Do Americans Hate the Rich?

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    Dec 26, 2011 8:45 PM GMT

    Lately, whenever someone notes the chasm between the wealthy and everyone else, and argues for greater income redistribution to level the playing field, a member of the financial elite pipes up to complain about their maligned position in American life. The latest was Jamie Dimon, CEO of JPMorgan Chase & Co., who complained to investors about the unpopularity of bankers

    “Acting like everyone who’s been successful is bad and because you’re rich you’re bad, I don’t understand it,” the JPMorgan Chase & Co. (JPM) CEO told an audience member who asked about hostility toward bankers. “Sometimes there’s a bad apple, yet we denigrate the whole.”

    Ignoring, for now, the fact that Dimon’s company received a massive bailout from the federal government—which belies the notion that he’s somehow been successful of his own accord—it’s not hard to understand why people are angry at bankers. Indeed, Joshua Brown, who himself was a banker, does a great job of explaining the dynamic at hand:

    No, Jamie, it is not that Americans hate successful people or the wealthy. In fact, it is just the opposite. We love the success stories in our midst and it is a distinctly American trait to believe that we can all follow in the footsteps of the elite, even though so few of us ever actually do.

    So, no, we don’t hate the rich. What we hate are the predators.

    What we hate are the people who we view as having found their success as a consequence of the damage their activities have done to our country. What we hate are those who take and give nothing back in the form of innovation, convenience, entertainment or scientific progress. We hate those who’ve exploited political relationships and stupidity to rake in even more of the nation’s wealth while simultaneously driving the potential for success further away from the grasp of everyone else.

    It’s hard to look at the wealth worshiping of American culture and conclude that Americans hate the rich. Rather, Americans hate people who become rich through rent-seeking, and then use their power and influence to pull up the ladder for everyone else. Financial elites crashed the economy, but rather than suffer any adverse consequences for their reckless behavior, they’ve prospered. Worse, they’ve yet to show any contrition for their actions, even as millions of Americans—who had no part in the sideshow—languish in a wounded economy.

    With that as the background, it’s no wonder that Americans want higher tax rates on the super-wealthy and other redistributive policies—it’s the only recourse they have for a situation that smacks of injustice.

    Jamelle Bouie blog Post: http://www.thenation.com/blog/165297/do-americans-hate-rich
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    Dec 26, 2011 9:26 PM GMT
    No. Americans dont hate the rich. We hate greed, excess, ill gotten financial gains, fraud, deception, self absorption, and elitism. We admire an american success story who lives simply and gives generously to others. We loathe people who base someones individual worth on their financial status. We loathe people who got rich based on unscrupulous methods.
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    Dec 26, 2011 10:29 PM GMT
    No, only the Leftists and OWS-type morons in America hate the rich. Everyone else with common sense knows it's the rich who employ us.
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    Dec 26, 2011 11:07 PM GMT
    RIGuy60 saidNo, only the Leftists and OWS-type morons in America hate the rich. Everyone else with common sense knows it's the rich who employ us.
    Another "insult".

    FAIL
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    Dec 26, 2011 11:16 PM GMT
    catfish5 saidNo. Americans dont hate the rich. We hate greed, excess, ill gotten financial gains, fraud, deception, self absorption, and elitism. We admire an american success story who lives simply and gives generously to others. We loathe people who base someones individual worth on their financial status. We loathe people who got rich based on unscrupulous methods.


    I generally don't agree with you too often, but we're not too far apart on this one.
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    Dec 26, 2011 11:16 PM GMT
    RIGuy60 saidNo, only the Leftists and OWS-type morons in America hate the rich. Everyone else with common sense knows it's the rich who employ us.


    Small business owners are the largest employers in the US. These small biz owners are typically middle class.
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    Dec 26, 2011 11:18 PM GMT
    catfish5 said
    RIGuy60 saidNo, only the Leftists and OWS-type morons in America hate the rich. Everyone else with common sense knows it's the rich who employ us.


    Small business owners are the largest employers in the US. These small biz owners are typically middle class.


    After my last couple of years, middle class would be a stretch. However, whatever it takes, I’ll be back.
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    Dec 26, 2011 11:19 PM GMT
    Americans hate everything they're allowed to hate, and secretly hate everything they're not allowed to hate. In fact, I'm sure many of them would even hate this thread. icon_razz.gif
  • rnch

    Posts: 11524

    Dec 26, 2011 11:34 PM GMT
    paulflexes saidAmericans hate everything they're allowed to hate, and secretly hate everything they're not allowed to hate. In fact, I'm sure many of them would even hate this thread. icon_razz.gif



    there appears to be a couple of haters on this thread


    icon_lol.gif
  • GQjock

    Posts: 11649

    Dec 26, 2011 11:42 PM GMT
    Why on earth would anyone hate rich people

    The reason people are in the streets is because of the RULES that have been put into place to make rich people richer and at the same time keep anyone else from joining the ... so called "Club"

    Kinda like gerrymandering ... but with banking rules and tax laws
  • JP85257

    Posts: 3284

    Dec 27, 2011 2:51 AM GMT
    We are told we are supposed to, but I dont.
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    Dec 27, 2011 2:55 AM GMT
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who make laws that favor the predators, in return for campaign donations (aka bribes).
  • JP85257

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    Dec 27, 2011 2:58 AM GMT
    Art_Deco said
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who makes laws that favor the predators, in return for campaign donations (aka bribes).

    Someone is always victimizing you people...... icon_rolleyes.gif
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    Dec 27, 2011 3:16 AM GMT
    JP85257 said
    Art_Deco said
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who makes laws that favor the predators, in return for campaign donations (aka bribes).

    Someone is always victimizing you people...... icon_rolleyes.gif


    Actually, it's not just progressives who are victimized by the corporate capture of politics in the US, it's all Americans whether you admit it or not.
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    Dec 27, 2011 3:20 AM GMT
    JP85257 said
    Art_Deco said
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who makes laws that favor the predators, in return for campaign donations (aka bribes).

    Someone is always victimizing you people...... icon_rolleyes.gif

    And what "people" is that? What people are you by contrast?
  • JP85257

    Posts: 3284

    Dec 27, 2011 3:20 AM GMT
    Christian73 said
    JP85257 said
    Art_Deco said
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who makes laws that favor the predators, in return for campaign donations (aka bribes).

    Someone is always victimizing you people...... icon_rolleyes.gif


    Actually, it's not just progressives who are victimized by the corporate capture of politics in the US, it's all Americans whether you admit it or not.

    Admit it or I just dont care. icon_razz.gif

    Email me a link of charities I can donate to that you work with.
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    Dec 27, 2011 3:35 AM GMT
    JP85257 said
    Christian73 said
    JP85257 said
    Art_Deco said
    White4DarkerFL saidSo, no, we don’t hate the rich. What we hate are the predators.

    +1

    Along with hating the politicians who makes laws that favor the predators, in return for campaign donations (aka bribes).

    Someone is always victimizing you people...... icon_rolleyes.gif


    Actually, it's not just progressives who are victimized by the corporate capture of politics in the US, it's all Americans whether you admit it or not.

    Admit it or I just dont care. icon_razz.gif


    Attitudes like this will destroy capitalism faster than any commie or terrorist nuke ever could.

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    Dec 27, 2011 5:02 AM GMT
    catfish5 saidNo. Americans dont hate the rich. We hate greed, excess, ill gotten financial gains, fraud, deception, self absorption, and elitism. We admire an american success story who lives simply and gives generously to others. We loathe people who base someones individual worth on their financial status. We loathe people who got rich based on unscrupulous methods.


    Thats why America has come to embrace the Mormons, and in many ways the Humble, stylish, clean living Mormon family has become the embodiment, of what it is to Be American, and an American family. But then the Mormons also thieve the world over now days too.
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    Dec 27, 2011 8:20 AM GMT
    I'm against capitalism, that does not equal hate toward every rich person.

    First, not every rich person is a capitalist. There are celebrities (singers, actors) that are rich, yet do not own any businesses.

    Second, not every rich person is evil. But the system itself, creates poverty, unemployment, and inequality.

    What people think of socialism is not socialism. The dictatorships were state capitalist. Socialism is not a society where people are poor or starving, that is capitalism. icon_wink.gif The goal of the anti-capitalist movement is to make the poor and working class richer, but not through forcible "expropriating" of cash, but through re-structuring the economy in a democratic way so that inequality of economic status is eventually eliminated and everyone has access to the opportunity to prosper.

    Everyone should have the right to a comfortable existence. That is what socialism is about.





  • GQjock

    Posts: 11649

    Dec 27, 2011 10:40 AM GMT
    Attitudes like this will destroy capitalism faster than any commie or terrorist nuke ever could.

    Commie? Really?
    I think you've been watchin too many Madmen Marathons my man
    Capitalism isn't going ANYWHERE soon
    it's always going to be there but just like governments there needs to be controls
    The OWS movement grew out of the Arab Spring movement because like their oppression by their government we have oppression via corporate control
    Large multinational corporations through their donations control our government
    They have slashed and burned our resources have decimated our economy
    and we have now a controlling group of people who run these companies

    Capitalism without control is just as dangerous as government without control
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    Dec 27, 2011 1:13 PM GMT
    GQjock saidCapitalism without control is just as dangerous as government without control

    +1

    Unrestrained, there's not a thing that capitalism will not plunder, pollute and pervert. I've never been a Marxist or Socialist, the failures of those models being well known, but I do see the point of the ordinary workers having control of the means of production, rather than the 1% elite that exploit the 99.

    But in past failed attempts at non-Capitalist systems it was the government that claimed to represent the workers' interests in the economy, and that was a charade. Governments can become corrupt and self-serving just as easily as capitalist corporations can, with the added flaw that governments run the economy based on bureaucratic principles, rather than business ones.

    So I think we need a totally new economic model, that is neither Marxist nor capitalist. One that is immune from the boardroom robber barons, as well as from governmental apparatchiks, and whose goal is the good of all society, not just more profit for the greedy 1 percenters.
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    Dec 27, 2011 1:49 PM GMT
    trueblueaussie said
    catfish5 saidNo. Americans dont hate the rich. We hate greed, excess, ill gotten financial gains, fraud, deception, self absorption, and elitism. We admire an american success story who lives simply and gives generously to others. We loathe people who base someones individual worth on their financial status. We loathe people who got rich based on unscrupulous methods.


    Thats why America has come to embrace the Mormons, and in many ways the Humble, stylish, clean living Mormon family has become the embodiment, of what it is to Be American, and an American family. But then the Mormons also thieve the world over now days too.
    Now I KNOW you're a stupid sock/plant.
  • rnch

    Posts: 11524

    Dec 27, 2011 2:11 PM GMT
    Art_Deco said
    GQjock saidCapitalism without control is just as dangerous as government without control

    +1

    Unrestrained, there's not a thing that capitalism will not plunder, pollute and pervert...



    1890 thru 1920's American business robber barons proved this icon_exclaim.gif
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    Dec 27, 2011 2:28 PM GMT
    rnch said
    Art_Deco said
    GQjock saidCapitalism without control is just as dangerous as government without control

    +1

    Unrestrained, there's not a thing that capitalism will not plunder, pollute and pervert...

    1890 thru 1920's American business robber barons proved this icon_exclaim.gif

    It was proven again much more recently, during the Bush economic meltdown.
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    Dec 27, 2011 2:37 PM GMT
    rnch said
    paulflexes saidAmericans hate everything they're allowed to hate, and secretly hate everything they're not allowed to hate. In fact, I'm sure many of them would even hate this thread. icon_razz.gif



    there appears to be a couple of haters on this thread


    icon_lol.gif
    It wouldn't be the RJ we know and love without them. icon_lol.gif