Neeum Zawan <m.n### [at] ieeeorg> wrote:
>         It's a question of rates. In the US, the percentage of the overall 
> wealth owned by the top 1% keeps increasing (depending on who you ask - 
> I'm seeing some contradictory figures). That's a net flow in that 
> direction.

  Is that a bad thing? I'm asking that seriously.

  Many people don't like rich people being so rich, and usually their main
motivation for thinking like this is, let's say it frankly, jealousy. They
do not have any *rational* argument.

  Ok, so some people are filthy rich. Does that make your life more
miserable economically? If that 1% of rich people were less rich, would
your life be wealthier by any significant amount? Would it change anything
in your life? Personally I don't really think so.

  A bit of balance between rich and poor can be achieved with progressive
taxing (ie. tax rich people with a higher percentage than poor people),
but that's a dangerous path to follow too far. If you punish rich people
too much with heavy taxes, the economy of your country may suffer. On the
other hand, if people are rewarded for succeeding (in the form of allowing
them to become filthy rich), that may actually improve the country's economy.
People who know how to make money circulate will want to succeed in that
country. If the country imposes heavy penalties on them in the form of taxes,
they may well move to another country and improve that country's economy.

  Is there any rational reason to punish rich people with heavy taxes,
other than jealousy and a generic sentiment of "fairness"?

  (And no, I am not rich. I am currently in a part-time job and I earn
barely enough to cover my living expenses. Yet, I do not have any problem
with some people being filthy rich. They don't harm me, and I have no
reason to be jealous of them. In fact, they may be doing good to me,
indirectly, by keeping the economy running, which means that I have a job.)

-- 
                                                          - Warp

Post a reply to this message