“No one can earn a million dollars honestly.”
— William Jennings Bryan
1%, 99 percent, 99%, american dream, bootstraps, corrupt congress, empathy, greed, millionare, one percent, Poverty, wall street, william jennings bryan
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#1 by Otrazhenie on August 3, 2013 - 12:30 AM
Hm, I am afraid the author of that quote has not done much research on that subject. Check out “The millionaire next door: the surprising secrets of America’s wealthy” by Thomans Stanley and William Danko based on their 20-year-long PHd research. You can find an excerpt from this book at http://otrazhenie.wordpress.com/2012/09/05/by-sowing-frugality-we-reap-liberty/ 🙂
#2 by popreflection on August 3, 2013 - 1:12 AM
Who are the millionaires today? I dont mean people who work a lifetime and then maybe end up having a million dollars in their retirement funds. I mean who makes a million dollars today? Bankers and those who have jobs that help others make money, such as A-list movie stars, athletes, reality TV stars, A-list directors and movie makers. The same actor that makes $100,000 an episode – which is twice the annual median income in the US – works with a crew of people who mostly all make minimum wage working long hours on the sets. They all have to get paid little so the star can get paid 2 million an episode or 20 million a movie. The same goes for athletes. And the same goes for investment bankers: you know, the ones that got us into this mess and then were escorted out with bonus checks and are now posting record profits. They are the ones who are millionaires. They are the ones who were able to navigate and cheat their way through the crisis and meltdown they caused and who are now 23 years old, working for Goldman Sachs making half a million dollars a year, including bonuses and stock options while the people with whose futures they gamble with have to eek by on a fraction of what he makes, with the added stress of no job security and basically a paycheck away from destitution – despite hard work.
And how was all that money made? The same way it was made before the meltdown: speculate with peoples lives, help the CEO make 80 mllion a year and if he has to leave because of some scandal that became public, let go with a golden parachute. They made money by creating hedge funds intended to fail, so they can make money betting against them. These they then sold to their customers knowing they were worthless. In addition to the people who have lost their revetments and futures and homes already, a lot more people are at risk because after all the cheating and stealing no one was escorted out of wall street with handcuffs. And why? Becasue of pure greed.
Millionaires the honest way? Sure, if you look at it from a legal standpoint. They technically did not steal. But from an ethical standpoint, how they arrived at those riches, not very ethical. And that’s the point of the quote. If you make it fast and hard you most probably did it so stepping on a whole lot of people.
#3 by Otrazhenie on August 3, 2013 - 1:21 AM
Totally agree with you on that. There are plenty of such ‘millionaires’ all over the world, who got their money in un-ethical ways and do not care about anyone else on this planet. It is just the quote without such contextual information was not very clear. 🙂
#4 by Otrazhenie on August 3, 2013 - 1:47 AM
Not all pop stars and movie star are bad either. While some of them (probably, even most of them) are very selfish and care only about themselves, a few of them are spending their millions for the benefit of others. As an example, check out the work of Jon Bon Jovi’s Soul Foundation and Soul Kitchen – see links provided at http://otrazhenie.wordpress.com/2013/03/12/livin-on-a-prayer/
#5 by popreflection on August 3, 2013 - 8:53 AM
That some people engage in charity, which is a TAX deduction mind you, is irrelevant. I am not saying movie stars are bad people for making that amount of money, I am pointing out that it is not human rights activists who do, it is movie stars. I am hard pressed to see why some actor who barely graduated high school and dropped out of college should make millions per movie while the person being on the ground in Somalia offering humanitarian aide has to declare bankruptcy. Again, the movie star helps others make money, but there is no profit in human rights activism.
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