Dude, if your educated opinion is that earning a Doctorate of Medicine automatically puts you into the 1% of income then I suggest you do some fact based research instead of guessing. In my profession, guessing and educated opinions get people killed.
Enjoy the benefits of a premium membership!
Upgrade Account
-
TalkBass has been independent since 1998. Add your voice.
Create a free account to reply to discussions, view embedded media, and browse with fewer display ads.
Join free Log in
Want zero display ads or expanded classifieds tools? Compare plans.
US income inequality at record high
- Thread starter Tony Flow MMMM
- Start date
- Status
Dude, if your educated opinion is that earning a Doctorate of Medicine automatically puts you into the 1% of income then I suggest you do some fact based research instead of guessing. In my profession, guessing and educated opinions get people killed.
First, I didn't say that earning an MD automatically places you in the top 1%. I said that many of those in the 1% could have MDs - the same way I said that many in the 1% may have law degrees, but I didn't say that having a law degree or being an attorney places you in the 1% (i.e., most attorneys are middle-class). Second, I said I was unsure of the existence of any statistics that broke down the country's most wealthy individuals by education, so I thought I was pretty upfront with my post being conjecture. Third, I guess it's a good thing that statements on TB aren't a life-or-death thing (for the most part,
).
Did you "move up" to the elevated stratosphere of the gods? Getting a "sweet job" doesn't mean anything.
Wow, this picked up fast. Or went downhill fast. I can't tell.
Why do people not focus more on what they can do in a bad economy and less on what got them? Most people who spend time debating it don't then go and call their representatives or form an action group. I think it's far more fruitful to spend that time figuring out how you're going to be successful despite it all. I'm also of the opinion that as more people find ways to be successful, whatever their definition is, the overall economy has to increase -- it's made of the macroeconomy of millions of people.
Why do people not focus more on what they can do in a bad economy and less on what got them? Most people who spend time debating it don't then go and call their representatives or form an action group. I think it's far more fruitful to spend that time figuring out how you're going to be successful despite it all. I'm also of the opinion that as more people find ways to be successful, whatever their definition is, the overall economy has to increase -- it's made of the macroeconomy of millions of people.
in 1927, we were only two years away from the market crash...
Most people in this country are only one serious life event away from poverty. A divorce, illness, or job loss would devastate most of us.
Answer some simple questions:
If you lost your job today, how long could you make house payments? Buy food? Afford to pay for COBRA?
If you had a major illness and could not work for a year and accrued $100,000 in medical bills could you maintain your current standard of living?
If you got a divorce and had to pay child/spousal support equaling at least half your paycheck for the next 10 years, how would you manage?
Then- ask yourself- if you couldn't cope with those situations, what could you give up to assure you had a roof over your head, food in your mouth, and money for basic expenses?
Most of us can not cope with these scenarios. Not everyone on welfare was born that way, a lot of GOOD people get stuck in the cycle of poverty through no fault of their own. Once you're there, it's extremely difficult to get out- credit gets ruined and you can't get a car, rent a house, and some places even get a job. You become STUCK.
HOWEVER, once you are wealthy it becomes very easy to become even wealthier- through connections for better employment, elite clubs that give discounts on things, better interest rates on mortgages, credit cards, etc.
Most people in this country are only one serious life event away from poverty. A divorce, illness, or job loss would devastate most of us.
Answer some simple questions:
If you lost your job today, how long could you make house payments? Buy food? Afford to pay for COBRA?
If you had a major illness and could not work for a year and accrued $100,000 in medical bills could you maintain your current standard of living?
If you got a divorce and had to pay child/spousal support equaling at least half your paycheck for the next 10 years, how would you manage?
Then- ask yourself- if you couldn't cope with those situations, what could you give up to assure you had a roof over your head, food in your mouth, and money for basic expenses?
Most of us can not cope with these scenarios. Not everyone on welfare was born that way, a lot of GOOD people get stuck in the cycle of poverty through no fault of their own. Once you're there, it's extremely difficult to get out- credit gets ruined and you can't get a car, rent a house, and some places even get a job. You become STUCK.
HOWEVER, once you are wealthy it becomes very easy to become even wealthier- through connections for better employment, elite clubs that give discounts on things, better interest rates on mortgages, credit cards, etc.
What is stated above is why I think employers have no right to ask you about your credit. But they have their excuses and we just accept it.
Cuter than arguing about what world powers put us in the mess.
I'm not denying it exists. I'm saying that the same energy some people put into talking about why we're in the mess could be put towards getting to higher, dryer ground.
I've always said that unless the position requires one to be in a fiduciary role, then credit scores should have no bearing on a hiring decision. Show me good criterion validity for credit scores and performing the duties of a position and I'll be a little more sympathetic to inquiring about credit scores in hiring decisions. Until then, I'm skeptical that credit scores are predictive of fulfilling the duties of a non-fiduciary job.
It's more about a security of information and intellectual property (in case you didn't know, the Chinese are paying pretty well for that stuff when they aren't stealing it outright by hacking computer systems). Excessive Indebtedness is one of the 14 criterium both government and corporate spies use to evaluate a subject's aptitude for spying and/or sabotage on their behalf.
'Course it only took Corporate America about 50 years to catch onto the game.
Peace,
Greg
Theres often an excuse of, get a job, or If you don't make enough, stop spending or get another job or get a second job...
The problem, is, The basic cost of living. How low the minimum wage is, and how low it would go if we eliminated it. And if you DO get that second job..You almost better not tell your first job. Can't tell you how many interviews I've gone through where the employer more or less tells you, if we hire you, we own you. So whatever you think your schedule is, don't bet on it. And don't tell us you can't work such and such day because you have a second job, your first priority is with us!........
Thats nice...If You are my first priority....why don't you pay me like it.
Recently the excuse has been..you know..Mcdonalds is just a stepping stone to a better job...With who? Burger King? Olive Garden? And if you know how low they get paid, you know college is out of the question.
The problem, is, The basic cost of living. How low the minimum wage is, and how low it would go if we eliminated it. And if you DO get that second job..You almost better not tell your first job. Can't tell you how many interviews I've gone through where the employer more or less tells you, if we hire you, we own you. So whatever you think your schedule is, don't bet on it. And don't tell us you can't work such and such day because you have a second job, your first priority is with us!........
Thats nice...If You are my first priority....why don't you pay me like it.
Recently the excuse has been..you know..Mcdonalds is just a stepping stone to a better job...With who? Burger King? Olive Garden? And if you know how low they get paid, you know college is out of the question.
Interesting. The corporate spying stuff can get pretty intense. I watched a documentary a while ago in which a corporate spy was interviewed. Some of the moral gymnastics he did to justify some of the stuff he did (e.g., posing as a headhunter and then pumping "candidates" for corporate information) was rather intriguing. Former Blackwater associates actually have a "corporate intelligence" division called Operation Jellyfish.
6jase5
Mammogram is down but I'm working manually
Oddly enough I don't have a single friend from college (which I had loans for - no rich daddy here) that didn't work hard, got internships, worked crazy hours for years and now isn't making at least 100K unless they personally picked a profession that makes less (some teachers, city planning engineers, etc.).
I'm talking about quite a few people and did not include the ones that loafed their way through the system. Seems as though if you study, work hard, take advantage of opportunities in almost any field of practice and don't waste time complaining, it really isn't all that hard to make a decent buck in the US. College is a waste of time you say? Ok, sure, statistics are useless too.
One of our friends that makes the most and my old roommate (hedge fund guy, WAY up in the .1%) came from the least, tended bar to pay for his MBA and really loves when he's "blamed" for milking pensions and outsourcing everything. As if that's what they all do versus the reality which is most of them stressing about people's retirement money getting the returns they expect. Just because you can buy a house with your debit card doesn't mean some of these guys don't go to bed with the weight of a million people hoping to retire on their minds.
Worry about your own money and if you don't like your paycheck, try occupying the mirror.
I'm talking about quite a few people and did not include the ones that loafed their way through the system. Seems as though if you study, work hard, take advantage of opportunities in almost any field of practice and don't waste time complaining, it really isn't all that hard to make a decent buck in the US. College is a waste of time you say? Ok, sure, statistics are useless too.
One of our friends that makes the most and my old roommate (hedge fund guy, WAY up in the .1%) came from the least, tended bar to pay for his MBA and really loves when he's "blamed" for milking pensions and outsourcing everything. As if that's what they all do versus the reality which is most of them stressing about people's retirement money getting the returns they expect. Just because you can buy a house with your debit card doesn't mean some of these guys don't go to bed with the weight of a million people hoping to retire on their minds.
Worry about your own money and if you don't like your paycheck, try occupying the mirror.
This is a great point .
And makes my head spin when people in this class bash labor organization and representation, in other words labor unions .
The 1% doesn't want unions ,and has been very successful in convincing the bottom they don't need them.
I predict there will be another big labor movement in the next 25 years.
In the 1930's my grandfather had to wait at home for the phone to ring telling him there was work. The call could come at any time . If you didn't answer your phone they called the next guy . If you didn't answer enough they crossed your name off the list. This was a very large company who eventually went union . He worked there until retirement and had a decent life because his income was consistent and his job was fairly secure.
I know people who are on call for retail jobs. We are talking jobs at the mall.
We are going backwards people , not forwards.
This thread has made me sad. Not because of the various viewpoints being discussed (sometimes...let us say, emphatically), but because of the subject matter.
So, people who have no health insurance can't apply to SS and get benefits, including Medicare/Medicaid? Title IXX doesn't help people when they have no insurance or are under-insured?
Greed comes to anyone who'll accept it and other people are the victims but many people gave up trying to get ahead at a very young age and that's a problem for everyone. Some never give up and they sometimes get the prizes.
You think all white collar people are crooks?
- Status
