Because generally speaking, people are emotionally driven, short-term thinkers, not the long-term visionary rationalists the economic 'experts' propose.
As I had posted in your 'growing wealth gap' thread: it's as if, just as humans long ago began shaping the natural environment to their benefit, but to the detriment of other species, so it seems that the "financial elite" are thus shaping the financial environment, and to the detriment of those who don't worship the Almighty Dollar, those who think freedom can be used for other pursuits.
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Seems the rich need to stop hoarding the money so much. I'm not saying that we just take it from them, but if they spent more on goods and services that would get more money flowing back in to the economy, right?
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Well good news, if the Republicans get their austerity plus tax cuts proposals in, it'll be winner take all and never give back! They want to get rid of the already low taxes on capital gains meaning that the 23,000 richest people in America will no longer pay any taxes on income at all and with the repeal of the inheritance tax, all that money will stay in the family. Add to this the much abused tax exemption on wild life preserves that allows many rich people to not pay any property taxes because they have an indigenous animal or two grazing on the edge of their fence and you get something that the founders totally intended and would be great for america- a monied, politically powerful network of wealthy families that control everything.
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IF, and only if, those who possessed the largest amount of capital really did reinvest it back into the economy and society at large, the way capitalism assumes they would, it could in fact be the best system for any nation.
that isn't the case, however
[I guess it would also need some very strong regulatory body that kept the state and the economy separate]
At least he doesn't hoard the money. It can't be denied that he donates a hell of a lot of money and surely spends plenty too. Neither he nor people like him are the ones responsible for this nasty distribution of wealth. It's the people who get billions of dollars and then just keep it within their families for as long as possible.
__________________ Hey papi, Hey ese, Hey whiteboy,
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I got everything!
However, many believe he never respected the intellectual rights of others. I don't have enough information to make a decision on what he is: Altruistic hero or man who created a behemoth bully/crooked company and is feted as some genius who should be allowed to develop education, food and disease eradication policies.
Microsoft has a history in recent years of eliminating many of their middle and lower level people who once had very good paying jobs and subcontracting them to outside firms which pay far less.
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Hang on, you said in response to Bill Gates is an example of someone who possesses a relatively high percentage of America's capital and reinvests it in to the economy and society at large. Whether he's a crook or not doesn't really have any relevance to the topic of this thread.
__________________ Hey papi, Hey ese, Hey whiteboy,
Tell me what you need!
What's good? Talk to me. Work with me, man!
I got everything!
KMC Community Forums
Jun 16th, 2011 10:43 PM
