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Comments about ‘85 richest people as wealthy as poorest half of the world’

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Published: Friday, Jan. 24 2014 8:30 p.m. MST

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Tators
Hyrum, UT

This proves more than ever before that it takes money to make money.

In-spite of what some people will claim after reading this article, capitalism is still the best system in the world for allowing people to pull themselves out of poverty and move up the economic latter. It provides incentive. Socialism and communism do not.

People who accomplish a lot should be admired, not envied. There are many people in the world who have the opportunities to accomplish a lot more economically but choose not to, usually due to lack of ambition.
Unfortunately, there are far too many people who currently live under oppressive governments that don't allow those same opportunities.

There's a reason so many people are still literally risking their lives to try to get to the USA and enjoy our freedoms and economic opportunities that comparatively few other countries in the world offer. We in America are very fortunate indeed.

Chris A
Salt Lake , UT

Well said Tators! Spot on.

Christopher B
Ogden, UT

And just as those poor people are not making the rich people rich, the rich people are not making the poor people poor.

I have the same opportunities whether Mitt Romney makes 1 million, 10 million, or 100 million this year.

He created value and deserves what he has.

Its a sign of laziness when people think they deserve what others have earned.

And if you are worth more than what your current company is paying, there obviously will be another company who will pay you more if you will increase the value of their company.

Schnee
Salt Lake City, UT

@Tators
"In-spite of what some people will claim after reading this article, capitalism is still the best system in the world for allowing people to pull themselves out of poverty and move up the economic latter. "

Try explaining that to the 3.5 billion people whose combined wealth add up to that of the 85 richest. Unfettered capitalism is what leads to exploitation of cheap labor. I'm not saying that communism is correct (I don't believe it is), I'm just saying that capitalism still needs some controls if you really want to lift people up. That's why we have workplace safety standards, the 40 hour workweek, the minimum wage...

itsjustme
Vernal, UT

Capitalism works every time it is tried. Because there are so many Countries that are ruled by a dictator, capitalism does not have a chance to work. And unfortunately, the USA supports many of these Countries with foreign aid that only goes to enrich the dictator, while the rest of that countries population starves.

Support capitalism, and watch the entire population of the world flourish.

TRUTH
Salt Lake City, UT

Schnee.....Try explaining that to the 3.5 billion people whose combined wealth add up to that of the 85 Richest?

TWO WORDS: COMMUNIST CHINA! You cannot be rich if your government steals all your hard work......something you and Obama will never understand! That is why we have 37% of America not working, because of Obama and his communist policies!

t702
Las Vegas, NV

Right on Tators!

@Schnee: "I'm just saying that capitalism still needs some controls if you really want to lift people up". Problem is when you give people free stuff that they didn't work for they become lazy and dependent. Capitalism is not perfect but it's the best we've got. With all the money spent in fighting poverty, especially under this Community Organizer, it gets much worse.

JoCo Ute
Grants Pass, OR

I sure hope that Tators and Christopher B don't really believe that the US is operating under real capitalism. The oil industry, mining and industrial farms have been subsidized for decades. Educated workers are provided to "capitalists" for free by a socialist education system. Goods are transported on roads built by a socialist system. Business is subsidized at every turn in the US. Mining companies pay next to nothing to extract wealth from public lands.

The rich have purchased congressmen (and women) in a market that the rest of us can't participate in.

Capitalist talking heads fight a decent minimum wage and yet revel in obscene pay for a limited few. Jamie Dimon gets a raise to $20M and Rush Limbaugh rakes in $28M a year and we won't pay $15/hour as a basic wage.

averageguy
WASHINGTON, UT

This article is about net worth, not income. They are different. Net worth is seldom cash sitting idly in a vault. It's deployed capital. It's not yachts and private jets, it's business asset ownership. This working capital employs and serves us all. Secondly, there is no mention of how the wealth is used. Much of that (evil) wealth may be used for charity or humanitarian service. Articles like this are technically true but intentionally misleading, and have the main purpose of incitement towards a specific political agenda.

Thinkin\' Man
Rexburg, ID

That's about as significant as saying that all the stars in the universe have a million times more mass (or whatever) than all the planets combined, or that the redwood forest has more mass than similar sized white pine forests.

So what?

That statistic doesn't really mean anything. In developed and less corrupt nations at least, the rich do not take money from the poor. I wish that idea would sink in.

gee-en
Salt Lake City, UT

The article I am reading says:
"The 85 richest people in the world own more wealth than the 300 billion poorest people combined"
How many planets' populations are they counting to get to 300 billion people?
Have other advanced alien races not discovered some economic and political system that keeps their billions of people from being so poor?

Spoc
Ogden, UT

@ Christopher B,

Actually, if Mitt makes $100M, your opportunities might indeed increase.
Guys like that didn't get rich by squirreling away their coin in a bank vault like Scrooge McDuck. They put it to work by putting other people to work.

And with a small portion of it they spend it on a lifestyle that is putting a bunch more people to work and putting food on their table.

And with a substantial portion of it, guys like Mitt R and Warren B and Bill G lift a lot of people who need a lift.

Money is just a tool that works best in the hands of someone who knows how to use it to build things the rest of us need. Take it away and give it to someone who doesn't know what to do with it, and we all become poorer.

cowshed
Provo, Utah

"The 85 richest people in the world own more wealth than the 300 billion poorest people combined". Interesting article, but maybe we need to check the math. I believe the world's total population is about 7 billion, which would not allow for 300 billion poorest people. Of course, the point of the article would be the same if there were only 3.5 billion people in the world's poorest half.

Schnee
Salt Lake City, UT

@t702
"Problem is when you give people free stuff that they didn't work for they become lazy and dependent. "

But I'm not talking about free stuff. I mean more basic things we take for granted like how people in other nations are getting paid pennies an hour working in some sweatshop. There's a difference between lazy and exploited.

@TRUTH
"You cannot be rich if your government steals all your hard work"

Nobody is saying to do that (and besides, I'd be modeling a nation like Sweden that has less income inequality than the US, not China which has more income inequality than the US).

"That is why we have 37% of America not working"

You're either including stay at home parents or 80+ year olds in that number... maybe both. I'm sure you think families ideally should have one parent staying at home raising the kids, and I'm sure you want to retire before 80 so why count all them?

@Thinkin' Man
"In developed and less corrupt nations at least, the rich do not take money from the poor. "

They take the labor of their employees and control how much the workers gets of the profits.

the truth
Holladay, UT

Even if those 85 did not have that money the poor would still be poor.

The poor aren't poor because someone else is rich.

The left makes a grave mistake thinking in such simple terms.

SAS
Sandy, UT

Clearly, each of those 85 richest people must do as much work and create more value than 10 million of the world's poor. Right?

Ernest T. Bass
Bountiful, UT

The fact that anyone can defend the udder greed is astounding.
Greed is a horrible, horrible human trait. Anyone who believes that it's ok for 85 people to own more money than 3.5 Billion people is beyond reason.

Vincent Vega
Orem, UT

I'm sure Jesus would be so pleased.

Scott1
Quiet Neighborhood, UT

I have enjoyed many of the seemingly intelligent comments on this blog. Could any of you recommend some good books or other sources that would back up your viewpoints or help satisfy my desire to better understand how economies work?

Ex-Pat of Zion
Lititz, PA

The vast majority in the "enclave" seem to feel unfettered capitalism is grand. Seems like several scripture in the BoM would say otherwise: 4Ne1:3 comes to mind. And the outcome of a "united order" society? See verse 4 (continual peace). And how did it end? People beginning to separate into classes based on their "ability" to obtain riches. More to the point: What they did with that ability.

We seem to complain about the poor who do not wear the garment of the laborer, but the rich (I dare say all of the 85 in this piece) do not earn their daily bread by the sweat of their brow. Food, shelter and clothing are basic human needs. We collectively determine whether these "needs" are rights or privileges. If a privilege, then we expect the user to abide by certain rules. If a right, we grant it to the user unconditionally. Delegation of the task of enforcing the rights we grant is done by the government through taxation. Leaving it to philanthropic urges has, at least if the 85/3.5B is valid is that the rich seem incapable, in the aggregate, of doing it on their own. Welcome to the last days

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