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(WTOP)   Good news, everybody. The mega-rich's net worth increased from $1.7 trillion to $2 trillion last year, which means there's gonna be a lot more cash money trickling down to the rest of us very soon   (wtop.com) divider line 469
    More: Cool, rises, T. Boone Pickens, Microsoft Corp., Dustin Moskovitz, Hyatt Hotel, Larry Ellison  
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2447 clicks; posted to Main » on 17 Sep 2013 at 7:52 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



469 Comments   (+0 »)
   
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2013-09-17 08:33:37 AM  

Zeb Hesselgresser: HotWingConspiracy: DrPainMD: Is this the thread where everybody biatches about other people's money when they should be out earning money for themselves?

Yeah massive wealth inequality exists because people are lazy!

In my case, laziness has and will continue to hold me back on the wealth accumulation track.  That's a fact.


Cool.
 
2013-09-17 08:33:48 AM  

Jorn the Younger: You're batting .500

I didn't say hard work doesn't procude results, I said working harder doesn't turn into increased rewards. Increased rewards generally take opportunity and options. Just working harder doesn't cut it.


/need to stop skipping preview
 
2013-09-17 08:33:52 AM  

Lady J: what's to be done? you can't march into people's houses and take wealth


I wish I was so sheltered that I had never heard of "robbery" or "home invasion". That would be really nice.
 
2013-09-17 08:35:08 AM  

give me doughnuts: netcentric: Democrats are hoping angry taxpayers will blame the rich for having to send money to Washington

Class envy.

Despite record tax revenues, the federal government still racked up $755 billion deficit in the first eleven months of fiscal 2013

I think I know why there are issues for the middle class today.   And it isn't because of a few wealthy individuals.

You have to work 107 days in America,  just to pay your tax bill.

Maybe a large bloated Government is the problem.

And yet we have one of the lowest individual and corporate tax burdens in the developed world.
So maybe the problem isn't bloated government.


Because spending 1.30 times what you take in is not a problem? Leaving a debt so large it will consume your descendants isn't a problem? Geez, what do you consider to be a problem?
 
2013-09-17 08:35:17 AM  

Thunderpipes: I assume all of you frown when your 401ks increase in value because of the stock market. Oh way, pot, kettle....


I would rather get a raise than unrealistic increases in numbers on paper. I'll believe in my 401K when they show me the money.
 
2013-09-17 08:37:12 AM  

OnlyM3: baufan2005
2013-09-17 08:13:00 AM


My company took away our bonuses, longevity checks, hell even our Christmas hams. They then cut all employees pay by 10%. The three main bosses just had a huge private parking deck built for only them. Then we constantly hear the line "Just be happy you have a job" I am not really complaining as much as I just wanted to show that Mr. Scrooge is indeed real.
Don't worry, you have hope and change.

A slogan to placate the dumbmasses, because actions are harrrrrd.
Under President George W. Bush (Jan. 2007), black unemployment was 7.9%{1}.
Under Obama it has risen to 13.4% (Oct. 2012).

Too bad Facts are bannable offenses on fark.


Yeah, you're right, the better the wealthy are doing the worse off the lower class is:

upload.wikimedia.org

www.pewresearch.org

Thanks for making the case.
 
2013-09-17 08:39:29 AM  

untaken_name: Lady J: what's to be done? you can't march into people's houses and take wealth

I wish I was so sheltered that I had never heard of "robbery" or "home invasion". That would be really nice.


what are these outlandish concepts? my empty little head is whirling!

don't be thick. robbery and home invasion are illegal, anything you get that way you're not going to be allowed to keep.

the adults are talking about sustainable change
 
2013-09-17 08:39:38 AM  

forcebender: For what it's worth, if you liquidated all that cash and redistributed to the entire US population (350M) that would be a payment of $142 a year for the next 40 years (in 2013 dollars.)  Or a single payment of $5714 ... to EVERY person in the US.


That's a terrible idea. Take it all to a casino, you can double the money EASY! If you don't well then you just made one casino owner very rich, and since you previously took the money from loads of people it should be easier to take it from him, and try again.

It's like an infinite money cheat. Pay off that debt in no time, give yourself a healthy surplus to invest in industry to make yourself self sustaining so you don't need a trade deficit!
 
2013-09-17 08:41:39 AM  
Farkin rich people.

That money should be given to really poor people, who deserve it far more.
 
2013-09-17 08:41:59 AM  

OnlyM3: baufan2005
2013-09-17 08:13:00 AM


My company took away our bonuses, longevity checks, hell even our Christmas hams. They then cut all employees pay by 10%. The three main bosses just had a huge private parking deck built for only them. Then we constantly hear the line "Just be happy you have a job" I am not really complaining as much as I just wanted to show that Mr. Scrooge is indeed real.
Don't worry, you have hope and change.

A slogan to placate the dumbmasses, because actions are harrrrrd.
Under President George W. Bush (Jan. 2007), black unemployment was 7.9%{1}.
Under Obama it has risen to 13.4% (Oct. 2012).

Too bad Facts are bannable offenses on fark.


What do these facts have to do with this anecdotal example of the rich stealing from the poor?
 
2013-09-17 08:42:22 AM  

Lady J: untaken_name: Lady J: what's to be done? you can't march into people's houses and take wealth

I wish I was so sheltered that I had never heard of "robbery" or "home invasion". That would be really nice.

what are these outlandish concepts? my empty little head is whirling!

don't be thick. robbery and home invasion are illegal, anything you get that way you're not going to be allowed to keep.

the adults are talking about sustainable change


You push a people far enough and they'll make sustainable change in a most direct fashion.  They'll decide that the current set of laws have failed them, they'll set aside those laws, and they'll rectify the situation in the most base and primal of ways.  By force.  It's happened over and over and over again, down through history, when a people get pushed too far by those on top.  And time and time again, those on top don't pay attention to history and act all shocked when they get drug down from the top and get killed and their stuff taken.

And just like that line in Armageddon, it's not a matter of 'if' it'll happen again, it's just a matter of 'when.'
 
2013-09-17 08:43:17 AM  

forcebender: For what it's worth, if you liquidated all that cash and redistributed to the entire US population (350M) that would be a payment of $142 a year for the next 40 years (in 2013 dollars.)  Or a single payment of $5714 ... to EVERY person in the US.


FWIW, if you taxed that original portion at 1960's rates with exemptions, and paid for infrastructure / research like our grandparents did, our children's children would lead better lives as well.

Of course, the 1980's f*cked that idea over. Invest in the future? Pfft!
 
2013-09-17 08:44:49 AM  
Inflation
 
2013-09-17 08:45:27 AM  
How is Bill Gates still so rich when he keeps giving it all away? What if he's not really giving anything away? :O
 
2013-09-17 08:45:34 AM  

Lady J: ok nevermind. the crazy has expanded to fill all available space. abandon thread


That was fast.
 
2013-09-17 08:46:02 AM  
However, we've collected record taxes, so there's that.
 
2013-09-17 08:46:43 AM  

Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth


It happens all the time. It's called "Illegal Forclosure" and banks have gotten richer, and nobody goes to jail for it. EVERYONE WINS!

Except for the poor people who lost their house, but who gives a flying fark about them anyway?
 
2013-09-17 08:49:57 AM  
Probably just an effect of all those new rich people that won the lottery, right?
What's the powerball at?
 
2013-09-17 08:50:23 AM  

Bareefer Obonghit: OnlyM3: baufan2005
2013-09-17 08:13:00 AM


My company took away our bonuses, longevity checks, hell even our Christmas hams. They then cut all employees pay by 10%. The three main bosses just had a huge private parking deck built for only them. Then we constantly hear the line "Just be happy you have a job" I am not really complaining as much as I just wanted to show that Mr. Scrooge is indeed real.
Don't worry, you have hope and change.

A slogan to placate the dumbmasses, because actions are harrrrrd.
Under President George W. Bush (Jan. 2007), black unemployment was 7.9%{1}.
Under Obama it has risen to 13.4% (Oct. 2012).

Too bad Facts are bannable offenses on fark.

Yeah, you're right, the better the wealthy are doing the worse off the lower class is:

[upload.wikimedia.org image 800x588]

[www.pewresearch.org image 420x446]

Thanks for making the case.


There are also other factors involved in black unemployment, though I would leave it to an unemployment economist to discuss. I'm just a regular one.
 
2013-09-17 08:51:08 AM  

Neighborhood Watch: I've never understood why liberals are so obsessed with other peoples' money (and/or private property, in general).


It's not just liberals.  Much of that money is has been completely removed from the economy, which hurts everyone.
 
2013-09-17 08:51:41 AM  
It is not the fault of the wealthy, that people did not read the fine print.

Trickle Down starts in the year 2385.
 
2013-09-17 08:51:43 AM  
I thought Barry was going to punish the evil rich, not make them richer. Where's my stuff? I want some stuff!
 
2013-09-17 08:52:13 AM  

HotWingConspiracy: untaken_name: HotWingConspiracy: DrPainMD: Is this the thread where everybody biatches about other people's money when they should be out earning money for themselves?

Yeah massive wealth inequality exists because people are lazy!

In part, yes. People have consistently voted to abdicate personal responsibility onto the shoulders of others. Those others have taken extreme advantage of their position. That is human nature, and is, in part, caused by laziness.

Provide some examples.


The Walton family.

The Koch brothers
 
2013-09-17 08:52:14 AM  

Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth


No, but reasonable actions can be taken to attempt to lower the gap in future earnings while at the same time adding funds to our still unbalanced budget.

Add a couple more higher tax brackets and raise income taxes on the wealthy.
Count capital gains as income over 100K and tax at same rate.
Get rid of the ceiling on earnings for paying social security.
Make sure estate taxes stay around or are reinstated.
Add a very small trading tax on the major US stock markets (.03%) to dampen high frequency trading and gambling for short term profit.  If you want to gamble trade commodities.
Reinstate Glass Steagal or a new version.  Don't let banks be in the mortgage business and trading business.
Raise the minimum wage and peg it to CPI, inflation, or some other sensible metric.
Create a new Federal works program with the goal to rebuild every single defunct federal road, bridge, dam, or other in America.  This will take decades.  If you grow the bottom and middle, the vast wealth at the top becomes less dangerous to the economy.
 
2013-09-17 08:53:54 AM  
Infernalist:
You push a people far enough and they'll make sustainable change in a most direct fashion.  They'll decide that the current set of laws have failed them, they'll set aside those laws, and they'll rectify the situation in the most base and primal of ways.  By force.  It's happened over and over and over again, down through history, when a people get pushed too far by those on top.  And time and time again, those on top don't pay attention to history and act all shocked when they get drug down from the top and get killed and their stuff taken.

And just like that line in Armageddon, it's not a matter of 'if' it'll happen again, it's just a matter of 'when.'


given how there's hardly any guns in america, and everyone's so sensible with the ones they do have, it sounds like it should be a fairly straightforward and peaceable process
 
2013-09-17 08:54:12 AM  

Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth



Well there's really 2 options. We can do it sanely through taxation as we transition to a post-work society as machines are replacing human labour every day...

Or we could have a violent and bloody revolution when the poor get squeezed so much they finally take all that ammo they've been hoarding and destroy every mansion they see.

Which would you prefer?
 
2013-09-17 08:54:20 AM  
Look I understand that if everyone became rich at once, there would be no one to do the tasks necessary to keep society going.  But I just can't wrap my head around the fact how far I am from the top.  I mean if Bill Gates made $100K a year to my 50K, I could swallow it better (halfway to the top!)  But to not be within 6 zeroes of people just blows my mind.
 
2013-09-17 08:55:49 AM  

BraveNewCheneyWorld: Neighborhood Watch: I've never understood why liberals are so obsessed with other peoples' money (and/or private property, in general).

It's not just liberals.  Much of that money is has been completely removed from the economy, which hurts everyone.


Not nearly so much as people think.
 
2013-09-17 08:55:58 AM  

Lady J: Infernalist:
You push a people far enough and they'll make sustainable change in a most direct fashion.  They'll decide that the current set of laws have failed them, they'll set aside those laws, and they'll rectify the situation in the most base and primal of ways.  By force.  It's happened over and over and over again, down through history, when a people get pushed too far by those on top.  And time and time again, those on top don't pay attention to history and act all shocked when they get drug down from the top and get killed and their stuff taken.

And just like that line in Armageddon, it's not a matter of 'if' it'll happen again, it's just a matter of 'when.'

given how there's hardly any guns in america, and everyone's so sensible with the ones they do have, it sounds like it should be a fairly straightforward and peaceable process


No, it'll be a bloody mess.  But it'll happen.  They're pushing people into a corner and getting fairly open about how they just don't give a shiat.  We're not there yet, but we're getting closer.
 
2013-09-17 08:57:47 AM  
If there was only 10 dollars in the entire world and it cost a dollar a day to live and I kept 9 of the dollars in a safe and only let you have access to one of the dollars, you would earn the dollar in a day then have to give it to me to pay for your food etc (which costs me 50 cents) so I print another dollar every two days because that is my `profit` which makes your dollar worth a little less each day so even if you save some it costs that much more to buy your food, pay rent etc so you never get out of poverty.

This is the world we live in except scaled up. It does not matter how hard you work, I control the money so I make damn well sure your work will not improve your life, only mine.

In what way am I *not* being a coont to you?  In what way is the situation *not* my fault?
 
2013-09-17 08:58:12 AM  
If hard work really = better pay, then illegal immigrants should be sitting on piles of cash by now.
 
2013-09-17 08:58:31 AM  
What has actually happened is that the efforts of the middle and lower classes have been funneled into the pockets of the top due to reductions in benefits, hours and cost of living wage increases. And the only thing that's going to trickle down, the only thing that's been passed down for about three decades now, is the inflation.
 
2013-09-17 08:59:25 AM  

ltdanman44: [i.imgur.com image 600x471]


i know right?
 
2013-09-17 09:00:44 AM  

VendorXeno: What has actually happened is that the efforts of the middle and lower classes have been funneled into the pockets of the top due to reductions in benefits, hours and cost of living wage increases. And the only thing that's going to trickle down, the only thing that's been passed down for about three decades now, is the inflation.


Don't forget about the tripling of worker efficiency thanks to technology, so one person now does the work of three, for less pay.
 
2013-09-17 09:01:06 AM  

maddogdelta: HotWingConspiracy: untaken_name: HotWingConspiracy: DrPainMD: Is this the thread where everybody biatches about other people's money when they should be out earning money for themselves?

Yeah massive wealth inequality exists because people are lazy!

In part, yes. People have consistently voted to abdicate personal responsibility onto the shoulders of others. Those others have taken extreme advantage of their position. That is human nature, and is, in part, caused by laziness.

Provide some examples.

The Walton family.

The Koch brothers


What personal responsibilities did people abdicate that these people took advantage of to accumulate wealth?
 
2013-09-17 09:01:10 AM  

Neighborhood Watch: You know, posting comments on Fark.com doesn't pay.

What's amazing is how many liberals will sit here and do it all day long... while complaining about how 'unfair' it is that they're broke.


/wasting time on Fark is DEFINITELY not a job that's been shipped overseas


static.giantbomb.com
 
2013-09-17 09:01:11 AM  

Carn: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth

No, but reasonable actions can be taken to attempt to lower the gap in future earnings while at the same time adding funds to our still unbalanced budget.

Add a couple more higher tax brackets and raise income taxes on the wealthy.
Count capital gains as income over 100K and tax at same rate.
Get rid of the ceiling on earnings for paying social security.
Make sure estate taxes stay around or are reinstated.
Add a very small trading tax on the major US stock markets (.03%) to dampen high frequency trading and gambling for short term profit.  If you want to gamble trade commodities.
Reinstate Glass Steagal or a new version.  Don't let banks be in the mortgage business and trading business.
Raise the minimum wage and peg it to CPI, inflation, or some other sensible metric.
Create a new Federal works program with the goal to rebuild every single defunct federal road, bridge, dam, or other in America.  This will take decades.  If you grow the bottom and middle, the vast wealth at the top becomes less dangerous to the economy.


see, this is what I meant. you get a 'smart!' click
 
2013-09-17 09:01:37 AM  

Ricardo Klement: Bareefer Obonghit: OnlyM3: baufan2005
2013-09-17 08:13:00 AM


My company took away our bonuses, longevity checks, hell even our Christmas hams. They then cut all employees pay by 10%. The three main bosses just had a huge private parking deck built for only them. Then we constantly hear the line "Just be happy you have a job" I am not really complaining as much as I just wanted to show that Mr. Scrooge is indeed real.
Don't worry, you have hope and change.

A slogan to placate the dumbmasses, because actions are harrrrrd.
Under President George W. Bush (Jan. 2007), black unemployment was 7.9%{1}.
Under Obama it has risen to 13.4% (Oct. 2012).

Too bad Facts are bannable offenses on fark.

Yeah, you're right, the better the wealthy are doing the worse off the lower class is:

[upload.wikimedia.org image 800x588]

[www.pewresearch.org image 420x446]

Thanks for making the case.

There are also other factors involved in black unemployment, though I would leave it to an unemployment economist to discuss. I'm just a regular one.


Yeah, I just wanted to point out that any simple argument he can make using blanket statements like that can be argued against using the same useless methods.
 
2013-09-17 09:02:25 AM  
Many years ago a wise man said that you either have to eliminate poverty for the masses or eliminate democracy for the masses because in a properly democratic society where the majority is poor they would just vote to take the money from the rich.

As this has not happened and in fact seems completely improbable I will let you draw your own conclusion as to the level of democracy in the United States...
 
2013-09-17 09:02:39 AM  

Neighborhood Watch: You know, posting comments on Fark.com doesn't pay.

What's amazing is how many liberals will sit here and do it all day long... while complaining about how 'unfair' it is that they're broke.


/wasting time on Fark is DEFINITELY not a job that's been shipped overseas


Hey pot!  What's up kettle?  You're black!
 
2013-09-17 09:04:37 AM  

MithrandirBooga: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth


Well there's really 2 options. We can do it sanely through taxation as we transition to a post-work society as machines are replacing human labour every day...

Or we could have a violent and bloody revolution when the poor get squeezed so much they finally take all that ammo they've been hoarding and destroy every mansion they see.

Which would you prefer?


Give me you wallet all nice like or i will stab you and take it. Thugery at its finest... or as its know to tards "social justice"
 
2013-09-17 09:06:06 AM  
It's trickle up poverty.
 
2013-09-17 09:06:23 AM  

Lady J: Carn: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth

No, but reasonable actions can be taken to attempt to lower the gap in future earnings while at the same time adding funds to our still unbalanced budget.

Add a couple more higher tax brackets and raise income taxes on the wealthy.
Count capital gains as income over 100K and tax at same rate.
Get rid of the ceiling on earnings for paying social security.
Make sure estate taxes stay around or are reinstated.
Add a very small trading tax on the major US stock markets (.03%) to dampen high frequency trading and gambling for short term profit.  If you want to gamble trade commodities.
Reinstate Glass Steagal or a new version.  Don't let banks be in the mortgage business and trading business.
Raise the minimum wage and peg it to CPI, inflation, or some other sensible metric.
Create a new Federal works program with the goal to rebuild every single defunct federal road, bridge, dam, or other in America.  This will take decades.  If you grow the bottom and middle, the vast wealth at the top becomes less dangerous to the economy.

see, this is what I meant. you get a 'smart!' click


Also, DO put a hard limit on individual wealth gain. Peg it to the minimum wage to give them an incentive to increase that...

fark your american dream that lets a few people ruin the world for the rest of us.
 
2013-09-17 09:06:48 AM  

dready zim: Many years ago a wise man said that you either have to eliminate poverty for the masses or eliminate democracy for the masses because in a properly democratic society where the majority is poor they would just vote to take the money from the rich.

As this has not happened and in fact seems completely improbable I will let you draw your own conclusion as to the level of democracy in the United States...


Democratic republics, how do they work?
 
2013-09-17 09:08:50 AM  

Joe Blowme: MithrandirBooga: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth


Well there's really 2 options. We can do it sanely through taxation as we transition to a post-work society as machines are replacing human labour every day...

Or we could have a violent and bloody revolution when the poor get squeezed so much they finally take all that ammo they've been hoarding and destroy every mansion they see.

Which would you prefer?

Give me you wallet all nice like or i will stab you and take it. Thugery at its finest... or as its know to tards "social justice"


Just stop engineering the economic situation to screw over everyone except the very rich and we can start talking. That or we cut you until you tell us where the money is. Your choice.
 
2013-09-17 09:08:52 AM  

Lady J: Carn: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth

No, but reasonable actions can be taken to attempt to lower the gap in future earnings while at the same time adding funds to our still unbalanced budget.

Add a couple more higher tax brackets and raise income taxes on the wealthy.
Count capital gains as income over 100K and tax at same rate.
Get rid of the ceiling on earnings for paying social security.
Make sure estate taxes stay around or are reinstated.
Add a very small trading tax on the major US stock markets (.03%) to dampen high frequency trading and gambling for short term profit.  If you want to gamble trade commodities.
Reinstate Glass Steagal or a new version.  Don't let banks be in the mortgage business and trading business.
Raise the minimum wage and peg it to CPI, inflation, or some other sensible metric.
Create a new Federal works program with the goal to rebuild every single defunct federal road, bridge, dam, or other in America.  This will take decades.  If you grow the bottom and middle, the vast wealth at the top becomes less dangerous to the economy.

see, this is what I meant. you get a 'smart!' click


Well thank you
 
2013-09-17 09:09:04 AM  
At this point...


i40.tinypic.com
 
2013-09-17 09:09:31 AM  

Joe Blowme: dready zim: Many years ago a wise man said that you either have to eliminate poverty for the masses or eliminate democracy for the masses because in a properly democratic society where the majority is poor they would just vote to take the money from the rich.

As this has not happened and in fact seems completely improbable I will let you draw your own conclusion as to the level of democracy in the United States...

Democratic republics, how do they work?


Badly.
 
2013-09-17 09:09:35 AM  

Lady J: untaken_name: Lady J: what's to be done? you can't march into people's houses and take wealth

I wish I was so sheltered that I had never heard of "robbery" or "home invasion". That would be really nice.

what are these outlandish concepts? my empty little head is whirling!

don't be thick. robbery and home invasion are illegal, anything you get that way you're not going to be allowed to keep.

the adults are talking about sustainable change


So wordy! It seems you have forgotten about history and it's tendency to repeat itself.
 
2013-09-17 09:09:47 AM  

dready zim: Lady J: Carn: Lady J: regardless of libs vs cons; whatever (all boring)

what's to be done? you can't march into people's houses and take wealth

No, but reasonable actions can be taken to attempt to lower the gap in future earnings while at the same time adding funds to our still unbalanced budget.

Add a couple more higher tax brackets and raise income taxes on the wealthy.
Count capital gains as income over 100K and tax at same rate.
Get rid of the ceiling on earnings for paying social security.
Make sure estate taxes stay around or are reinstated.
Add a very small trading tax on the major US stock markets (.03%) to dampen high frequency trading and gambling for short term profit.  If you want to gamble trade commodities.
Reinstate Glass Steagal or a new version.  Don't let banks be in the mortgage business and trading business.
Raise the minimum wage and peg it to CPI, inflation, or some other sensible metric.
Create a new Federal works program with the goal to rebuild every single defunct federal road, bridge, dam, or other in America.  This will take decades.  If you grow the bottom and middle, the vast wealth at the top becomes less dangerous to the economy.

see, this is what I meant. you get a 'smart!' click

Also, DO put a hard limit on individual wealth gain. Peg it to the minimum wage to give them an incentive to increase that...

fark your american dream that lets a few people ruin the world for the rest of us.


Yes, by all means lets punnish success and see how that works
 
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