Rich vs. Poor, we're all buddies here

I don't think the moderate and below moderate income begrudge their better off's inherently. When someone sees someone else drive a better car or have a better job I don't think there is a natural inclination to dislike them. There might be a momentary flash of jealosy but it is quickly fleeting and filled with a sense of pride of being the working man or woman. What does anger regular people is those wealthy who take advantage of us regular folks. Those who preside over companies who go bankrupt and walk away with bundles of money or those who lend with high usuary and unfair business practices. When we hear of practices to tax the rich we applaud because we think of those who take advantage of us unfairly and not those who build buisnesses and employee people. I worked once for a company that was started by two men in a garage fifty years ago. He employeed almost a thousand people at the companies peak. The original owner owned 51% of the common stock therefore he pretty much called all the shots. I had nothign against the man. In my current company they had a 1-2% raise this year followed by a two week unpaid furlogh. That means employees lost 2-3% of their salary this year. We actually earned less this year than last. We all understand that we need to make sacrifices in this tough economy and we got to keep our jobs. Then we find out that the CEO made a 30 million dollar bonus which was 50%+ more than last years bonus. This is kind of a craw for us who are making sacrifices. It could be said that our sacrifice made his bonus. So, in that way the moderate of income begrudge the top class. Maybe I'm wrong, maybe he deserves his big bonus for saving the company from financial ruin. The interesting thing is this particular man is bosum buddies with a certain President by the name of Barak Obama. Oh, he's been to the press conferences and been lauded for creating jobs. From what I see we are constantly buying companies here in the states, closing them down, laying off employees and moving those jobs oversees. My company is a net exporter of jobs. Why would the stimulus man applaud a job exporter?

Why I agree with credit card legislation

I've heard many people call this piece of legislation socialisitic and I think people are a bit confused about what socialism is and isn't. Socialism is a system whereby everybody takes responsibility for everything. In it's extreme it's a horrible system to govern and even worse to regulate the economy. That doesn't mean all regulation is socialistic if it seeks to put limits on what companies and consumers can and can't do and make business more transparent. Credit cards are esentially un secured debt so they should be at a higher rate with some fees but what credit card companies have done is make the fees difficult to understand, easy to trigger and kept many in a never ending cycle of debt. They also have targeted young adults on college campuses and given out more credit than should have been given out. They weren't forced as in the case with some of the mortgage lenders they willingly gave out credit cards with high balances and misleading advertisments in some case bribing college officials. Here are some examples of credit card abuses.

0% for one year on a credit card from a store (if you don't pay it back on time you acrew all the interest at 24% for a year). I applied for a $500 tv and received a $5000 credit limit.

Pay off a credit card 4 days in advance and they apply it the day after it's due and charge you a $40 fee.

Pay off a credit card in full but they apply interest every half cycle so you're left with a small balance.

Pay the minimum for 40 years to pay off a credit card.

There are many many more deceptive advertsiements. The bill in congress is a way of establishing standard practices and making the business of credit cards more reasonable.

I am VERY UNHAPPY with Barak Obama's spending and over involvement in various industries but that doesn't mean everything he does is bad. It's not about give the guy a chance, it's about say what he does good and what he does bad and why.

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