Hard work = $250,000 ?
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| Fri, 10-24-2008 - 9:07am |
I’ve read repeatedly that the $250,000 is hard earned money that the government has no right to tax. Personally, I don’t believe that hard work consistently results in high salaries and I’m not convinced that people who make more money work harder or deserve more than most people. Most people, I believe, do work hard and most people are rewarded with 25,000 – 45,000 salary. Not all some hard workers make more and some make less. What do you think? Is the Just World view valid?
http://www.princeton.edu/~rbenabou/beliefs7csend.pdf
most people have a strong need to believe that they live in a world that is just, in the sense that people generally get what they deserve, and deserve what they get. When confronted with data that contradicts this view they try hard to ignore, reinterpret, distort, or forget it —for instance by finding imaginary merits to the recipients of fortuitous rewards, or assigning blame to innocent victims.
Because of their imperfect willpower, individuals constantly strive to motivate themselves (or their children) towards effort, educational investment, perseverance in the face of adversity, and away from the slippery slope of idleness, welfare dependency, crime, drugs, etc. This is another recurrent finding from the sociological evidence. In such circumstances, maintaining somewhat rosy beliefs about the fact that everyone will ultimately get their “just deserts” can be very valuable. Furthermore, if enough individuals end up with the view that economic success is highly dependent on effort, they will ultimately represent a pivotal voting block, and set a low tax rate. Conversely, when individuals anticipate that society will carry out little redistribution, the costs of a deficient motivation to effort or savings are much higher than with high taxes and
a generous safety net. Each individual thus has greater incentives to maintain his belief that effort ultimately pays, and consequently more voters end up with such a world view.
For instance, data from the World Values Survey shows that only 29% of Americans believe that the poor are trapped in poverty, and only 30% that luck, rather than effort or education, determines income. The figures for Europeans are nearly double: 60% and 54% respectively. Similarly, Americans are more than twice as likely as Europeans to think that the poor are lazy (60% versus 26%).
Indeed, 59% of Americans agree or strongly agree that “in the long run, hard work usually brings a better life”; this view commands much less support in Europe, ranging from 34% in Sweden to 43% in Germany.
Is the “American dream,” according to our theory, just a self-sustaining collective illusion?


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I'm not convinced that any of these are consistently true.
a) are harder working than the average person - most of them are putting in 50-60+ hours per week,
b) are responsible for much higher consequences - someone managing a business has a lot more responsibility than someone driving a bulldozer, for example,
c) on average are smarter and better educated than the average worker
d) create more value
"To imply that they somehow they truly did something to deserve all that extra is an insult to hard workers everywhere."
Well, You are wrong, my husband did EVERYTHING to deserve what he has achieved.
Offer evidence to the contrary.
With regard to each point:
a)
No, my parents are spending their retirement because their health, especially my moms is not good and one more Christmases together is precious enough for them to squander their money.
But I do see myself as well off - even though combined we don't make even half of 250,000.
>>That person is far more likely to get the promotion than the person who works 40 hours a week and just does what's required of them.<<
My point is that of the people who do go above and beyond only a tiny percentage will be financially rewarded.
So I stand be my comment:
To imply that they somehow they truly did something to deserve all that extra is an insult to hard workers everywhere.
a)The vast majority of people who work 50-60+ hours a week do not make 250+
b) are responsible for much higher consequences - someone managing a business has a lot more responsibility than someone driving a bulldozer, for example,
So by your logic, nurses and teachers are responsible for lower consequences than professional football players?
c) on average are smarter and better educated than the average worker
Sorta like George W. Bush, eh?
d) create more value
Bit of circular reasoning, yes?
Sorta like George W. Bush, eh?
the problem is....if someone is earning a lot as a financial advisor, and he / she starts taking that mentality (churn and burn)....they won't be making much for long....
they will lose all thier credibility, thier clients will go elsewhere, and they will drop out of that upper bracket like a lead balloon
-Kristen
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you are flipping it again.
the relevant idea here is that people earning 250k did put in the extra.....
not that people who put in the extra don't always get the 250k
-Kristen
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and you live in eastern MA?
cost of living is
-Kristen
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