Large Scale Central

Atlas Shrugged Part 1

C. Nelson said:
David I have to respectfully disagree, the dollar is worth far less now than it was before the [b]Creature from Jekyll Island[/b] came into being....1913 the Federal Reserve was sprung on the populace...we've gone downhill from there. The dollar has lost about 96% of it's value in a few years less than 100.
My mistake, the hourly wage will buy the same today as it did in 1960ish.

What one could buy in 1965 for $1,000 today will cost you $10,000. A gallon of gas then was $.35, today $3.50. An ounce of gold then $35 today it $1,5000 per ounce. Milk was $.95 or 12 minutes labor, today is $3.60/gallon or about 12 minutes labor.

David Hill said:
Bob McCown said:
David Hill said:
The annual salary of a worker today buys about the same as it did in 1960.
Yea, not so much.

http://www.rso.cornell.edu/progressive/articles.php?id=71


Try this on for size:
http://www.measuringworth.com/calculators/compare/

Yep, which shows me that the average salary in 1960 ($4,080, US Census data) in 1960 is $33,600.00 in 2005. Call it 823%. That’s just simple adjustment for inflation. No argument there. Now lets compare 1960 to 2005 in terms of cost of a couple of of items.

1960:

Average Cost of new house $12,700.00
Cost of a gallon of Gas 25 cents

2005:

Average Cost of new house $297,000.00 (2197% increase)
Cost of a gallon of Gas $3.18 (1272% increase)

If I was buying as much in 2005 as my dad did in 1960, I’d be paying 141,000 for a house.

How ever Bob you will note that the value of the average home is coming down. Around here they knock off 10K and still can’t sell. In the early 60’s I was making 700.00 plus and we got by fine with one wife and 3 kids, but we did not go out to dinner all the time, didn’t have to have a gym membership to keep the weight off. and did not drive the newest and best car around. It requires the kiss principal. right now we are get by on a bit more than Milk is living on, so it can be done.

Paul

Quote:
... If it wasn't for the big mean corporations you would not have a computer, telephone, electricity, automobile, food on the table, internet access, or, in most cases a job or retirement investments.
And if it wasn't for the big, mean government, you'd be speaking Russian (or German, or French, or for that matter, wouldn't be here because it was government-granted charters which started the colonies in the first place...), you wouldn't have [i]any[/i] possessions because crime would be rampant, and you very may well not even be alive because there would be no emergency services to respond when needed, such as when someone came to rob you and you got into a gunfight with them.

No one’s arguing that big business doesn’t play in integral role in the economy. Of course it does. The argument is being made–and is historically well supported–that abuse of power, be it from corporations or government, must be kept in check for the good of a stable society. Corporations exist to make money. They don’t exist to give people decent wages or even treat them fairly. There’s no moral or social responsibility mandate for a corporation. Everything a corporation does is guided by the bottom line. If they pay a decent wage and give good benefits, it’s because they value the unique contributions their employees make to supporting their mission of making money for the shareholders. If they treat workers like vermin, it’s because they can get away with it without negatively impacting the bottom line. If a corporation is “a good corporate citizen” of a community, it’s because the community has a greater degree of leverage against the corporation where violating that level of “trust” (if you can call it that) would negatively impact their bottom line. (The “kiss-up” quotient.) That’s the reality. That’s why workers have to stand up and make the corporations value their contributions, treat them fairly, and protect their jobs. The corporations are under no obligation to do any of that. If their shareholders are happy, that’s all they care about.

Quote:
... Try this on for size: http://www.measuringworth.com/calculators/compare/
Interesting site, but it works against supporting your premise by virtue of the disparity in values depending on which of the featured calculations you use. No conclusions can be firmly drawn from the vastly different results each calculation gives. Most economists agree, however, that the buying power of the dollar was at its maximum in the 50s and 60s. (Interestingly, that's also a time when corporate and personal tax rates were at their highest because we had to, oh, pay for a war that recently ended...)
Quote:
... I still have my budget someplace from when I was earning the equivalent of $12/hr with a family. It can be done, but not with all the crap people think they "need".
I'm glad you could make it work, but what's the point you're making? I'm sure we all could if push came to shove, just to survive. But that doesn't mean it's desirable. We've worked hard and educated ourselves to get to where we are--most of us would like to see that preserved, if not continue improving it.
Quote:
... My quarrel is with the union thug bosses, who do not have the interests of their membership at heart.
Steve, you've hit the nail on the head. The problem is that [i]everyone's[/i] playing to their own personal interests, and they're often cross purposes and in many cases contrary to what they're supposed to be doing. Corporations exist to make money. That's the easy one. No surprises, no pulled punches. We know what they are and what motivates them. Then there's "we the people." Collectively, we exist to make money, too. Unfortunately that cuts into the corporations' mission of making money because they'd rather have it for themselves and their shareholders than having to pay it to their workers as an expense. So, "we the people" turn to two organizations--the labor unions and the government. Both organizations exist to protect its members (citizens). And when they work, it's a good thing. Many unions do a good job of representing the needs of their membership. But when they decide to take political stands to "make a point," it begins to get a bit murky as to whether they've really got the best interests of their membership in mind. The same holds true for government. "We the people" elect our representatives. The problem is that once they're in office, they often forget that they actually represent [i]us,[/i] and pick and choose their stances based on who's contributing more to their re-election campaign. Since "we the people" typically lack the organized means to funnel vast sums of money into their war chests, the corporate interests win that battle, and "we the people" lose out.

He who has the gold makes the rules.

Later,

K

David Hill said:
I still have my budget someplace from when I was earning the equivalent of $12/hr with a family. It can be done, but not with all the crap people think they "need".
You are right. I don't [u]NEED[/u] my computer OR my trains, which BTW, I either MOSTLY bought BEFORE I got sick, or built with my own two hands from other folk's cast offs....

HOW-BLOODY-EVER -------

Should I HAVE to rely upon food cupboards and soup kitchens for basic survival? Should I be required to shiver in the dark, so someone else can afford a bigger vacation home? Being disabled, I CANNOT “get a job”, and if I DID the health insurance would NOT cover my “pre-existing conditions” and the nearly $1500 a MONTH in medication.

Should my son have to work 3 jobs to live in what is basically a ghetto, while GE can pay no taxes, or Boeing can get $5.3 billion in illegal subsidies?

http://nycaviation.com/2011/03/wto-rules-boeing-received-5-3-billion-in-illegal-government-subsidies

As bad as the liberal mindset may bankrupt the US financially, the Tea Party one will bankrupt it socially and ethically.

Bob McCown said:
David Hill said:
Bob McCown said:
Yea, not so much.

http://www.rso.cornell.edu/progressive/articles.php?id=71


Try this on for size:
http://www.measuringworth.com/calculators/compare/

Yep, which shows me that the average salary in 1960 ($4,080, US Census data) in 1960 is $33,600.00 in 2005. Call it 823%. That’s just simple adjustment for inflation. No argument there. Now lets compare 1960 to 2005 in terms of cost of a couple of of items.

1960:

Average Cost of new house $12,700.00
Cost of a gallon of Gas 25 cents

2005:

Average Cost of new house $297,000.00 (2197% increase)
Cost of a gallon of Gas $3.18 (1272% increase)

If I was buying as much in 2005 as my dad did in 1960, I’d be paying 141,000 for a house.


Would you convert these numbers into hours of labor for an average laborer?

Mik, how is my vacation home denying you of heat in the winter?

Kevin I owned a few businesses in my time, a good worker is worth his weight in gold, and are very difficult to find and keep. The jerks in big corporations are the managers that mistreat the best and most industrious. Unions do not permit merit promotions, only seniority, so why try hard. Unions protect the lazy.

25c for a gallon gas is 12.7% of an hour in 1960 wage ($4080 divided by 2080 hours/year). 3.18 per gallon is 19.7% in 2005 wage. That’s, what, 25% difference? Fairly significant.

Kevin said:
...there would be no emergency services to respond when needed, such as when someone came to rob you and you got into a gunfight with them.
That's right, Kevin, when seconds count, the Sheriff is only minutes away. I'druther have the ability to engage in a gun fight. It will make the bad guys think twice about attacking my castle. But, I digress. :P
Kevin said:
The argument is being made--and is historically well supported--that abuse of power, be it from corporations or government, must be kept in check for the good of a stable society.
Don't forget to include abuse of power by the unions.

How, David? Haven’t you been reading the news on the budget battles? Medicaid to be cut. Medicare to be cut. Energy assistance to the poor to be cut… all sacrificed to the God of reducing the deficit. YET allowing the tax cuts to the uber wealthy to expire (to help accomplish the same thing) is sacrosanct. WHY?

No, at this point I don’t expect you to understand. Just like this woman had folks on as ‘guests’ then talked over them because they weren’t parroting the party line.
http://www.foxnews.com/on-air/oreilly/transcript/patriotic-millionaires-push-pay-higher-taxes

Bob McCown said:
25c for a gallon gas is 12.7% of an hour in 1960 wage ($4080 divided by 2080 hours/year). 3.18 per gallon is 19.7% in 2005 wage. That's, what, 25% difference? Fairly significant.
In 1960 average wage was $4010. A gallon of gas was $0.25 or about .2 hours wage, about 12 minutes. Today averages wage is about $42,000 a gallon of gas locally is $3.75 or about .2 hours labor/12 minutes.

When I was a kid, a competent bricklayer could lay 1200 bricks in an eight hour day. The union limited him to 850 bricks/day.

Now, I understand it is even less.

Evil corporations? There’s enough nonsense to go around, says me.

Mik said:
How, David? Haven’t you been reading the news on the budget battles? Medicaid to be cut. Medicare to be cut. Energy assistance to the poor to be cut… all sacrificed to the God of reducing the deficit. YET allowing the tax cuts to the uber wealthy to expire (to help accomplish the same thing) is sacrosanct. WHY? No, at this point I don’t expect you to understand. Just like this woman had folks on as ‘guests’ then talked over them because they weren’t parroting the party line. http://www.foxnews.com/on-air/oreilly/transcript/patriotic-millionaires-push-pay-higher-taxes

Has a poor man ever given you a job? Can a poor man open a new store/factory in your hometown to hire new employees? A very common misconception among those folks engaged in class warfare is that the wealthy hide their cash in a vault or under their mattress.

(http://givemetherock.com/wp-content/uploads/scrooge-mcduck.jpg)

They build shopping malls, apartment buildings, trailer courts, stocks and bonds to bolster business and provide working capital and retirement incomes.

Sorry David. I’m not buying it. Too many years of bad bosses that could give a crap about their employees, but thought they were the best in the county? Maybe. Too many years of companies closing up and moving elsewhere (like India) to save a few dollars on labor putting family and friends into financial crisis. Yes. Too many years of ultra cons sneering at me for being on disability because mine isn’t visually obvious - AND not so subtly hinting I don’t “deserve” to live in the US? Yes. Too many years of hearing self-serving platitudes pushed off as universal truths? Yep, that too.

Like I said before, I didn’t expect you to understand. Just like you don’t seem to comprehend that making the poor’s lot worse won’t make the middle class’ better. You are right. It the rich don’t hoard money in their mattress, but neither do they put it to work in ways that benefit others if they can make more elsewhere. Your argument is true. Barely. But you chose to ignore how companies can be making record profits, the rich can be getting richer, and the rest are stagnating or falling behind… The rich work ‘harder’? Hardly. The rich have rigged the game to keep them rich -even at the expense of others? That’s probably closers to the truth.

Are there good bosses and business owners? Yes. Are there magnanimous and generous philanthropists? Yes. Are there rich selfish bums too? Are there greedy grasping corporations that despoil the planet and destroy lives in the name of the almighty dollar? Just because something is legal doesn’t make it right. Just because (you) may not have a moral compass that compels compassion means you live in a vacuum that what (you) do, or don’t do, doesn’t affect others negatively. Making the poor even poorer helps those who already HAVE more than the average person earns in several lifetimes, HOW? I’m going to stop now before I say something to tip this discussion over into incivility.

Have a lovely day.

David Hill said:
They build shopping malls, apartment buildings, trailer courts, stocks and bonds to bolster business and provide working capital and retirement incomes.
No, They used to do that before they lowered the Capital Gains Tax. Now they speculate in the commodities, and other financial markets and pay less tax on their earnings than if they had worked for it.

All the building the last 20 years. Leveraged. Just like the corporate buyouts. The Fed was doling out cheap money and the banks couldn’t lend it fast enough.
The Banks are still falling by the wayside, something like 170 last year. I think they’re predicting 140 this year.
Ralph

Hating the wealthy will still not improve your situation. Regardless of how crooked they are or how much of a bonus they get. The only thing I believe is obscene is the businesses Congress gave taxpayer’s money to and they sent much of it overseas and to the UAW.

Just for the Americans today: http://www.youtube.com/watch?v=lWAl5V-SiKQ

David. I don’t hate the wealthy. I don’t even hate the arrogant, the blindly selfish, the self-righteous, the smug, and those who follow them… I think they are going to destroy the country they claim they want to preserve. But I don’t hate them.

The government didn’t bail out the UAW, it bailed out the OWNERS - who promptly screwed the workers out of their retirements. It bailed out the big banks that CREATED the mess we’re in - who in turn used a lot of that money to pay themselves fat bonuses. If you’re going to be mad, at least get your facts straight.

David Hill said:
Hating the wealthy will still not improve your situation. Regardless of how crooked they are or how much of a bonus they get. The only thing I believe is obscene is the businesses Congress gave taxpayer's money to and they sent much of it overseas and to the UAW.
I want to fix inequities in the tax codes that allow companies like GE to get a 3.2 billion dollar gift from the taxpayer. I want to fix the inequities in the tax code that encourage speculation rather than real investment. Has nothing to do with hating the wealthy. Has nothing to do with "class warfare". I criticize welfare cheats and disability frauds too. You can add to the list the Healthcare and Insurance industries and more things than I can name in a day. Ralph
Mik said:
David. I don't hate the wealthy. I don't even hate the arrogant, the blindly selfish, the self-righteous, the smug, and those who follow them..... I think they are going to destroy the country they claim they want to preserve. But I don't hate them.

The government didn’t bail out the UAW, it bailed out the OWNERS - who promptly screwed the workers out of their retirements. It bailed out the big banks that CREATED the mess we’re in - who in turn used a lot of that money to pay themselves fat bonuses. If you’re going to be mad, at least get your facts straight.


FYI, there were “Bond Holders” at General Motors, who by contract with GM have third position for payment of dividends. They were not paid, by order of the Federal Government and the UAW was given part ownership of General Motors instead. Research that yourself if you doubt what I wrote.