Hard work = $250,000 ?

iVillage Member
Registered: 07-11-2006
Hard work = $250,000 ?
376
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?

http://www.princeton.edu/~rbenabou/beliefs7csend.pdf

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iVillage Member
Registered: 04-01-2006
Fri, 11-07-2008 - 5:57pm

"I disagree. I think society does have a vested interest in giving those with a passion for medicine and the aptitude to do it the means to do it. Otherwise only children of the "wealthy" will be able to become doctors and that just seems silly and unAmerican to me. What a waste of ability."


thank you.

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iVillage Member
Registered: 11-04-2008
Fri, 11-07-2008 - 6:13pm
i totally agree. my ex bf was a financial advisor and he was stressed out all the time. i even worked for a few....and lets just say it was NOT a pleasant work experience.
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iVillage Member
Registered: 03-26-2003
Fri, 11-07-2008 - 6:14pm
I never argued that

 


 


I disagree with you, but I'm pretty sure

iVillage Member
Registered: 07-11-2006
Fri, 11-07-2008 - 8:19pm

>>i totally agree. my ex bf was a financial advisor and he was stressed out all the time. i even worked for a few....and lets just say it was NOT a pleasant work experience. <<

But what makes it stressful? Is is a person/job mismatch? Is it all the unethical practices that are encouraged? Is it a bad boss or unreasonable performance expectations?

High level of job stress does not entitle one to a high level of job pay.

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iVillage Member
Registered: 07-11-2006
Fri, 11-07-2008 - 8:22pm

>>i'd rather spend tax $ investing in education rather than investing in other programs proposed by those who will redistribute the "wealth". <<

I kinda see investing in education as a "redistribution of the wealth". KWIM?

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iVillage Member
Registered: 08-25-2008
Fri, 11-07-2008 - 10:28pm
So what, in your opinion, does entitle "one to a high level of job pay"?
iVillage Member
Registered: 07-11-2006
Fri, 11-07-2008 - 11:52pm
Nothing. Nothing "entitles" one to a high level of pay. Certainly not "stress".

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iVillage Member
Registered: 05-31-2003
Sat, 11-08-2008 - 8:43am

>Nothing. Nothing "entitles" one to a high level of pay. Certainly not "stress". <


Do you think that pay should be capped at some arbitrary figure?

iVillage Member
Registered: 04-24-2008
Sat, 11-08-2008 - 9:45am

So you want some assistance paying for a medical degree AND lower taxes than Obama proposes some day when you claim you will earn $250,000?


Can I ask what type of degree you're pursuing?

iVillage Member
Registered: 04-24-2008
Sat, 11-08-2008 - 9:53am
I do too.

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