Skip to comments.Cantor: Republicans agree there is 'too much income disparity' (Barf alert)
Posted on 10/17/2011 7:15:17 AM PDT by C. Edmund Wright
House Majority Leader Eric Cantor (R-Va.) said repeatedly Sunday that Republicans agree that too few people control too much wealth in America.
"We know in this country right now that there is a complaint about folks at the top end of the income scales, that they make too much and too many don't make enough," Cantor said during an appearance on Fox News Sunday, toning down his earlier criticism of the Occupy Wall Street protests.
(Excerpt) Read more at thehill.com ...
Get yer boot off the neck of the economy, commie wannabes.
Double secret Barf-alert.
FRIGGING IDIOT, YET AGAIN MANY IN THE GOP DO THE COWARDLY NO BALLS POLITICS.
and they then wonder why we on the right are not excited with them.
HOW ABOUT POINTING OUT THEIR ANTI JEWISH COMMENTS, KILL THE COPS, UNSANITARY CONDITIONS, NO PERMITS, VIOLENCE, INTIMIDATION, CRAPPING ON COP CARS, DRUGS, PUBLIC SEX etc
Yes I know it is capitals but I am so sick and tired of these idiots on the right and in the GOP who first shut up about social issues and now get on their knees to a bunch of a few hundred in a city of millions which has millions of liberals .
This is beyond pathetic.
ugh....so THIS is the thing he said which has everyone so up in arms today.
Tells me that whatever internal polling the GOP has on this subject is not encouraging. Too much of our populace is just primed and ready for a little Eat the Rich populism.
Political correctness and compromise have both made many Republicans into eunuchs. Their spines have deteriorated so much that the cancer is attacking their brains.
They don’t recognize that this is total war. Compromise has not worked at all.
Our National Panel of Experts:
Governor Haley Barbour
Governor Jeb Bush
Governor Bobby Jindal
Senator John McCain
Governor Mitt Romney
John Boehner, Eric Cantor, Mike Pence, Cathy McMorris Rodgers, John Carter, Pete Sessions, David Dreier, Kevin McCarthy, Roy Blunt
Mitch McConnell, Jon Kyl, Lamar Alexander, John Ensign, John Cornyn, John Thune, Kay Bailey Hutchison
Gingrich Joins Cantors Effort To Remake GOP
Too much income disparity?
Well a lot of congressmen do seem to become fabulously wealthy while in office.
Typical Cantor. He’s a little RINO suck up. I saw the interview.
Saying that you know there is a complaint (which there is, regardless how misguided), isn’t the same as agreeing and wanting to “fix it” by government handouts.
Part of the GOP’s marketing problem is that they totally ignore certain complaints people have.
You can acknowledge an issue without compromising your principles.
Molehill, you are now a mountain.
Darn right there’s too much income disparity. Too many at the bottom that are a net negative when it comes to adding to the productivity and growth of our economy. They need to start contributing more.
I would agree with your main point — but Cantor played into the hands of the media here and is clearly scared by the BS poll numbers showing that Americans support this mob.
Its Cantor’s fear reaction and poor way he handled the subject that upsets me. This is not the first time for him either.
But yes, he could have said essentially the same thing without buying into the liberal premise. For example, he could say that there is tax paying disparity too, or stressed that government is the cause of all the income disparity - or said that government union employees are now the rich. But he didn’t say any of that....
Now we have "income disparity". But no one talks about "work ethic disparity" or "ingenuity disparity" or even how certain jobs have an inherent disparity on the impact on their fellow man. Steve Jobs became fabulously wealthy pleasing his fellow man. The geek down at the Apple store, well, not so much.
Millions earn nothing, even though they want to work and employers want to hire them - it’s illegal to pay what those jobs are worth.
This is how Che Guevara type revolutions start. Take an issue a lot of people are legitimately concerned about, and turn it into something entirely different - i.e., Communism.
That said, the GOP HAS to address this if people are concerned, ignoring it will not do them any good at all.
Well, I know Republican who doesn't think this way. I started out with absolutely nothing and, after 45+ years of hard work, I still have most of it left.
There IS too much disparity, what this country needs
are more rich people!
I went to the page linked above and watched the video. Five times. The video does not match the headline or the story on the web page. If there more to this? About the only quotes in the text of the story that match the video word for word are in the last paragraph.
What I saw on the video is a guy saying we need more people to be able to make more money. I saw nothign that indicated that he has an issue with the wealthy.
Maybe there is a lot more to the interview? Because from what I watched in the video there is nothing here to grouse about....
The “report” is commentary and rebutal rather than factual reporting.
The ‘Pubbies need pitch this clown OUT of the party. RIGHT NOW!
One way to close the illusionary “Income Disparity” gap is to change the way the government calculates income.
When calculating “income” for the purpose of defining who is above or below the poverty line and who should pay taxes to the IRS the federal giovernment does not include welfare, food stamps, money paid by the government under the EITC plan, and the value of other government handouts.
Many people living on government handouts have real incomes substantially higher than a lot of hard working wage earners who actually have jobs, earn their own way and pay taxes.
When the government starts counting all welfare, government aid, food stamps, and other handouts as income the numbers of officially designated “poor” will decrease by a substantial amount.
But that won’t happen because the government needs to maintain the illusion that there is a great subclass of people living in poverty because of heartless, greedy American taxpayers who aren’t “paying their fair share”.
I hate to write this, but I agree that there is too much wealth in the hands of too few citizens. Before you lambast me, think about it seriously.
The government cannot correct this imbalance. It is up to the culture to correct the greed amongst many of our citizens. For instance, look at professional athletes whose insatiable demands are destroying pro sports to the point that many folks cannot afford to go to a pro ball game. In this case, perhaps they will inflict enough damage to their reputations that it will resolve itself.
The excessive compensation given to some of the CEO’s in the USA has caused serious repercussions, such as ridiculous bailouts, bankruptcies of companies whose stock holders relied upon their solvency for part of their retirement income, etc.. The problem that Wall Street has right now is that there is already a built-in bias against capitalism and the banking/financial industry specifically. It is fueled by the intelligentia in the education establishment and the liberal new media. When stories about bailouts by the government converge with huge compensation packages, it is like gasoline on a fire. That is what is happening right now.
Liekwaise, look at the exessive costs of entertainment tickets to movies, plays, etc.. But the entertainment types are liberals so they get by with their greed easier that the business leaders. I know it does not seem fair, but greed whether it is from a business CEA, a sports star, or a movie star remains what it is - excessive, and during times of high unemployment, it breeds distrust.
The free market system is still the best system for a prosperous economy - but excessive greed is destroying the trust that the general public has in free markets and specifically in capitalism. This is tragic.
OK.I make $1 million and you make $100,000. A miracle happens and the economy rebounds and now I make $2.5 million and you are making $200,000. Yikes, we have increased the “income disparity”. Can’t have that so lets go back to the $1 million/$100,000 plan.
Cantor is showing his ignorance and overall misunderstanding of how capitalism works.
If we have huge numbers of millionaires, say millions of them we are going to huge income disparity but a very rich population. There will always be people at the bottom at $0 or close to it. That is just human nature. So as a capitalist society progresses in terms of income or per capita GDP it is inevitable that income disparity will increase. What else would you expect?
Tammy Faye Boehner and Cantor would NOT be in their positions had it not been for Tea Party getting republican candidates in the House. IF the republicans manage to hang onto the House, those 2 MUST not be House leaders. This just goes to show there’s not a dime’s worth of difference between RINOs and libiots... they are ALL progressives and dont care about this republic.
>>> The free market system is still the best system for a prosperous economy - but excessive greed is destroying the trust that the general public has in free markets and specifically in capitalism. >>>
With due respect, your heart is in the right place but your diagnoses are way off. Capitalist greed is not killing capitalism, GOVERNMENT GREED is killing capitalism. You are free to never do business with any business or CEO you think is too greedy (and who are you to judge BTW).
But none of us can escape greedy government. The problem is government, government, government.
>>> OK.I make $1 million and you make $100,000. A miracle happens and the economy rebounds and now I make $2.5 million and you are making $200,000. >>>
HEY HEY WAIT A MINUTE!!! How come you get the 2.5 mill and I get the measly 200K? :)
The problem is less that there is too much income disparity, than that the tax scheme has been so poorly arranged that the rich are encouraged to invest more in unproductive speculation than in productive investments. To elaborate:
1) If someone has less than $10m, they tend to make “typical investments” in stocks, bonds, and other such interest bearing instruments.
2) From about $100,000 up to $10m, investments are so complicated that many people “with other things to do with their time”, will instead invest in mutual funds.
3) Beyond $10m to about $100m, they almost have to hire full time investment advisers and even staff, just to manage mutual funds, moving into hedge funds to guarantee dividends whether the market goes up or down.
4) More than $100m, most assets are in hedge funds, moving into much more speculative derivatives, which approaches the level of “gaming” or gambling. Yet such investments become increasingly disconnected to the “real” economy, and are just numbers on computers.
So optimally, the best way to reduce such disparity is not to try to impoverish the wealthy and extremely wealthy, but to redirect the tax structure, so that their investments are much less like gambling, and contribute more to the economy.
For example, by making “research and development” investments very attractive in a taxation structure, billions of dollars would be poured into it overnight, likely resulting in much technological and even hard science discovery and invention.
The RinoCracy will say and do anything to avoid Constitutional Government.
>>> Yup. Eliminate corporate taxes and irrational regulation, and there will be little point in paying off politicians for favors. >>>
DING DING DING, we have a winner! Exactly right. Which actually brings us to the heart of Campaign Finance Reform. McCain was wrong (as he usually is) with his template. He thinks there is too much money in politics. He is wrong. There is too much politics in MONEY (or in business anyway).
Republicans agree that too few people control too much wealth in America. "We know in this country right now that there is a complaint about folks at the top end of the income scales, that they make too much and too many don't make enough,"
Republicans KNOW there is a complaint, but that is a FAR CRY from agreeing with the sentiment.
Bingo! Why the GOP doesn't lash out at Obozo and his "let's level the playing field" when the top 10% of the wage earners foot almost 70% of the tax bill is beyond me. We idolize the poor in this country and I can't figure out why. I look at what the rich do for this country (over and above paying 70% of the bill) including invention, innovation, job creation, support for the arts, charity, etc. and then I look at all the poor do for us, like...(crickets)...I can't come up with one thing they do to contribute to society. Yet, we're supposed to be happy taking from those who contribute and give it to those who don't. Why?
How so you define greed and excessive greed. You can always not support anyone you feel is greeding. Well anyone except goevernment who will take everything you have and consider it far. Goevernment is the root of our present evail and situation.
Every time I get to thinking Cantor’s learned NOT to step in “it.” There he is in “it” once again.
Eric, stop trying to go “populist.”
I also something needs to be done about the immunity politicians get from insider trading laws. These people are in a position to make huge sums of money based on votes they take that affect businesses.
Must be nice to be able to dump your stocks before voting to nail a company with unreasonable taxes or regulation. Even better to buy stocks in a company when they can turn around and tilt the table in their favor.
I think the headline is misleading...He acknowledged the complaint but I didn't see that he agreed with it.
Once you equate greed with the accumulation of wealth you lose the argument with everyone who is not a socialist wealth redistributionist at heart.
This philosophy is grounded in the belief that there is only so much pie; only so much wealth. And that every dollar in the hands of one person is a dollar taken from someone else.
I grew up in a small town where almost everyone would be considered low income today. Kids wore patched up jeans and worn out sneakers but as a rule the people were very industrious and hardworking. I never heard my family or friends discuss the honest accumulation of wealth, or people who earned wealth in those terms (greedy).
All we were concerned with was learning how to follow in their footsteps. I don’t care how much more others earn - I care how much I earn.
Have you ever been offered a job by someone who lives on money the government extorts from earners and producers?
“excessive greed is destroying the trust that the general public has in free markets and specifically in capitalism”
That may be true, but who cares? They’re wrong. We should tell them to shut up and worry about themselves, not indulge their illusions.
I tire of people calling these people RINO’s they are socialists just like their buds in the democrat party.....
And so the craven oil slick of ambition who is our House Majority Leader parrots one of Obama and the other Marxists’ favorite lines:
It’s just those greedy rich people who won’t do their duty and hire more people. (Really it’s not Obama’s fault at all.)
>> Its just those greedy rich people who wont do their duty and hire more people. >>
To me, that was the worst thing Cantor said. Not only did he parrot the liberal talking point, he demonstrated a breathtaking ignorance of what business is.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.