General Discussion
In reply to the discussion: Finally: List of 80 People With as Much Money as 1/2 of Humanity [View all]JDPriestly
(57,936 posts)create greater wealth for all.
For example, if the children of the poorest of the poor in American could walk away from college with the same education debt as the son or daughter of one of the people on that list, we would have made some progress. The child of the poorest of the poor might be able to save some of the money he/she made after graduation and, who knows, start a family or a business.
So it isn't a matter of stealing from the rich. It is a matter of ensuring opportunity for all and using money that may now be filling the pockets of the already rich to rebuild our commons, fund free tuition at our state colleges and universities for qualified students, for example. That would make life better for all concerned. Who knows what great ideas are never explored and never become reality because the person blessed with the ideas is saddled with student loans and other barriers to his developing his/her ideas?
Other countries, European countries, provide more equal opportunity than we do. They tax wealth and distribute it. They don't steal. They invest that wealth.
Who said that a person should be able to pocket all the money earned, say, from oil and gas leases? Alaska, for example, charges high taxes on companies that exploit the oil in its state. All states should do that. And with the money, they should fund free college tuition for their students.
Why do the Kochs get more money than say, a classroom teacher? Because they grab more money. That's why.
It isn't because they are smarter or work harder. They inherited some wealth. They were smart enough and worked hard enough to increase that wealth. But they did not work hard enough and were not smart enough to justify the extent to which their wealth exceeds that of many other people. No one is that smart or works that hard.
No one. I used to work 60-70 hours a week at times. I remember pulling a 72-hour shift believe it or not. Did that make me as wealthy as the Kochs? No. It's not how hard you work that makes you wealthy. It's how hard you grab money that makes you wealthy. It's how little you pay your employees, how willing you are to exploit others that puts you in the category of wealth that those 80 people are in.
Wealth can be a good thing, but when you get into the wealth bracket those 80 are in, your money should be subject to high tax rates and no loopholes.