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People Who Make More Than 500K per Year Are Dispensable Parasites

Have you ever noticed something?

Everyone who currently makes more than 500K/ year is a rent seeking parasite who can be eliminated without any detriment to society?

Close to every single person who makes more than 10 times median income in every single population in human history made that much money through monopoly and rent-seeking rather than actual work, innovation or sheer luck.

Some of you might say- what about some doctors, athletes. lawyers or small time businessmen? My answer is- there are people with the same level of competence who can work for less. Moreover many professions such as lawyers, highly paid managers and corrupt small-time businessmen are a net drain on society.

Populations with total income inequalities of 20 times or median to top inequalities of 10 times are not stable because they allow for runaway rent seeking behavior and malinvestment which cripple a society’s ability to adapt to changing circumstances.. never mind create a lot of bad faith/ loss of social cohesion.

Comments?

  1. raliv
    February 28, 2011 at 8:21 am | #1

    “Religion is what keeps the poor from killing the rich.” – Napoleon

  2. MeMyselfI
    February 28, 2011 at 8:30 am | #2

    Just because you say this is so doesn’t make it so.

    Income inequality isn’t the problem… using income inequality to provoke class warfare is. The pie is not fixed, and, in a free society neither is the division of any given pie.

    The real rent seekers are the sociopaths that garner political power – legally or not – and use it to entrench themselves and their interests. A particular private citizen, or, even a number of them, that generate wealth in ANY manner aren’t but a blip on the radar of the majority of the population and are really nothing to be feared… unless they turn that wealth into entrenched political power – e.g. a monarchy, dictatorship, or some other political dynasty. Otherwise, being wealthy generally means you live a different life than others… and then you die just like everyone else. So what.

  3. w
    February 28, 2011 at 8:57 am | #3

    anyone in the FIRE sector who makes over 500K is a rent seeking parasite.

  4. Country Lawyer
    February 28, 2011 at 9:44 am | #4

    H a ha ha. Now you’re going after “corrupt” small time business men?

    You really are useful for the corporatists and socialists.

  5. February 28, 2011 at 10:44 am | #5

    Do business owners who give people jobs count as parasites as well?

    Weren’t slave owners “businessmen who gave jobs”- by your definition?

    • YSV Rao
      March 1, 2011 at 10:56 am | #6

      NomadicNeill :Do business owners who give people jobs count as parasites as well?—
      Weren’t slave owners “businessmen who gave jobs”- by your definition?

      Err, no.Slavery is not employment as slaves are not paid salaries and are held in bondage…
      Next thing I expect to hear ….. how the current hapless corporate drones have it worse than those who suffered the transatlantic crossing…

      Also if you want to limit the salaries in the top brackets, expect yours to go down as well! Thats the flip side to “trickle down” economics…yes you know what those at the top like to “trickle” on those who declare class warfare!

  6. w
  7. February 28, 2011 at 12:51 pm | #8

    The more money you make, the more likely it is that your job is useless (or malignant).

  8. Blanchard
    February 28, 2011 at 3:02 pm | #9

    What is a fair wage difference between an owner and an employee for the employee not to be a “wage slave”? What is a reasonable return on investment for a small business owner? Are they allowed to recoup the losses of the first 3-5 years that a start up business is in the red?

    There is no “fair” wage.

    “My answer is- there are people with the same level of competence who can work for less” This is irrelevant. They may be as competent however there would likely be some other aspect holding them back. It may be confidence, attitude, ambition, personality, they don’t want to travel, or that they just don’t want to. You can find examples in the blogging community; FB and Roosh come across as quite capable and inteligent however they don’t see the value in applying themselves to make $500k a year.

    Why $500k? There are plenty of $100k and $200k rent-seeking lawyers, government employees and NGO employees.

    People who make over 500K (10 times median income) are almost always protected by monopoly, scams and the government.

    Plus they spend a much smaller percentage of their income for consumption than those who make less than 500k/ year

    And what is your solution? I read your blog because I find that I disagree with much of what you discuss, which I enjoy because it challenges my beliefs, but it seems that you rarely offer solutions to any of the issues that you bring up. So, how do you propose that we fix the income disparity between the upper 5% and the bottom 95%?

  9. P.T. Barnum
    March 1, 2011 at 6:07 am | #10

    It may be confidence, attitude, ambition, personality, they don’t want to travel, or that they just don’t want to.

    Or they don’t have friends on the local zoning board.

  10. YSV Rao
    March 1, 2011 at 11:04 am | #11

    LOL! As they say dont judge a man until you walk in his shoes!

    When you and others who insist on salary caps are making 500k+, I would be interested very much in your opinion.

    Surely there were many who werent born with 500k (or any other arbitrary figure,Ralph Nader says its 150k ,ok whatever) , please show a self made guy with a such net worth who prefers a salary cap!

    Remember class warfare is a very dangerous game…..the janitor of modest means in your building may ask why the heck you are making 50k+ and cant everyone be happy with just 10k like he is?!What would you tell him …. “no unlike those “parasites” MY job is really important and I deserve this remuneration and that I are really your brother in arms”!!Do you expect him to buy that?

  11. Columnist
    March 2, 2011 at 2:31 am | #12

    YSV Rao :Remember class warfare is a very dangerous game…..the janitor of modest means in your building may ask why the heck you are making 50k+ and cant everyone be happy with just 10k like he is?!What would you tell him …. “no unlike those “parasites” MY job is really important and I deserve this remuneration and that I are really your brother in arms”!!Do you expect him to buy that?

    The most extreme of the class warriors, the Maoist-Third Worldists, say that the whole First World, including the people of color on welfare, are exploiters of the Third World. Only in the Third World can real revolution be made, according to them.

  12. anonymous
    March 5, 2011 at 10:38 pm | #13

    My husband earns more than $500,000/yr. He’s a bargin. Replacing him would require 3-4 FTEs , each earning at least $250,000.

  13. DoesNotMatter
    March 18, 2011 at 2:19 pm | #14

    why not title your post “Are people who are protected by government monopolies dispensable parasites”. the title of this post is misleading.

  14. April 3, 2011 at 1:21 pm | #15

    No rich, no poor, no crime, no war.

    The goal should be for everyone to be “middle-class”, and at the same time recognize that we are not equal.

    Having a minimum standard of living = lower middle class is a good start.

    And stop selling weapons to everyone.

  15. August 27, 2011 at 12:43 pm | #16

    This is the dumbest crap i’ve ever heard, we live in a capitalist society where ANYONE is capable of being wealthy if they work for it. The guy who created facebook is a billionaire does that mean he’s corrupt? NO absolutely not, he had a good idea any capitalized on it. there are plenty of honest people who work hard and create there own business/product and as a result reap the benefits as such. You clearly have no clue what your talking about, there reason why people are poor is because they focus to much on being poor and not enough on becoming rich. If you where to spend your time on more productive things such as starting your own company maybe you would become rich yourself someday.

  1. March 2, 2011 at 7:06 pm | #1

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