Here are a few items we’ve picked up this week:
* How the Richest 400 People in America Got So Rich – interesting analysis in The Atlantic magazine of top salaries over the past 20+ years. The best part though is how the author contradicts himself in the first six sentences!
In 1992, the 400th richest person in America made $24 million. / In 2007, the 400th richest person in America made $138 million (or $87 million, inflation-adjusted). / Now, that almost certainly wasn’t the same guy. There’s a lot of churn at the top of the money pyramid. In all of the 1990s, only 25% of the Fortunate 400 made more than one appearance. But the overall message is the same. The rich keep getting richer.[Ed. Uh, no. That’s not the overall message]
The author goes on to note that A. The amounts are mainly capital gains, money made from sale of appreciated stock, and B. In case that second sentence slipped by too quickly, in ten years, only one-quarter of the people listed in the top 400 appeared more than once. So, the other 75% WERE NOT GETTING RICHER, under this definition! Duh!
* Just in case there are still readers of this blog who think the government is their friend, (and don’t give IFO that cliche about police, fire and roads – those are local services), here is an email note from one Eastern Oregon ranch woman to another:
Now, don’t give us any BS about how well-intentioned the bureaucrats are, either. We’ve lived out here in the West for almost four decades and have seen the good staff replaced by bad, ideologically-driven staff. Their ideology? Humans are bad. Livestock is bad. No amount of evidence to the contrary notwithstanding.
We saw a professor almost lose his job when he published his well-documented research showing that cows walking through streams is actually GOOD for Salmon! Heresy!