Finance and Economics > Economic News, the Global Economy and all Things Monetary

Wealth Tax?

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surfivor:

Liz Warren seems popular in our state. I don't get it but Boston is very liberal. She claimed to be native American and clearly was supporting Hilary in 2016. My sister gave my mother her biography or some such for Christmas a couple of years ago

iam4liberty:
I hear all this, you know, 'Well, this is class warfare, this is whatever.' No. There is nobody in this country who got rich on his own — nobody. You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police-forces and fire-forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory — and hire someone to protect against this — because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.

David in MN:

--- Quote from: iam4liberty on November 25, 2019, 05:45:54 PM ---I hear all this, you know, 'Well, this is class warfare, this is whatever.' No. There is nobody in this country who got rich on his own — nobody. You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police-forces and fire-forces that the rest of us paid for. You didn't have to worry that marauding bands would come and seize everything at your factory — and hire someone to protect against this — because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea. God bless — keep a big hunk of it. But part of the underlying social contract is, you take a hunk of that and pay forward for the next kid who comes along.

--- End quote ---

I love the people who think like this. The guy who "used the road" to carry backbreaking bricks to build his pizza  oven and open a business owes the guy watching football.

I ran track in high school. My best 800 was 2:08. That's a solid time if not super-competitive. Did the guys running 1:45 and going to state owe me money? They didn't build the track or their shoes and without me to beat how would they distinguish themselves?

Wanting what your neighbor has is covetousness. It makes me ill.

iam4liberty:
There are a lot of wealthy, successful Americans who agree with me – because they want to give something back. They know they didn't – look, if you've been successful, you didn't get there on your own. You didn't get there on your own. I'm always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something – there are a whole bunch of hardworking people out there.

If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges--if you've got a business, you didn't build that. Somebody else made that happen. The Internet didn't get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.

The point is, is that when we succeed, we succeed because of our individual initiative, but also because we do things together. There are some things, just like fighting fires, we don't do on our own. I mean, imagine if everybody had their own fire service. That would be a hard way to organize fighting fires.

Morning Sunshine:
"You didn't build that road - but you used it to build your successful business."

forgive me if my thoughts are a bit disjointed, but I want to get them out for discussion.

everyone who uses the roads pays for them, correct?  By the gallon in fuel tax (in theory, that is the purpose of fuel tax).  So if I only use the roads to get to my 9-5, I am paying for that much of the use of the roads.  But if I use the roads to bring in merchandise to stock my store, I am paying the shipping/trucking company to buy the gas, and pay the tax on the roads. Meaning, again, I pay for my use of the roads.  Why, if I have built up a business using the roads that I pay for, do I have to pay more for what anyone COULD do if they had the drive to do so?

The opportunity is there if you want to build a business.  The road is available for your use, you pay for your use of it.  If I want to work a 9-5, and not be responsible for the livelihood of other people, I can do that; and have off the normal holidays and be quite content with my life.
But if I have a vision of building something other people want, and I spend all my holidays working and taking family time when I can get, usually in a work-related area.  And I have taken on the responsibility of employing other people and providing for other families, why can I not decide how I want to spend the results of that sacrifice?  I have already paid for my use of the roads.  Why do I have to pay more for my -and my family's - sacrifices?

To me it is like my family giving up vacations and cruises and fancy expensive electronics and new cars that all the people around here spend money on, so that we can get out of debt.  Then have the people who spent money on all that complain that they will never be rich and the government should forgive their student loans and mortgages.   There are sacrifices to be made and a cost-benefit ratio that needs to be taken into account.

Last year, we made the conscious decision to take everything we had in our savings account - our rainy day fund, our 1-year of expenses saved - to do something for one son who needed intervention desperately.  We paid for him to go to the Anasazi Foundation  https://www.anasazi.org/ knowing that the insurance would probably NOT pay for it since he had not YET done anything that would be considered damaged.  I am supposed to wait until he gets into drugs or attempts suicide before he is considered "at risk."  I wasn't going to wait that long.  We weighed the options and decided that what else did we have the money for if not for the well-being of our children.  We could have paid off our house earlier, gone to Hawaii with ALL the kids, bought a new vehicle, but our choice was to help the one. Our cost-benefit analysis came off as it was better for this one to have the money than the family.


If you have built a business, and are successful, give back.  Absolutely.  But do it on your terms not someone else's.  I refuse to give money to the American Red Cross.  Does that mean I am a stingy b-- without a heart?  No.  I give in other ways to other organizations I like better, with better management of funds.  I definitely do not want to give my charitable contributions to the US .gov to give to those who need it; they have a worse track record than ARC.

And don't make me contribute to .gov at the point of a gun.  Cuz that takes you into the realm of slavery.
 



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