Letter to Feinstein

[blue_sky]

1. taking “excess” money from his customers

OR

2. not paying his employees or suppliers enough (taking “excess” money from them)

OR

3. both

CA Renter, your argument false (though it has not always been so, in many periods of history, wealth was generally accumulated by stealing it by force)

If case 1 is true, you should start a company and undercut his price, get all his business and you will be the rich one.

If case 2 is true, you should start a company and undercut his price, since you can also pay your employees and suppliers as much as he case, in which case you will get all his business and you will be the rich one.

In a system where competition is free that competition holds margins to reasonable amounts. For example, think the price of oil is high right now, think oil companies are making out like bandits? Go start finding more and you will be the rich one. Problem is, that’s a really expensive thing to do right now (drilling equipment is very expensive for example, because the market will pay a lot for it), and you’ll find that the margin you think is there isn’t nearly as high as you’d expect.

[meadandale]

@CA Renter

If it’s so gosh darn easy to start or run a company why aren’t you doing it? I mean, you could be one of the rich folks….

[meadandale]

@CA Renter

If it’s so gosh darn easy to start or run a company why aren’t you doing it? I mean, you could be one of the rich folks….

[meadandale]

@CA Renter

If it’s so gosh darn easy to start or run a company why aren’t you doing it? I mean, you could be one of the rich folks….

[meadandale]

@CA Renter

If it’s so gosh darn easy to start or run a company why aren’t you doing it? I mean, you could be one of the rich folks….

[meadandale]

@CA Renter

If it’s so gosh darn easy to start or run a company why aren’t you doing it? I mean, you could be one of the rich folks….

[blue_sky]

BTW, I totally disagree with the notion that high pay is the reward for hard work or even education

You are absolutely correct, and anyone who thinks hard work = money is not thinking clearly. In a nutshell:

money = market value of whatever you have to sell.

If your Ph.D. is physics is not something people value, don’t expect to get paid much. The world does not owe you a living based on any measure of ‘dues paid in’, it pays only for ‘value your produce’.

Note that we may disagree over how the market values various things. For example, I don’t believe mortgage brokers produced much value, but the market did, for a while. Now it doesn’t.

[blue_sky]

BTW, I totally disagree with the notion that high pay is the reward for hard work or even education

You are absolutely correct, and anyone who thinks hard work = money is not thinking clearly. In a nutshell:

money = market value of whatever you have to sell.

If your Ph.D. is physics is not something people value, don’t expect to get paid much. The world does not owe you a living based on any measure of ‘dues paid in’, it pays only for ‘value your produce’.

Note that we may disagree over how the market values various things. For example, I don’t believe mortgage brokers produced much value, but the market did, for a while. Now it doesn’t.

[blue_sky]

BTW, I totally disagree with the notion that high pay is the reward for hard work or even education

You are absolutely correct, and anyone who thinks hard work = money is not thinking clearly. In a nutshell:

money = market value of whatever you have to sell.

If your Ph.D. is physics is not something people value, don’t expect to get paid much. The world does not owe you a living based on any measure of ‘dues paid in’, it pays only for ‘value your produce’.

Note that we may disagree over how the market values various things. For example, I don’t believe mortgage brokers produced much value, but the market did, for a while. Now it doesn’t.

[blue_sky]

BTW, I totally disagree with the notion that high pay is the reward for hard work or even education

You are absolutely correct, and anyone who thinks hard work = money is not thinking clearly. In a nutshell:

money = market value of whatever you have to sell.

If your Ph.D. is physics is not something people value, don’t expect to get paid much. The world does not owe you a living based on any measure of ‘dues paid in’, it pays only for ‘value your produce’.

Note that we may disagree over how the market values various things. For example, I don’t believe mortgage brokers produced much value, but the market did, for a while. Now it doesn’t.

[blue_sky]

BTW, I totally disagree with the notion that high pay is the reward for hard work or even education

You are absolutely correct, and anyone who thinks hard work = money is not thinking clearly. In a nutshell:

money = market value of whatever you have to sell.

If your Ph.D. is physics is not something people value, don’t expect to get paid much. The world does not owe you a living based on any measure of ‘dues paid in’, it pays only for ‘value your produce’.

Note that we may disagree over how the market values various things. For example, I don’t believe mortgage brokers produced much value, but the market did, for a while. Now it doesn’t.

[CA renter]

Starting and running a company can be difficult or easy. It totally depends on what you choose to do.

Right now, family obligations keep me from working full-time during regular hours, so I make due by short-term trading for now (mostly for fun, and motivation to keep up with the business world). At some point, we (husband and I) will very likely buy or start our own business. We are always looking, and think the future will bring lots of opportunities for those who wait.

BTW, when I’m talking about “rich” people, I’m referring to the execs & big-stake, highly-leveraged investors who are mostly involved in finance, real estate, mega-corporations that control a monopoly, etc. Very few of us “socialists” are talking about the mechanic shop or restaurant owner, etc. They DO work hard, and most of them give themselves a salary that is much more closely aligned with what they pay their employess, and they tend to work on lower margins.

[CA renter]

Starting and running a company can be difficult or easy. It totally depends on what you choose to do.

Right now, family obligations keep me from working full-time during regular hours, so I make due by short-term trading for now (mostly for fun, and motivation to keep up with the business world). At some point, we (husband and I) will very likely buy or start our own business. We are always looking, and think the future will bring lots of opportunities for those who wait.

BTW, when I’m talking about “rich” people, I’m referring to the execs & big-stake, highly-leveraged investors who are mostly involved in finance, real estate, mega-corporations that control a monopoly, etc. Very few of us “socialists” are talking about the mechanic shop or restaurant owner, etc. They DO work hard, and most of them give themselves a salary that is much more closely aligned with what they pay their employess, and they tend to work on lower margins.

[CA renter]

Starting and running a company can be difficult or easy. It totally depends on what you choose to do.

Right now, family obligations keep me from working full-time during regular hours, so I make due by short-term trading for now (mostly for fun, and motivation to keep up with the business world). At some point, we (husband and I) will very likely buy or start our own business. We are always looking, and think the future will bring lots of opportunities for those who wait.

BTW, when I’m talking about “rich” people, I’m referring to the execs & big-stake, highly-leveraged investors who are mostly involved in finance, real estate, mega-corporations that control a monopoly, etc. Very few of us “socialists” are talking about the mechanic shop or restaurant owner, etc. They DO work hard, and most of them give themselves a salary that is much more closely aligned with what they pay their employess, and they tend to work on lower margins.

[CA renter]

Starting and running a company can be difficult or easy. It totally depends on what you choose to do.

Right now, family obligations keep me from working full-time during regular hours, so I make due by short-term trading for now (mostly for fun, and motivation to keep up with the business world). At some point, we (husband and I) will very likely buy or start our own business. We are always looking, and think the future will bring lots of opportunities for those who wait.

BTW, when I’m talking about “rich” people, I’m referring to the execs & big-stake, highly-leveraged investors who are mostly involved in finance, real estate, mega-corporations that control a monopoly, etc. Very few of us “socialists” are talking about the mechanic shop or restaurant owner, etc. They DO work hard, and most of them give themselves a salary that is much more closely aligned with what they pay their employess, and they tend to work on lower margins.

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