Have’s and Have Not’s

thorhammerTonight at work I accidentally kinda sorta stumbled onto one of those areas of conversation you’re not supposed to bring up at work.  It just sort of happened, all sudden like.   At one point I remember thinking to myself, “dear god, what are you doing?  Do you realize where you’re at?!”  But then the other half of me tells that half “fuck you, this needs to be said!  Damn the man!”  Or something along those lines.  I remember my Biomedical Ethics professor used to tell me that I needn’t hit people over the head with the hammer of reason so often.  Perhaps I should try planting a seed of doubt instead.  Dialogue, conversation, and changing someones mind are equal parts art form and reason.  Yea right!  Pfftt!  Shows how much he knows…

It all begun innocently enough; “maybe some of the CEO’s bonus could go to getting us some extra help on the floor?”  Exit stage left.  Enter stage right: WaldoDude.  “Well you know, CEO’s typically earn quite a bit more than most (When I say quite a bit more I mean their yearly bonus is more than what my sum of the occupants in my neighborhood will make in their lifetime)”  And from there it only got worse.  I couldn’t hold back the flood gates.  Could not stop myself!  As someone who has recently risen above the amount for 2012 median household income, I simply despise the idea of any one person making substantially larger sums than any other individual.  To me, it just doesn’t add up.

When I was nearing the end of school and preparing for graduation, I remember thinking that my entire life was about to change.  I had never made more than minimum wage up until that point.  Suddenly I was going to be making 4x or 5x the amount I had made previously in life?  Sure I worked my ass off and granted I was going to be in debt until the cows come home, but what about me had changed to such an extent that I suddenly deserved half an order of magnitude more now than I did before?  Was I 5x more valuable than someone who didn’t make as much as I did?  Is a CEO who makes 380x more than me that much more valuable?  Are people really okay with such large wealth discrepancies?  Am I making a mountain out of  a mole hill?  What the fuck?!

We know that approximately 42% of America’s wealth lies in the hands of the top 1%.  For some reason this is a figure that until graduation didn’t mean a whole lot to me.  Up until that point pretty much everything out there was so far beyond my grasp that it may as well have not existed.  Burrito at the new burrito shop?  Not a problem.  Night out on a town?  Sure, every once in a while.  New video game?  Maybe  every now and again.  New wardrobe?  Think again.  How about a new car?  Go fuck yourself.  Buying a new home?  Seriously, die.  Now that I’ve graduated it looks like I’ll be paying loans back for the next 20-30 years in an effort to catch up, so why don’t I hear more about this?  What aren’t people more vocal and upset?

I think part of why I don’t hear more on the subject is that making more than ~50k a year is analogous to the way I looked at life before I graduated.  It’s so far fetched and impossible that it’s relegated to the land of myth and legend.  It’s almost as if it’s something that doesn’t really exist, but yet it does.  Because I don’t come anywhere close to fitting into the top 1% bracket, it’s easy to forget that it’s even there.  What’s it like to want for nothing?  I don’t know, I’ve never experienced that.  How can I put myself in the shoes of someones life I have a difficult time dreaming up?  There are individuals on this planet who have enough money to not only purchase sports teams, but have so much wealth generated that they could hypothetically create a second league and fund every team and every stadium by themselves.  These are people who are capable of not just purchasing luxury vacation homes, but entire islands unto themselves.

Thinking about the titanic scale of difference between the top 1% and everyone else inevitably causes me to rethink my ideas about the financial gaps at my own work.  A new grad RN can be brought on for around ~50k annually.  Anesthesiologists on the other hand can expect to earn an average of around $343,000 per year.  But WaldoDude, Anesthesiologists go to school forever!  That’s why they earn more!  Well, there’s clearly no debating that.  But what if tomorrow everyone woke up and decided to pursue a specialty?  What if everyone decided to get respective doctorates and graduate degrees in their applicable fields?  It’s simply not feasible.  In order to have people at the top, you have to have others at the bottom.  In my world, I liken RN’s to information gatherer’s and MD’s as information processors.  There’s no debating that it takes more schooling and more knowledge to process the info and decide on a plan of care for a patient.  However, there’s no way that job can be done without an informant gathering info.  Further, there’s no way I can do my job without the help of clerks, aids, social workers, physical therapy, respiratory therapy, etc.  Why then if our jobs are interconnected and we all can’t be at the top, are we compensated with such lopsided amounts?

I’m hoping that people don’t get the impression from this that I’m ungrateful with where I’m at because that’s definitely not the case.  I’m happy just to be alive.  I don’t buy into heaven or hell and I’m convinced that this is the only life we have and I want to make the most out of each and every day.  I regret that I can’t live 1000 lifetimes in order to experience each and every facet life has to offer.  Financially speaking I also feel somewhat comfortable with where I’m at (although I clearly question whether or not I should).  I’m miles beyond where I’ve lived most of my life and it’s surreal at times to think I’m not homeless and I’m even dating someone who considers me a decent catch!  However, after all that is said, moving forward the same way we have been doesn’t seem to be a sustainable option.  Accounting for inflation, it costs more to earn less from a bachelor’s degree now than it did 40 years ago.  Fast forward another 50 years, does that mean my progeny will require doctorates to make what I’m making now?

Forget any specific quotes, stats, figures, or numbers about economics.  As time goes on, resources do not increase, they decrease.  Population continues to increase.  Competition will continue to increase.  Not only will there never be another Rockefeller family, but cutting out your own slice of the ever-shrinking pie becomes that much more difficult with each passing year.  Meanwhile while you battle for less, more and more wealth continues to accumulate in the hands of the wealthiest Americans.  Is it fair?  No.  Is it life?  Yes.  Should I be worried that 75% of the population in World of Warcraft contains just 14% of the gold?  No, and for that I thank the Chinese farmers who endlessly toil behind bars to help me pad my virtual coffers.

13 comments

  1. Going to (university) in Texas, its depressing seeing Business and Engineering as the only paths to take if I wanted to make more than an average income. Doing anything in Communications, Liberal Arts, Social Work seems to be a student loan grave yard if you don’t have the right scholarships or parents who can help you with tuition.

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  2. Interestingly enough, I just read an article last night that said the top 85 richest people in the world have as much wealth as the 3.5 billion poorest, a staggering statistic. While it’s nice that super rich people like Bill Gates donate huge amounts of money to various organizations, there are still many, many rich people out there hoarding millions and billions to themselves, utterly disgusting. Maybe its me but I never understood people’s fascination with money, obviously its important to sustain life here in a First World Country, buy food and water, pay bills and not live on the street, but some people get a tad ridiculous with it, people who are possessed by their possessions. A wise man once said that banks are closed on Sundays, cause if they weren’t, churches would be empty, because Americans worship money. That wise man was indeed…. Chris Rock.

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  3. Sounds like we have a commie in our midsts, boys!

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  4. Waldodude, you missed the mark on this one big-time.

    Resource scarcity
    In your last paragraph you say resources will always diminish, then state 2 resources will constantly increase. Do you see how that fails any logic test? Money is not finite at all. The US had a GDP of $15.6 trillion in 2013, the entire world’s GDP was ~$88 trillion. Yet there exists only $1.27 trillion in US currency in the whole world. As we move further away from a cash economy and towards a digital economy, the amount of money possible to exist approaches infinity. When was the last time you were paid in dollar bills? When was the last time you paid for something in dollar bills? Of your total spending, how much of it is cash?

    Even ‘natural’ resources such as food and water aren’t as limited as people believe. If the population of the entire world was to suddenly begin consuming food and water at the rate in the US, the planet could sustain it for centuries, and that includes the population growth. Current technology allows nearly all water to be potable, and GMO’s currently have the ability to feed the entire population of the world on 1/15th the currently cultivated farmland. That means if the US switched to entirely GMO crops, we could feed the planet off the production of US crops for the next century.

    Right now the largest barrier to increasing world production isn’t water or food, but energy. Energy creation and transmission is the largest barrier to global production right now. How can we build/farm/develop land when the nearest reliable power source is at-home charcoal-burning generators? There’s a reason China is growing its power grid at a rate of 10% a year, they know the more energy they have the more they can produce. Compare that to US energy growth, which has negative growth year-to-year since 2010, and has been shrinking since 2008! A picture is worth 1,000 words so check this out and think how much growth is left in the world.
    http://geology.com/articles/night-satellite/satellite-view-of-earth-at-night.jpg

    Executive pay
    Its sad that CNN Money would run with a story about CEOs vs average workers whose only source was the AFL-CIO. Its really amazing considering CNN Money does know how execs are compensated. To illustrate, Larry Ellison founded Oracle back in the late 70’s, and has grown it into a $100 billion business. He is listed as receiving $96.4 million in compensation for 2012. It ignores that Ellison owes $4 billion (with a b) to Oracle, who holds ~140 million of Ellison’s ~1 billion (again with a b) shares in lieu of payment. It also forgets to mention that of that $96.4 million, $90.7 million came from matured options he received in 2011. He received those options because in 2011 Oracle’s revenue increased 38% and stock holders received a 20% increase to dividends. Of the 27 years Oracle has been publicly traded, 25 years were profitable. There’s a reason the stockholder’s have never voted to remove Ellison as CEO, its because he makes them gobs of money, himself included. His ~25% stake in Oracle paid out $200 million in dividends in 2013 IIRC.

    My point is this: if the stockholders thought Ellison was getting paid too much and someone else could do better for less, he wouldn’t be CEO. In 2012 and 2013 they questioned his compensation packages (He’s been the highest or second-highest paid CEO since 2004), but they NEVER sought to remove him from the Board of Directors.

    When it comes to general CEO compensation, I don’t really see a problem. If you were to have questions about something pertaining to your job Waldodude, you could ask another nurse. If they don’t have an answer you can go to your floor/charge nurse. If THEY don’t have an answer you could go either the Head of Nursing of some administrator on-call. So in your job their are probably 4-5 people directly above you who can solve nearly any problem you have. Their are 5 people between me and the CIO (I work in IT). This hierarchy describers most people in our shared income bracket. When a CEO has a problem, he doesn’t have any layers of management above him to help solve problems. He may hire a consultant to help him make decisions, but their isn’t any kind security net for the decisions they make. CEOs aren’t insulated from their choices (good and bad) like we are. They are the final stop for responsibility of a fuck-up. Howard Stringer, Ron Johnson, Carly Fiorina, and John Riccitiello are all examples of CEO’s who were told, ever so politely, to fuck-off and never return. All are unemployed (or working for free) former CEO’s who will never work in business again (maybe a middle manager position). And these are just recent, high-profile firings of CEOs. When you consider the high-stress, low-information, and possibly career-ending decisions they make all the time, their compensation is fair.

    Top 1%
    When you were younger you were making minimum wage and now that you’re older, have more education, and more experience, you’re making ~$50k/yr? Congratulations, you’re experiencing income/wealth mobility! You’ll have a 6-figure income by the time you’re 55 Waldodude. Guess what, it works that way for just about everybody. People always start out poor when they’re young and grow into the middle-and-upper class over the course of their lifetime. Your lifetime earnings, if you don’t get anymore education/certifications and continue in your field will be ~$3.1 million (assuming you earn over the next 35 years). That doesn’t include any investments, retirement benefits, or anything else other than your salary from nursing. Of course you could choose to get more education and become a cardiac nurse or anesthesiologist and increase your salaried earnings, but thats not the best way to increase your wealth.

    When you look at how the top 1% earn their money you see a trend. Most 1%ers break the barrier through labor, but then stay a 1%er and grow through investment, and I don’t mean investing in education either (though some have made alot on for-profit colleges). Check out the average age of millionaires and it will become obvious that income/wealth mobility is real and happens over a lifetime. Browse through the Forbes 400 and you’ll consistently see people who either 1) made a product/service and then became rich from the IPO; 2) moved from investing for others to investing for themselves; 3) made investments over 2, 3, or 4 decades before becoming rich; 4) inherited it. If you want to be in the 1% it seems the best way is to make enough income that you can put some of it in the markets.

    I was a member of the 1% in 2006 and 2007, it wasn’t great. I still wanted things I could only dream of, money was still an issue, and my health (physical and mental) went to shit. I was 21 when I started making $30-55k a month. I was working 14-16 hours a day, 6 days a week. I worked everyday but Sundays for nearly 2 years, including Christmases. I was so burnt out at the end I quit and did nothing for the next 6 months. I used the money I had saved to go to school and live for 5 years so when I came out of college I didn’t have any debt. I’m now working 40% as hard as I used to for 11% of the money. I still wouldn’t go back to that lifestyle for even twice what I was making, but I do plan continue building my investments so that 9 years from now my salary and capitol gains income should put me back to where I was.

    Waldodude, you WANT to be in the top 1%. Its not the greatest thing ever, you won’t have everything you want, but you WILL have financial security. You won’t worry as much about your car, or your phone bill, or your internet bill, or if you can afford some stupid $100-200 tech toy. You’re right to worry YOU’RE being squeezed by cost of living increases, because costs are going up and have been since the 70s, while wages remain flat. But no one is doomed if they’re paying attention and taking the opportunities provided to them.

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  5. Hear that, WaldoDude? If you’re not a millionaire by the time you’re 55, it’s because you’re a fucking scrub. All that other stuff you know to be true cuz you lived it? Ignore it, cuz the truth is you and 99% of the population out there are just scrubs.

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  6. Gangerworld:
    the truth is you and 99% of the population out there are just scrubs.

    I know you’re trying to be sarcastic, but you hit the nail on the head.

    Waldodude, Xcal, and DB all dedicated huge portions of their lives to being the best BF1942 players on the planet. At the time there were maybe 60 players at that level out of a gaming population of 3.5 million, and the other 3.499 million players were scrubs. They were playing 10 or more hours a day to be the best and stay there. Did you think that’s something only found in video games? Whats the difference between Stephen King and Harry Connolly? Anne Rice and a Rachel Caine? Michelangelo and Doris Lee? Dedication, practice, and time.
    That reality is reflected in every aspect of life. I hope for your sake no one has been lying to you, telling you its easy.

    Waldodude has already said he works to live and doesn’t live to work, and I can respect his choice to sacrifice wealth in exchange for doing the things he wants to do now. But he should understand that some people make a different decision. I burned out after just 22 months of working 14 hour days, 6 day weeks. Pierre Omidyar worked that hard for close to 5 years. Larry Ellison worked that hard for more than a decade. Should I begrudge their excellent dedication, their sacrifice of nearly every other aspect of their lives? Does their hard-work diminish my own, or anyone elses? Anyone who totally dedicates themselves to a goal is going to be far-and-away better that someone else who just wishes for that goal.

    If it makes you happy though, Waldodude is already in the top 1% of global earners who control 65% of all wealth. That only takes an annual net income of $34,000USD. And if you’re not there with us, then you’re a wealth scrub.

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  7. William Malm:
    Going to (university) in Texas, its depressing seeing Business and Engineering as the only paths to take if I wanted to make more than an average income. Doing anything in Communications, Liberal Arts, Social Work seems to be a student loan grave yard if you don’t have the right scholarships or parents who can help you with tuition.

    Holy shit do I have bad news for this kid. Yeah, so the majority of students now days are going the same route as yourself because of the job opportunities that are available now. But because so many are doing it they are flooding the market, driving the cost of their labor way down. So you will most likely get a job at 50k out of college and then hover around that for the rest of your career. The other sectors such as communications and social work will see an increase in demand for labor in their market, especially with older people retiring and very few to replace them, and even though the pay is low right now in 5-10 years it will be going up and will continue to do so. I entered the job market in mediation 8 years ago, very difficult to find a job and the pay sucked at first. Now it is very lucrative, lots of work, high demand that increases every year. A business degree is the next coming of a poly-sci degree, very popular and used to pay well, not worth shit today.

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  8. As for Wallys post, yeah the CEOs that are getting ridiculous bonuses at the cost of their workers is fucking insanity. Most of the time those bonuses go out with increased payouts to investors or more often board members- the ones who sign off on the bonus. The practice has gotten out of hand. Those people you can be pissed at, especially the new practice of public university presidents getting huge bonuses while student costs rise. Fuck them they should be in prison. As for the 1% people, most people envision them having a Scrooge McDuck swimming pool of cash and thats not true. The vast vast majority of their money is tied up in investments and unfortunately most of that money that should be going to help the lower sectors of the economy and its overall growth is instead being funneled out as bonuses and stolen by Wall Street assholes. The 1% is not the problem, but the ones that feed off of them most certainly are. 1%ers are not giving themselves bonus money, they do not need to, CEOs that do so are not in the 1% club. Neither are they creating unsustainable markets to make government insured money off of, it is too risky, those would be the investment bankers and high yield traders.

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  9. WhyDoesItBurn:
    Waldodude, you missed the mark on this one big-time.

    Resource scarcity
    In your last paragraph you say resources will always diminish, then state 2 resources will constantly increase. Do you see how that fails any logic test? Money is not finite at all. The US had a GDP of $15.6 trillion in 2013, the entire world’s GDP was ~$88 trillion. Yet there exists only $1.27 trillion in US currency in the whole world. As we move further away from a cash economy and towards a digital economy, the amount of money possible to exist approaches infinity. When was the last time you were paid in dollar bills? When was the last time you paid for something in dollar bills? Of your total spending, how much of it is cash?

    Even ‘natural’ resources such as food and water aren’t as limited as people believe. If the population of the entire world was to suddenly begin consuming food and water at the rate in the US, the planet could sustain it for centuries, and that includes the population growth. Current technology allows nearly all water to be potable, and GMO’s currently have the ability to feed the entire population of the world on 1/15th the currently cultivated farmland. That means if the US switched to entirely GMO crops, we could feed the planet off the production of US crops for the next century.

    Right now the largest barrier to increasing world production isn’t water or food, but energy. Energy creation and transmission is the largest barrier to global production right now. How can we build/farm/develop land when the nearest reliable power source is at-home charcoal-burning generators? There’s a reason China is growing its power grid at a rate of 10% a year, they know the more energy they have the more they can produce. Compare that to US energy growth, which has negative growth year-to-year since 2010, and has been shrinking since 2008! A picture is worth 1,000 words so check this out and think how much growth is left in the world.
    http://geology.com/articles/night-satellite/satellite-view-of-earth-at-night.jpg

    Executive pay
    Its sad that CNN Money would run with a story about CEOs vs average workers whose only source was the AFL-CIO. Its really amazing considering CNN Money does know how execs are compensated. To illustrate, Larry Ellison founded Oracle back in the late 70′s, and has grown it into a $100 billion business. He is listed as receiving $96.4 million in compensation for 2012. It ignores that Ellison owes $4 billion (with a b) to Oracle, who holds ~140 million of Ellison’s ~1 billion (again with a b) shares in lieu of payment. It also forgets to mention that of that $96.4 million, $90.7 million came from matured options he received in 2011. He received those options because in 2011 Oracle’s revenue increased 38% and stock holders received a 20% increase to dividends. Of the 27 years Oracle has been publicly traded, 25 years were profitable. There’s a reason the stockholder’s have never voted to remove Ellison as CEO, its because he makes them gobs of money, himself included. His ~25% stake in Oracle paid out $200 million in dividends in 2013 IIRC.

    My point is this: if the stockholders thought Ellison was getting paid too much and someone else could do better for less, he wouldn’t be CEO. In 2012 and 2013 they questioned his compensation packages (He’s been the highest or second-highest paid CEO since 2004), but they NEVER sought to remove him from the Board of Directors.

    When it comes to general CEO compensation, I don’t really see a problem. If you were to have questions about something pertaining to your job Waldodude, you could ask another nurse. If they don’t have an answer you can go to your floor/charge nurse. If THEY don’t have an answer you could go either the Head of Nursing of some administrator on-call. So in your job their are probably 4-5 people directly above you who can solve nearly any problem you have. Their are 5 people between me and the CIO (I work in IT). This hierarchy describers most people in our shared income bracket. When a CEO has a problem, he doesn’t have any layers of management above him to help solve problems. He may hire a consultant to help him make decisions, but their isn’t any kind security net for the decisions they make. CEOs aren’t insulated from their choices (good and bad) like we are. They are the final stop for responsibility of a fuck-up. Howard Stringer, Ron Johnson, Carly Fiorina, and John Riccitiello are all examples of CEO’s who were told, ever so politely, to fuck-off and never return. All are unemployed (or working for free) former CEO’s who will never work in business again (maybe a middle manager position). And these are just recent, high-profile firings of CEOs. When you consider the high-stress, low-information, and possibly career-ending decisions they make all the time, their compensation is fair.

    Top 1%
    When you were younger you were making minimum wage and now that you’re older, have more education, and more experience, you’re making ~$50k/yr? Congratulations, you’re experiencing income/wealth mobility! You’ll have a 6-figure income by the time you’re 55 Waldodude. Guess what, it works that way for just about everybody. People always start out poor when they’re young and grow into the middle-and-upper class over the course of their lifetime. Your lifetime earnings, if you don’t get anymore education/certifications and continue in your field will be ~$3.1 million (assuming you earn over the next 35 years). That doesn’t include any investments, retirement benefits, or anything else other than your salary from nursing. Of course you could choose to get more education and become a cardiac nurse or anesthesiologist and increase your salaried earnings, but thats not the best way to increase your wealth.

    When you look at how the top 1% earn their money you see a trend. Most 1%ers break the barrier through labor, but then stay a 1%er and grow through investment, and I don’t mean investing in education either (though some have made alot on for-profit colleges). Check out the average age of millionaires and it will become obvious that income/wealth mobility is real and happens over a lifetime. Browse through the Forbes 400 and you’ll consistently see people who either 1) made a product/service and then became rich from the IPO; 2) moved from investing for others to investing for themselves; 3) made investments over 2, 3, or 4 decades before becoming rich; 4) inherited it. If you want to be in the 1% it seems the best way is to make enough income that you can put some of it in the markets.

    I was a member of the 1% in 2006 and 2007, it wasn’t great. I still wanted things I could only dream of, money was still an issue, and my health (physical and mental) went to shit. I was 21 when I started making $30-55k a month. I was working 14-16 hours a day, 6 days a week. I worked everyday but Sundays for nearly 2 years, including Christmases. I was so burnt out at the end I quit and did nothing for the next 6 months. I used the money I had saved to go to school and live for 5 years so when I came out of college I didn’t have any debt. I’m now working 40% as hard as I used to for 11% of the money. I still wouldn’t go back to that lifestyle for even twice what I was making, but I do plan continue building my investments so that 9 years from now my salary and capitol gains income should put me back to where I was.

    Waldodude, you WANT to be in the top 1%. Its not the greatest thing ever, you won’t have everything you want, but you WILL have financial security. You won’t worry as much about your car, or your phone bill, or your internet bill, or if you can afford some stupid $100-200 tech toy. You’re right to worry YOU’RE being squeezed by cost of living increases, because costs are going up and have been since the 70s, while wages remain flat. But no one is doomed if they’re paying attention and taking the opportunities provided to them.

    I’m not sure where I said that resources will always increase, but that’s clearly not the case. It’s quite obvious that resources are finite and harder to come by with each passing day.

    In an effort to cut to the chase of your point(s), I don’t have a problem per say with certain individuals making more than others. I have a problem with how great of a financial gap there is between the top 1% and everyone else. Not only that, but as you pointed out, it gets harder and harder every year to compete. The gap continues to grow. Even if you were in the top 1% as you mentioned, you’ll never come anywhere close to touching the wealth that certain individuals have already amassed.

    I also don’t believe that regardless of hard work, everyone has the same shot at obtaining wealth which is what I also attempted to spell out. It simply isn’t feasible for every last person to obtain CEO status assuming every last person wanted to do so. In order for some people to make it, others cannot. That’s to say nothing of the wealth/status/connections that are brought on by the virtue of ones birth. 90% of the guys I met in the military had at least 1 parent in jail, and often times the other was either dead or selling their body/drugs/guns etc. Whatever my likelihood is of breaking into the top 1% their chances are infinitely lower.

    You’re right when you say I could make more money if I worked more and sacrificed my other hobbies. Medicine is a relatively easy way to enter the six figure club. As I pointed out before however, it’s not possible for everyone to go into medicine. We need people fixing the toilets in the hospitals. We need people delivering the meals. If it’s not possible for everyone to slide into the same slot, then why is there such a big discrepancy between slots. Not that there shouldn’t be something, but IMO it seems skewed.

    As far as my personal job goes, I wouldn’t recommend the RN position to anyone else. The relative risk/reward is absurd. I work in an extremely high acuity medical/surgical setting where rapid responses and code blues are the soup du jour. I would never pretend to contain a fraction of the knowledge an MD has at their disposal, but I alone decide the minute by minute decisions that affect my patients lives. IMO, nursing isn’t a great example because of how much is demanded from the profession and how little compensation they receive for it. Often times I envy my friends in business because of how much less stress would be associated with no longer to worry about keeping sickly people alive, but being sued into oblivion and losing your job if you do happen to make a mistake.

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  10. MrCounterparts:
    Interestingly enough, I just read an article last night that said the top 85 richest people in the world have as much wealth as the 3.5 billion poorest, a staggering statistic. While it’s nice that super rich people like Bill Gates donate huge amounts of money to various organizations, there are still many, many rich people out there hoarding millions and billions to themselves, utterly disgusting. Maybe its me but I never understood people’s fascination with money, obviously its important to sustain life here in a First World Country, buy food and water, pay bills and not live on the street, but some people get a tad ridiculous with it, people who are possessed by their possessions. A wise man once said that banks are closed on Sundays, cause if they weren’t, churches would be empty, because Americans worship money. That wise man was indeed…. Chris Rock.

    Likewise, I think it’s great that they donate money too. It’s wonderful that the gates donate billions of dollars every year. I wonder though, what would it be like if they didn’t have to donate billions and everyone had more money to invest back into the economy? I don’t know if this is completely ridiculous or not as I’m not very adept with economics, but sometimes I wonder..

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  11. I think that the expenses you put into getting a doctorate in a subject are what gets you to earn more.

    Because of you have to invest years, and a boatload of money, into education, it is only profitable when it earns you a significant amount more. Otherwise no one would get education. There has to be some motivation to get smarter and invest time and money, and the number 1 motivator is money for most people.
    Then again, insane money for some CEO doesnt sound right either.

    Conclusion in my opinion: You said you enjoy life (so do I) , so make sure that you get most out of it and stop pondering about stuff that you cant change anyhow. (not that I really follow my own advice, but that’s a classic I suppose)
    Have fun, like you already do! Godspeed WladoDude, godspeed good man!

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  12. As soon as I found this internet site I went on reddit to share some of the love with them. abebdefagdeg

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  13. I just quit my job at a pizza place where i experienced some of the worst employee pay rates ever. I, being a baller, always demanded a raise for every skill i learned and as a result got one. other people in the company (which was corporate) were taken advantage of to no end. No set schedules, people having to get two jobs because they couldn’t get paid enough is just the beginning. There were people there who were much much better than me at the same job and were getting paid almost a dollar less per hour. I had only worked there four months before I quit whereas other people receiving the same or less pay had been working there for two years or more. Also the management wasn’t fit to serve spaghetti to dogs and the other employees were always fighting(with fists), talking about gangs, and not showing up for work. I live in probably one of the most liberal parts of south carolina by the way….no pun intended. Charleston sc is a million miles apart from beaufort sc where i grew up. luckily grew up atheist and liberal, but aside from all that i should stop telling my life story and get to the point. I would love to see the spread of wealth be focused on people in low positions so that they can enjoy their lives too. About what some guy who posted a long paragraph somewhere above me thinks that you should only be successful if you work all fuckin day and night, I think that is total bullshit. We need to construct a society where you can happily pursue a life and passions outside of work. Not every joy, experience, or fulfilling experience is about the nine to five. Your missing 99.99999% of what the world has to offer if you live your life surrounding work.

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