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The only thing the government should be doing is enticing rich people into giving their money away via tax breaks for charitable giving. Beyond that it is absolutely no one's business (and especially not Barney Frank's) what they do with that money once they have earned it and it has been taxed. If they want to pass it on to their kids then that is their business.
I can actually speak from experience as my in-laws are loaded. They give us a gift once a year and they gave us a low interest loan on our home that we don't have to pay back. They do not believe in handing huge sums of money to their kids and they give a lot of it away.
Contrary to what the poor libs on the board think, most rich people give a lot of money to charity.
Face it Neuling. Every one of your ideals and principles that you have stated here in this forum on any post that you dive into, shows that you are a Marxist and prefer that type of society where mediocre is the highest honors to achieve. If you were a successful person, you would NOT have these views, one could only conclude that you are having a tough time in life and want things to be easier for you. I think I remember reading a post of yours where you are proud to only work 2 days a week.
Quite to the contrary, I have a pleasant life and don't want anything from anyone. Yes, I work two days a week, because I am modest and the income from that amount of work is enough for me. This means I leave more work for other freelancers who might be struggling.
I take pride in my work and have won prizes for it. So don't give me that mediocre BS. Like it or not, some people don't need money as an incentive...
Yes, kids in poor families are worse off than kids in wealthy families. While you see that as a somehow bad thing, unfair and needing change, I see it as the way things SHOULD be. It's called incentive. Parents try to provide for their kids, and those that are successful are able to provide more than those who are not. And if they are successful enough to provide really really well for their kids, and even for their grandkids, how is that a bad thing? Even if those kids are morons who don't work a day in their lives to "deserve" that money, at least they are living off their family's money, and not being a drain on society.
My view of money is naive? OK. So tell me then, since yours is so much more educated and thoughtful a perspective, where do all those millions of dollars go when they are "withdrawn from society"? You think there are millionaires with hordes of cash stored in their basement? That they became rich by stashing bills in their mattresses? Or is it more likely they put their money to work, investing in various financial instruments and buying hard assets? Tell us how they "witdraw if from society."
Excellent post Bill. I'll take it one step further: The top 2% of the richest Americans constitute almost 35% of all spending in the country. That is what is called supporting an economy.
The only thing the government should be doing is enticing rich people into giving their money away via tax breaks for charitable giving. Beyond that it is absolutely no one's business (and especially not Barney Frank's) what they do with that money once they have earned it and it has been taxed. If they want to pass it on to their kids then that is their business.
I can actually speak from experience as my in-laws are loaded. They give us a gift once a year and they gave us a low interest loan on our home that we don't have to pay back. They do not believe in handing huge sums of money to their kids and they give a lot of it away.
Contrary to what the poor libs on the board think, most rich people give a lot of money to charity.
So a rich person bought you a house? Sounds like commerce to me.
Someone's labor was rewarded with the purchase of that home, you now pay more in property taxes, a win-win for America.
This only results in many wealthy people hiding thier income in numbered Swiss bank accounts or offshore in the Caman's. The trick is to get your wealth into a place where the sticky hands of the government can't find it but let you heirs know where the wealth is hidden so they can use it as they see fit.
This type of greedy taxation only breeds contempt for politicians, and governemnt in general, and creates a class of people who invent and seek ways to hide their wealth from the government.
You don't like private property, and you engage in class warfare. How about neo-Marxism then, or some mix of various other socialist and communist philosophy, call it what you like.
I don't mind private property, I have some limited amount of it myself. The key here is limited, I am against large amounts of private property concentrated in the hands of relatively few people.
Excellent post Bill. I'll take it one step further: The top 2% of the richest Americans constitute almost 35% of all spending in the country. That is what is called supporting an economy.
...and if it was up to our Marxist friends, they would confiscate all the wealth of the top 2% and say goodbye to that 35% of the economy, and say hello to a stagnant population subsisting off the good gracious of the government; a true liberal Nirvana.
So a rich person bought you a house? Sounds like commerce to me.
Someone's labor was rewarded with the purchase of that home, you now pay more in property taxes, a win-win for America.
BINGO! Wapasha got BINGO.
Actually they own 2/3 of the house and we mortgaged the rest. We have to pay the interest on that "loan" through a deduction on the annual gift. I think it would surprise some of the commies on the board to know that we both work full time.
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