Maggie's Farm

Those greedy 1%ers (household AGI $350,000 and up) are Hollywood and Broadway actors, rock and hip-hop stars, sports stars, popular writers, entrepreneurs, TV people, fancy restaurant owners, artists, theater impresarios, prosperous small business owners, some accountants and portfolio managers, opera stars, the CEOs of big businesses, neurosurgeons, plastic surgeons, and some other high-income medical specialists, NYT columnists, college presidents, retired politicians, law partners, real estate magnates, and a few high-level investment bankers.

Not exactly an evil bunch of people. I plan to join that crowd, at least for a while. How many people are permanently in that group? Very few, I suspect. Careers rise and fall, which is why people need to save a little of their money while making sure to fully enjoy and make good use of the rest.

From Tamny's What You Don't Often Hear About Those 'Greedy' One Percenters:

...as (Keith) Richards noted about the band’s early days, “Benedictines had nothing on us. Anybody that strayed from the nest to get laid, or try to get laid, was a traitor. You were supposed to spend all your waking hours studying Jimmy Reed, Muddy Waters, Little Walter, Howlin’ Wolf, Robert Johnson. That was your gig. Every other moment taken away from it was a sin.”

Read it. HuffPo, working on the envy meme: U.S. Income Inequality: Top 1 Percent Take Home 24 Percent Of U.S. Income. The economic ignorance, or feigned ignorance, is astonishing. There is no set "pie:" the pie is infinitely expandable. It's is called "Growth in GDP." Wealth can be created out of thin air, out of effective, creative, and unique qualities of work and investment. The Rolling Stones, on their next final tour, do not "take" their greedy % of American income. Those old boys earn it.

All the same, Krugman has it all figured out: Tax the Rich

Photo: Bob Dylan, one of the 1%ers.