Real_Trouble -> RE: The sting of poverty (4/15/2008 6:37:58 AM)
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I can not agree with you here.... Personaly I think the bloody death tax should be abolished. The money they owed the govt on the death of the realtive was staggering. These folks were Farmers and ranchers.. I used to muck out thier stalls as a teen ager. They had to sell every last bit of thier farm, and land to pay the govt the death tax. The IRS got involved and hit them for everything. by the time the govt was done they had no money for thier children, or them selves.. and couldnt hardly afford to live in the same town. A large developer raped them on the price.. then developed these $500,000+ a pop homes on thier land. ( The land I knew like the back of my hand from horse back ) it made me sick. They got screwed here because of the illiquidity of their assets, not because of the death tax. I do concur the current death tax is poor with regard to farming estates, and could be fixed. The situation I am concerned with is something like the daughter of a famous sportsman inherting 350 million dollars when all she has ever done is party. Why does she deserve that money? I'm not against allowing people to keep something, but if you have to pay a 100% tax and are left penniless, something is wrong; however, I suspect the economic handling of the situation by these people was quite poor, as I've dealt with many, many estate tax cases, and I've seen people have to pay a lot or sell business, but I've never seen anyone wiped out and left with zero. quote:
If your family has worked and earned thier money they should keep it. So sorry your family didnt have the planning. Make your start.. First, I'll ignore the childish attack, given that you know absolutely nothing about my family, but I'll say this: Watch where you step on things where you are not in the know. You might end up looking pretty stupid if the truth ever comes out. Second, why should their kids get it? Do we pick our Olympic teams by taking the kids of the winners twenty or thirty years ago? Should our government always be the children of current representatives and senators? Should your job get passed to your kid, always? Dynastic behavior leads to incredibly inefficient systems in the end, and should never be encouraged. I'm not for leaving kids destitute (cap inheritance at, say, $2 mil or some number and index it to inflation), but you shouldn't be passing half a billion to some drooling retard, either. That fucks our economy in the long run, and everyone loses. quote:
My ideas would mean, no one would need to bust their ass, if they did not choose to; everyone would be able to prosper; therefore, no need to be rich. No rich; no poor. Two questions: First, how do you intend to accomplish this given scarcity of resources? There is not an infinite store of everything to simply hand out to everyone; if we have 20 people and only enough food for 15 of them, no amount of hope or guidance is going to magically create more food. The simple fact is that we compete for resources; until you find a way to produce infinite resources, this will always be true. Also, if everyone has the same amount, why should I ever work? Shouldn't I just do whatever I want and know I'll be looked out for regardless? Second, human nature conspires entirely against you. Yes, some people submit by choice, but there are many nations where people are given the choice of submitting or being shot in the head after being tortured. I am not exaggerating in the slightest; have a look at Myanmar, for instance, to see what I'm talking about. This is the kind of government you end up with when you put something together based on hope and idealism. There will always be power-hungry and dangerous humans willing to end your life if you do not bow down to them. This must be accounted for somehow, and hoping to guide and mentor them isn't going to do jack shit. How would you solve that? I see you also say you haven't worked out the details - that is because the details cannot be worked out. The painting example previously (nice example, by the way) lays this out nicely. You are trying to create a system that alters reality; this can't be worked out. If you really want to refine your theories, you need to start learning some economics. quote:
Hereditary wealth is not only supported by capitalist governments but aided and abetted by them too, I suspect that most wealth held by the rich is inherited. Compared to...? We do the best job of taking away dynastic wealth, or are you seriously going to argue that feudal governments, despotisms, or the rigged constructs that try to pass as communist regimes have done a better job of redistributing wealth? On the whole, the US does the best at breaking this up (minus a few european countries), and see my comments above for more. quote:
The point is that people can earn fortunes because they are allowed to earn fortunes by society so they owe society something in return. As for your fascistic proffessor who sounds as if he bought his creditation rather than studied for it, on the whole rocket scientists don't get rich, pop stars, sportsmen and morally corrupt businessmen and politicians tend to get rich. Wealth has nothing to do with anyone's contribution to society or the human race as a whole. Derman. Black. Scholes. Merton. Taleb. Gates. Allen. I'll stop, but I could go on. There are plenty of very smart individuals, many of whom have quantitative PhDs, who have made a ton of money for themselves. There are others, who through the social recognition they received and the status they held, have led incredibly wealthy lives because people paid for the privilege of having them come to talks, travel, research, and the like (Feynman, Pauli, Pais, etc). You are wrong about this; rocket scientists can and do get rich. But likewise, if society is willing to pay for pop stars, sportsmen, etc, why should they not get their money? Nobody makes someone pay for a basketball ticket or CD. Nobody holds a gun to someone's head at the checkout counter. If you don't like it, don't buy it.
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