A Bit Rich

Bob Roberts
• Monday, 02 November, 2020
• 7 min read

That's a bit rich, considering you've never helped pay the rent or any of the bills in this house. I find it a bit rich that the politicians supporting this tax cut to the richest portion of the population would claim that it is for the benefit of the working class. Informal you say that someone's criticism is a bit rich, you mean that they themselves are guilty of the same fault.

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(Source: amperbike.co.uk)


Collins COULD Idioms Dictionary, 3rd ed. 1998Times It is also a bit rich for Mr Games to reprove Buckingham Palace for its ‘new, slick, emphasis on presentation’, while speaking for the organization that invented ‘rebranding Britain’.

Famous phrase mainly use in the UK, AUS and New Zealand It is used to counter-strike someone's criticism, when you think they're just as bad Disgraced attorney Rudy Giuliani’s face became drenched in sweat and hair dye as he invented evidence of widespread voter fraud during President Trump’s clown coup.

Beyond a narrow notion of productivity, what impact does our work have on the rest of society, and do the financial rewards we receive correspond to this? The controversies over City bankers’ bonuses raise fundamental questions not only about the remuneration of senior executives and public servants but also about the relative value of the work of everyone in our society.

We still set wage floors today to ensure there is a minimum below which employers are not allowed to hire. There is little political appetite for reining in high pay, and the idea of setting a ceiling on the remuneration of top executives has failed to gain any meaningful momentum.

By the same token, in some sectors, a shortage of skills or the exploitation of monopoly power has allowed a privileged few to capture very high rates of pay. Sectors such as finance are notorious for sky-high salaries and big bonuses, as remuneration committees are self-regulating and accountability to shareholders is often weak.

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By making social value creation an important societal goal we could set the right incentives to maximize net social benefits, ensure a greater return to labor rather than capital, and a more equal distribution of economic resources between workers. But the earnings they command and the profits they make come at a huge cost because of the damaging social effects of the City of London’s financial activities.

We found that rather than being ‘wealth creators’, these City bankers are being handsomely rewarded for bringing the global financial system to the brink of collapse. W hile collecting salaries of between £500,000 and £10 million, leading City bankers to destroy £7 of social value for every pound in value they generate. Providing a valuable service for families, childcare workers release earnings potential by allowing parents to continue working.

They also unlock social benefits in the shape of the learning opportunities that children gain outside the home. Although the role of an advertising executive has high status, the impact of the industry has always been a point of controversy.

It can create insatiable aspirations, fuelling feelings of dissatisfaction, inadequacy and stress. In our economic model we estimate the share of social and environmental damage caused by overconsumption that is attributable to advertising.

For a salary of between £50,000 and £12 million, top advertising executives destroy £11 of value for every pound in value they generate. Hospitals and help maintain standards of hygiene to protect against infection, but they also contribute towards wider health outcomes.

(Source: chinaplanet.sk)

Determining the right amount of tax payable is a specialist skill and often requires professional support. Carbon emissions are significantly reduced when goods are recycled instead of sending them to incineration or landfill.

Our case studies show that high salaries don’t necessarily reflect talent. Even if they did, it is not clear that the best and brightest would be prepared to uproot their families and hike across the world for higher wages.

The evidence suggests that more equal countries manage to retain their fair share of innovation and cultural capital. People at the bottom of the income distribution scale spend more time on domestic and caring responsibilities than their highly paid counterparts.

Autonomy, control in the workplace, income and status all contribute towards a sense of satisfaction and fulfillment at work. If high pay is partly intended to compensate for risk, stress and long hours then we would expect dangerous jobs to be well rewarded.

Empirical studies have demonstrated that pay arrangements are geared towards serving the financial interests of managers, not shareholders. Conclusions This report is not about targeting any individuals in the highly paid jobs it scrutinizes.

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The stakes are high: without proper checks and balances we believe our economic system could squeeze out those aspects of life that people value most. This has been echoed recently by Compass and others with calls to establish a High Pay Commission.

Explore the possibility of positively discriminating towards people from low-income backgrounds to level the playing field in access to highly paid professions. Until goods and services reflect the real costs and benefits of their production, incentives will be misaligned with the kinds of positive behaviours' society wishes to promote.

Getting the prices right would affect relative profitability and so would align what wages could be paid with the value that is created. Redistribution, particularly of assets and land, is an effective way both to offset inequality and to reward jobs that the market does not.

Mutually owned building societies, co-operatives and land trusts are all models in which ownership takes a more collective form, and benefits are more evenly shared. Instead of a monoculture of mega-banks deemed too big to fail and answerable only to the demands of private shareholders, we need a range of different financial institutions that are focused on social value creation.

Extending parental leave, especially to fathers, would be a further investment in positive child development for the benefit of society. These provisions could be entirely met by recouping the money lost to society through tax avoidance by the wealthiest.

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(Source: www.architecturendesign.net)

This valuable investment would also increase gender equality by improving career options for women. Now Jon Stewart has hosted his last edition of The Daily Show, attention turns to the surprise choice to succeed him on the satirical institution: South African stand-up Trevor Noah.

On growing up in a mixed race family in South Africa during apartheid: “In the streets we couldn't even be seen together. My mum could walk with me but if the police showed up, she'd have to let go of me, drop me and pretend I wasn't hers, because we weren't supposed to exist as a family.

On being called “half-caste”: “I hate that term. Especially if you come from what they consider a high-risk Ebola region, which apparently is the entire continent of Africa.

On female figures: “A hot white woman with ass is like a unicorn. On homophobic laws: “In Zambia, being gay is illegal.

But there has never yet been any excoriation of the British media outlets, including the BBC, that baldly reported the death of Dr David Kelly as a suicide less than an hour after his body had been discovered.

rich bitch
(Source: foursquare.com)

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