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Tuesday, May 22, 2012

Wealth and the Left

I was thinking the other day about how millionaires make their money, and about left-wing protesters who object to it.

We've heard a lot about Occupy - they object to folks on Wall Street making what they consider "obscene" amounts of money. Wage protesters also complain about folks in industries such as manufacturing and pharma as making too much money. Other millionaires seem to have escaped their scrutiny - billionaires such as George Soros, and that bastion of the left: Hollywood.

It's pretty clear that the protests are a political left versus right kinda thing.  However, there are so many problems with all of this.  For example, the Wall Streeters - who by the way need no sympathy from anyone - make their money by assisting others in making their own wealth.  It's how Wall Street works. The industrialists make their money in 2 ways: first they do it by creating a product, and then hiring others to make that product. Then they do the the same thing as the Wall Streeters - they help investors in their company attain wealth. The Pharma companies not only manufacture drugs, but they also create new ones that cure diseases, or assist in the maintenance of a good life if one has something that's incurable.

But what about other mega-high wage earners? What about Hollywood and pro sports? The Occupier types not wanting to take on their political own (eg Hollywood), what do these groups contribute to society.  Well, they entertain us.  That's good.  But isn't it a parasitic profession that only takes wealth, but doesn't create it all around?  It seems to me that the whole notion of "giving back", which is a phrase ultra-popular in the left - is more in tune with what Wall Street and conservative manufacturing does, rather than any other sector of large wage earners in our country.

And then in a special category of parasite is Soros - one of the most left wing people in the world, who is also one of the wealthiest in the world. Know how he makes his money? From currency exchanges and money manipulation. So, while he's basically a Wall Streeter, he's not they kind who helps others create wealth.  Rather, he's the kind who makes money off of the misfortunes of others. He's the kind the Occupiers are complaining about. Yet not a word from them about him.

It seems to me that if one is going to complain about high wages, he ought to do it across the board.  I've not heard the name "Soros" uttered by any of the left-wing complainers. I've only heard complaints about guys who get rich making other people rich.


Obama Keeps Bain In His Cross Hairs - WSJ.com