televisions stars.  Authors.  And music stars.  Who are everything they stand against.  They’re part of that evil 1%.   And they live very ostentatious lives.  Their wealth is over the top.  Bling.  Cars.  Cars with bling.  Nothing but the best.  And then some.  This wealth is okay, though.  But those in the 1% other than them?  Government should raise their taxes to take as much of it away as possible.  And we should all shame them for daring to have such obscene wealth.

Of course, rich liberals like their obscene wealth.  They want to keep it.  And they want to continue their lavish lives.  But they don’t want people shaming them.  They want people to love them and adore them.  So they buy whatever they’re selling.  Movies, televisions shows, books or music.  They don’t want anyone shaming them for their obscene wealth.  So they do something very simple to avoid that shame.  They become public liberals.

Only those Businesses that Continually Please their Customers Succeed

Liberals can have the most obscene amounts of wealth without anyone shaming them for that obscene wealth.  Why?  Because they belong to the ‘right’ political party.  The one that argues against income and wealth inequality.  So they get a pass.  Which is why so many rich people are liberals.  They want to be left alone.  And their call for higher taxes on rich people?  Well, they’re so rich that they can hire the best accountants and tax attorneys to help them shield their wealth from the taxman.  There’s a reason why the tax code is so convoluted and not a simple flat tax like conservatives want.  To help rich liberals keep their money.

Then there are rich liberals who have too much of a conscious.  And they feel guilty for having obscene wealth.  But not guilty enough to give their wealth away.  These liberals are vehemently pro big government.  They want a massive welfare state.  To assuage their wealth guilt.  So they can continue to enjoy their obscene wealth.  Their 1% wealth.  Without having to feel guilty about it.  Such as, presumably, The Daily Show’s Jon Stewart.

Jon Stewart is a very well-read and intelligent man.  He knows a lot of stuff.  Unfortunately, though, he draws many wrong conclusions with that knowledge.  He favors big government.  And a vast welfare state to help those in need.  He trusts government while distrusting corporations and businesses.  Because, as he has said, we have no vote with corporations and businesses like we do with government.  Via elections.  But he’s wrong.  We do have a vote with all corporations and businesses.  The moment they stop treating their customers right those customers go to other corporations and businesses.  Most new businesses fail within 5 years.  And some big companies that have been around for years fail and go out of business.  Why?  Because their customers DO have a large vote in whether they succeed or not.  And only those businesses that continually please their customers succeed.  Something you just can’t say about government.  For no matter how much they anger the people little ever changes.

Not only is there Income and Wealth Inequality there’s also Income Tax Inequality

Fox News has been talking about people scamming the welfare state.  Highlighting a surfer dude in California as a typical welfare cheat.  Stewart lambasted Fox News for that.  Saying one person (or two or three, etc.) does not mean all people on welfare are gaming the system.  Although he uses that very logic to point at corporations caught in wrong-doing.  Saying they represent all corporations and businesses.  And he joins the choir about how rich corporations and rich people are not paying their fair share of taxes.  And how some of these rich corporations and rich people are hiding their income and wealth from the taxman.  Despite their paying the lion’s share of all taxes.

According to the National Taxpayer’s Union, when it comes to income taxes it’s rich people paying the most.  So not only is there income and wealth inequality.  There’s also income tax inequality.  Through recent years the top 1% of income earners has paid approximately a third of all income taxes.  The top 5% has paid more than half of all income taxes.  And the top 10% of income earners has paid about 70% of all income taxes.  While the bottom 50% of income earners, the people rich liberals want to help, pay about 3% (or less) of all income taxes.

You don’t have to raise tax rates on the wealthy.  They’re already paying a disproportionate share of all income taxes.  In fact, if you cut tax rates and cut business regulations to help rich business and rich people get even richer more tax revenue would flow into the treasury.  This would be a good thing.  Rich people getting richer.  And more people becoming rich.  This should be what everyone wants.  Based on the amount of taxes rich people pay.  So we should stop trying to help the less fortunate by raising taxes on the rich.  And creating more onerous regulations for businesses that benefit the less fortunate.  Like Obamacare.  For it hurts the profit incentive.  Which prevents rich people from getting richer and paying more income taxes.  As well as dissuades people from becoming business owners or expanding their businesses.  Which means fewer jobs.  Fewer hours in those jobs.  And the replacement of costly people with machines.  It’s because of these things that median family income has fallen under the Obama administration.  Which is the last thing any good liberal should want.  This is why rich liberals have got to stop supporting a large welfare state to assuage their wealth guilt.  It’s killing the middle class.  And destroying the jobs that could pull the less fortunate into the middle class.  And beyond.

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FT154: “If you have wealth these days you better act like a liberal on the outside of the voting booth even if you don’t on the inside.” —Old Pithy

Posted by PITHOCRATES - January 25th, 2013

Fundamental Truth

Narcissistic Celebrities enjoy the Adoration but they still want the Obscene Wealth

Being rich.  It’s what everyone wants to be.  To be rich.  From the women that go to Hollywood to become rich actresses.  And the men who try to become rich actors.  To the musicians who try to make it big and become rich musicians.  It’s why people become a better athlete than anyone else.  To get a fat paycheck.  And endorsements.  So they can be rich.  And why women want to break the glass ceiling in corporations.  And get their face on the cover of Forbes.  So they can become richer.  Everyone wants to be rich.  For the expression is ‘rich and famous’.  Not just famous.  It’s the reason why ordinary people buy lotto tickets.  So they, too, can be rich.  For apparently being rich is where it’s at.  As everyone is trying to get there.

Being famous is one thing.  Having everyone know who they are and shower them with adoration is nice.  It’s why celebrities take to Twitter.  So everyone can read their pearls of wisdom.  For it strokes their narcissistic egos.  But they still want the Hollywood mansions, vacation homes throughout the country, the luxury cars, luxury yachts and the private jets.  In short they want to be able to afford anything that tickles their fancy.  So they can live lives better than the average schmuck out there.  They want to live like royalty.  And they want to be treated as royalty.

That said there is a war on the rich in the country.  The Democrats have demonized the so-called 1%.  Which would include all of the above.  In an effort to raise tax rates on those who can afford to pay more.  To make the 1% pay their ‘fair share’.  And the people are so in favor of this that they reelected President Obama.  So he can continue to right past wrongs.  And make the rich pay their fair share.  So they gather in support of their president.  With their torches and pitchforks.  Figuratively, of course.  And woe to anyone with a lot of money.

The First Rule about being Rich is Don’t Complain about your Taxes even if you pay Confiscatory Tax Rates

And they will do that right up until the day they come into money.  Then it’s, “Guess I didn’t hate the rich as much as I thought I did.  I mean, here I am.  I’m rich.  And I’m a pretty nice guy.  Nothing to hate here.  So let’s leave these good people alone.  At least, let’s leave me alone.  Put down those torches and pitchforks.  And let me enjoy my obscene wealth.  Because being filthy stinking rich is awesome.  My only regret is that I wasn’t filthy stinking rich sooner.”

Ah, yes, here’s the quandary.  How do I enjoy being everything that’s wrong with this country?  Being someone who is filthy stinking rich?  While not having people attack me for enjoying it?  For being filthy stinking rich?  How do I enjoy such great wealth inequality while being all for equality?  In theory at least.  Not in reality.  For equality is okay for the poor people.  But not for us filthy stinking rich actresses, actors, musicians and athletes.  I mean, one of the reasons of becoming so rich was to get away from the poor people.  Because who wants to live next door to one of them?

Well, first of all here’s what you don’t do.  You don’t complain about the taxes you pay.  Phil Mickelson (professional golfer) learned that lesson quickly.  After expressing a certain discontent that he can only keep about 37 cents of every dollar he earns he quickly issued an apology.  Because the sports media went ballistic when this rich guy complained.  So the first rule about being rich?  Don’t complain about your taxes.  Even if you pay confiscatory tax rates.  Because that will only invite people to get out the torches and pitchforks.  Figuratively, of course.

Celebrities are Openly Devout Liberals so they are Free to Enjoy their Filthy Stinking Wealth

That may be enough for some.  But if you want to be really rich as in filthy stinking rich you have to do more.  Not only do you NOT complain about your high tax rates you campaign to raise them even higher.  All while hiring some good tax accountants to figure out how not to pay your taxes.  Because you want to keep what’s yours.  Warren Buffet is one of the richest men in the world and yet no one picks on him.  Why?  Because he says we should raise taxes on rich people like him.  People like rich people that attack rich people.  So they will give this rich person a pass.  And reserve their hate for other rich people.

But if you really want to enjoy conspicuous levels of wealth you have to do more.  If you want to show off your mansions.  Your cars.  If you want to go to the finest restaurants and eat the finest foods.  Drink the finest wine.  The finest liquors.  Smoke the finest Cuban cigars.  Hang out with the most beautiful people in the world.  At the most beautiful resorts.  On the most beautiful yachts.  If you want to gamble at the big boy tables and get the red carpet treatment from the casinos.  If you really want to flaunt your wealth you have to do more than just support high tax rates.  You have to go all the way.  And be a liberal.  And support all the liberal causes.  And campaign for them in public.  Even campaign for liberal Democrats.  You do this and no one will attack you for your conspicuous displays of wealth.  Even while they’re attacking other rich people for their conspicuous displays of wealth.

So if you’ve ever wondered why so many rich actresses, actors, musicians and athletes are such devout liberals this is part of the reason why.  They just want to be left alone.  So they can enjoy their filthy stinking wealth.  And even though they’re richer than most we leave them alone.  Because they support liberal causes.  Even if they don’t believe in them.  Even if they’re Republicans.  Or closet-conservatives.  Even if they vote Republican once they enter the voting booth.  For as long as they act like a liberal on the outside of the voting booth people will leave them alone.  And they will be free to enjoy their filthy stinking wealth.

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FT132: “To settle CEO pay once and for all we should peg it to the pay of athletes, the Hollywood elite, musicians and authors.” -Old Pithy

Posted by PITHOCRATES - August 24th, 2012

Fundamental Truth

Sports Stars only Work Part Time yet they Earn almost as Much as CEOs

It’s open season on rich CEOs.  From the Occupy Wall Street movement to the Obama Campaign attacks on Republican candidate Mitt Romney.  CEOs are too rich.  They don’t pay enough in taxes.  And they hate children.  Because they oppose higher tax rates on their income.  Which can only mean one thing.  They hate children.  At least if you listen to those on the Left.

So how well paid are they?  Well, they are paid well.  But not as well as some well-paid rich people.  Especially those typically associated with the Left.  High earning sports stars.  High earning Hollywood elites.  High earning superstars in music.  And high earning authors.  There are some conservatives in these fields.  But it’s hard to know who they are.  Because they tend to hide their politics to avoid undue attention on themselves.  Whereas liberals can be as outspoken and as critical of conservatives as they wish and never bring any undue scrutiny on their incredible high earnings.  Why?  It is the great unspoken rule in being filthy rich.  If you are an outspoken liberal you can be as filthy rich as you want and you will never hear an unkind word about your obscene wealth.  So let’s look at some filthy rich people.  Let’s look at the top 10 annual earners in the following sectors (see links above for source information):

Of the sectors shown CEOs are only richer than sports stars.  But not by much.  Which says a lot about the earnings of sports stars.  For sports are seasonal.  They have off-seasons.  And yet they make almost as much as CEOs.  Who work year round.  But other than the part-time sports stars the filthy rich CEOs are less filthy rich than the Hollywood elites, superstars in music and authors.

No One says that Musicians Earn too Much even though they Earn More than CEOs who Earn too Much

The median household income at the end of 2011 was $ 51,413.  Some may say this is rich.  If you’re making minimum wage perhaps it is rich.  But it’s a long way from those noted above.  Interestingly many of these people will say CEOs earn too much.  Some may even say these sports megastars earn too much.  But not many.  Few if any will criticize Hollywood elites, superstars in music and authors.  Even though they live a far better life than they could ever imagine.  Why?  Because these rich people say they care for the little guy.  And support Democrat candidates for office.  Which, of course, takes the spotlight off of their obscene wealth.  And they can insulate their lives from the policies of Democrats.  Which tend to be anti-business.  Including high taxes.  A complicated tax code.  And high regulatory compliance costs.  So CEOs tend to support Republican candidates.  Who tend to fight the anti-business policies of Democrats.  Because they hurt the businesses they’re responsible for.  Which, of course, makes them look greedy.  And like they hate children.

So how do these filthy rich people compare to the median household income?  Like this:

The sports megastars are the pauper of the group.  They only earn 780 times the median household income.  Musicians are the filthiest of the rich coming in at 1,701 times the median household income.  Meaning the average income of the top ten superstars in music equal the median income of 1,701 households added together.  Another 687 households more than the average income of the top ten CEOs.  Yet people say CEOs earn too much.  But no one says that musicians earn too much.  Even though they earn more than those who earn too much.

If CEOs are Overpaid then so Must Everyone who is Paid More than Them

People tend to pick on CEOs.  Because they are highly compensated.  Not as highly as musicians, the Hollywood elite or authors.  But highly.  They get those high compensations for a reason, though.  A few bad decisions at the top can ruin a successful business.  Whereas the CEO who consistently makes good decisions will make a business grow.  Creating wealth.  And jobs.  At the CEO’s business.  And all the businesses that feed into it.  Thanks to the stages of production.  So a good CEO can create a lot of economic activity.  Wealth.  And jobs.  Not to mention a whole lot of tax revenue.  Which fund all those Democrat programs.  Including the ones for children.

The other filthy rich create jobs, too.  And wealth.  But nowhere near what a good CEO can create.  For few of them are singularly responsible for building their industries.  Unlike a John D. Rockefeller.  An Andrew Carnegie.  A George Westinghouse.  Or a Steve Jobs.  These people changed the world.  And put hundreds of millions of people to work through the years.  Compared to the limited economic activity a pop star creates.  A movie star.  An author.  Or an athlete.

So a CEO creates more wealth and jobs for others than most filthy rich people.  And they create more tax revenue at all levels of government than most filthy rich people.  So one would think they would deserve higher compensation for all the good they do.  But no.  At least according to those on the Left.  So what would be fair?  Call them musicians?  Movie stars?  Authors?  If so then we could even pay them more.  For no one complains about their high compensation.  Or should we cut their pay?  As well as musicians, movie stars and authors?  And sports stars?  Pay them all less.  For if CEOs are overpaid then so must everyone who is paid more than them.  Of course that probably wouldn’t go over well with the athletes, the Hollywood elite, the musicians and the authors.  So perhaps to settle the CEO pay issue once and for all we should peg it to a weighted average of the pay of athletes, the Hollywood Elite, musicians and authors.  So the amount of compensation just doesn’t matter anymore.  Because they will be as filthy rich as the people the Left has no problem with being filthy rich.

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