behavior of the rich – Coast Contact

The Week magazine reports that the combined net worth of the 300 richest people in the world climbed by $524 Billion in 2013. This was an analysis by the Bloomberg Billionaires Index. Those 300 people now have a combined total wealth of $3.7 Trillion. That is more than the gros domestic product of every country in the world except the U.S.A. and China.

Bill Gates is now worth $78.5 Billion.

Instead of raising the minimum wage why not cap the maximum earnings for any individual? Forty years ago top executives earned about 20 to 30 times the average worker. That discrepancy is now 200 times or more.

The answer is obvious. The rich have the money to influence the laws. The Poor? Honestly they have nothing to offer.

It seems people in power consider themselves exempt from the standards that are expected from the 98%. They not only behave differently, they have a set of moral values that are somewhat different from we mere mortals. It’s not everyone who is wealthy but it is many.

Just today we have learned that General David Petraeus has resigned as the head of the CIA attributing his resignation to an illicit affair. The Washington Post reported today that Lockheed Martin’s incoming CEO has resigned as the result of a “close personal relationship with a subordinate employee.” Best Buy CEO Brian Dunn resigned last April after the company confirmed that it is investigating allegations that he engaged in personal misconduct. Mark Hurd was CEO of Hewlett-Packard Company until he was forced to resign in 2010 after his sexual harassment-expenses scandal.

Of course there have been other reasons than affairs. Yahoo Chief Executive Scott Thompson stepped down after a dissident shareholder called attention to an apparent misrepresentation of his college credentials.

Among recent politicians we all remember that President Bill Clinton had an in the office affair with Monica Lewinsky.

So where does it stop? Sadly, only when someone learns of the deed. These events are fodder for a news media looking for something to report. John Edwards, candidate for president, was initially outed by a supermarket tabloid.

None of this is my problem. I hope it’s not yours.