The growing anxiety between the rich and the poor is a fact, although it is not the story of a handful of money-grubbers who sucked up all the cash in 1979, and then
Watch Payne's Playbook Charles explains how investors can assess and adjust for downside risk in the market. Catch the show tonight at 6 on Fox Business.
kept taking more. It is a story about successful people who simply make a lot more money for their skills. LeBron James will sign a record-breaking contract somewhere to play professional basketball. I am guessing he will pull in around $30,000,000 a year, unless he defers income for the sake of the team and only takes $25,000,000. This will put the "King" in the same income category as someone earning $394,000 annually.
Yes, LeBron will probably make more money in three hours than his fellow members of the "rich" club. In spite of this, LeBron could stroll through a ruckus Occupy protest and be treated like the common man. However, the guy who is making less than a million dollars driving to work through the gates of his own community could be pelted with eggs and insults. This is the upside down world, in which we live. We tell pollsters that the self-made get a free pass on hate, but in reality, if they were wearing a suit and tie, the crowd would cry foul.
I saw this first-hand when Russell Simmons got the royal treatment during Occupy Wall Street, even though his main source of income comes from charging people a fee for having access to their own money. Still, he is self-made man, but the same mob would never think that a well-dressed woman, berated as she walked to her job at Goldman Sachs, might have worked in a Dairy Queen to help pay for college.
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