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#326369 - 06/04/20 06:13 PM Re: The Maximum Wage [Re: jgw]
Hamish Howl Offline
journeyman

Registered: 11/21/19
Posts: 608
Loc: Tucson, AZ
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.

As everyone knows, the average American can totally do that.

This post may contain sarcasm.
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#326370 - 06/04/20 09:16 PM Re: The Maximum Wage [Re: Hamish Howl]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 10331
Loc: One of the Mexicos
Originally Posted By: Hamish Howl
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.

As everyone knows, the average American can totally do that.

This post may contain sarcasm.

I suppose you're right... it hadn't occurred to me that a necessary attribute to being a Capitalist is having enough capital on hand to test the free markets for the best deals!
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#326383 - 06/05/20 03:15 PM Re: The Maximum Wage [Re: logtroll]
Hamish Howl Offline
journeyman

Registered: 11/21/19
Posts: 608
Loc: Tucson, AZ
Originally Posted By: logtroll
Originally Posted By: Hamish Howl
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.

As everyone knows, the average American can totally do that.

This post may contain sarcasm.

I suppose you're right... it hadn't occurred to me that a necessary attribute to being a Capitalist is having enough capital on hand to test the free markets for the best deals!


Them what has, gets.
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#326449 - 06/09/20 05:49 PM Re: The Maximum Wage [Re: logtroll]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 440
Originally Posted By: logtroll
Originally Posted By: CPWILL
If you think that the lawyer isn't giving you good advice, fire them and get another. Lawyers that are terrible at serving their client's won't do as well as those who are great at it (shrug), and the former can charge more than the latter as a result of the difference in how well they serve their clients.

This is a good example of what I meant by limited life experience. I'm guessing you haven't ever had to hire a lawyer.

My point, which you have dodged fairly completely, is that lawyers can charge an exorbitant amount of money, whether they are good or not.


No, they cannot - because other lawyers exist and are in competition with them.

Now, if you want to argue that information is imperfect, then I agree.

But that that is a categorically different question from whether or not they are not serving you, and (again) if you do not want their services, you don't have to purchase them.

So.... yeah. I don't know what you think you are demonstrating other than I-Don't-Like-Lawyers-And-Think-It's-All-A-Racket, but, if you didn't want them to serve you, then you wouldn't hire them.


Quote:
You naively think that the "free market" will separate the good from the bad, but it doesn't. I have engaged too many lawyers in my life, and I have yet to find a single one that does a good, competent, and earnest job. Part of this I blame the legal system for, as I have also never experienced a good judge.


......ever consider that if you've met a lot of lawyers and a lot of judges and you think all of them are bad, maybe it's you?


Edited by CPWILL (06/09/20 05:52 PM)
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#326450 - 06/09/20 05:49 PM Re: The Maximum Wage [Re: Hamish Howl]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 440
Originally Posted By: Hamish Howl
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.


No. All you need to do to follow cpwill's advice here is be an adult, and recognize that you are responsible for your on actions. If you hire someone to perform a service for you, and agree to pay them X to perform that service because you value that service, going around later claiming it's illegitimate that you paid them to perform a service for you is foolish.


Edited by CPWILL (06/09/20 05:50 PM)
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#326452 - 06/09/20 05:53 PM Re: The Maximum Wage [Re: Hamish Howl]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 440
Originally Posted By: Hamish Howl
Originally Posted By: logtroll
Originally Posted By: Hamish Howl
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.

As everyone knows, the average American can totally do that.

This post may contain sarcasm.

I suppose you're right... it hadn't occurred to me that a necessary attribute to being a Capitalist is having enough capital on hand to test the free markets for the best deals!


Them what has, gets.


Thems' as is wise over long periods of time tends to gets. Thems as is foolish tends to lose.
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#326454 - 06/09/20 05:56 PM Re: The Maximum Wage [Re: CPWILL]
Hamish Howl Offline
journeyman

Registered: 11/21/19
Posts: 608
Loc: Tucson, AZ
Originally Posted By: CPWILL
Originally Posted By: Hamish Howl
Originally Posted By: logtroll
Originally Posted By: Hamish Howl
All you need to do to follow CP Will's advice is be affluent enough to cover a few retainers at a time.

As everyone knows, the average American can totally do that.

This post may contain sarcasm.

I suppose you're right... it hadn't occurred to me that a necessary attribute to being a Capitalist is having enough capital on hand to test the free markets for the best deals!


Them what has, gets.


Thems' as is wise over long periods of time tends to gets. Thems as is foolish tends to lose.


That model does not fit the empirical data.
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#326458 - 06/09/20 06:33 PM Re: The Maximum Wage [Re: logtroll]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 17429
Originally Posted By: logtroll
Originally Posted By: CPWILL
Originally Posted By: logtroll
Please clarify. Are you equating how much money a person makes with ability to serve each other?

If you don't serve people's needs or wants, in this economy, then they won't give you any money. If you not only serve their needs and wants, but, serve the needs or wants of millions or tens of millions of people in a particularly helpful way, they will give you a lot of money.

Seems quite theoretical to me. I like real life examples (my experience, or your experience).
One example that I know of is lawyers - it is beyond my comprehension, based on my experience, why they can charge so much and do so little of value. In fact, they often do a great deal of damage.
Hey now... My favorite saying on the topic is this: next time you're in trouble, ask a comedian for advice.

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#326460 - 06/09/20 06:39 PM Re: The Maximum Wage [Re: pondering_it_all]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 17429
Originally Posted By: pondering_it_all
Actually, that wouldn't work because almost nobody takes a wage in excess of 10 million dollars. Why would they volunteer to pay that much income tax? They take things like stock options, company benefits, etc. Or they just have all the money go to the corporation they control.

A top tier rate of 70% would be great, though. Lots of economists have looked at it, and even the ones who thought the Laffer Curve was valid said 70% was optimal.
I've been advocating that for years. I think at any income status, some level of profit needs to be maintained, but excessive concentration (as we have now) leads to economic instability.

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#326477 - 06/10/20 12:58 AM Re: The Maximum Wage [Re: Hamish Howl]
CPWILL Offline
newbie

Registered: 12/26/19
Posts: 440
Originally Posted By: Hamish Howl
Originally Posted By: CPWILL

Thems' as is wise over long periods of time tends to gets. Thems as is foolish tends to lose.


That model does not fit the empirical data.


Quite the contrary. A brief overview of American Millionaires (folks who, I think, we can safely say, "has gots") demonstrates precisely that trend.
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