Originally Posted by
fruitcake
You are correct that debt (or maybe a lack thereof) is another important variable to consider when trying to calculate a man's wealth right alongside with income and net worth.
However the point of my argument is NOT an attempt at creating a grand unifying theorem to explain wealth and taxation (I'll need more than 1 paragraph to properly explain that.
)
I'm just demonstrating the absurd things that Liberals do sometimes.
--- Liberals keep on making a
stupid attempt to tax the rich.
--- While the rich find
clever ways to evade these taxes with financial wizardry.
Again the story of Steve Jobs aka the $1 man demonstrates this clearly.
Let's take a good look at the economic policies as practiced by the true controllers of economic policy -- shareholders, corporate boards, and business executives. They chose to create economic insecurity for all but themselves and a few small groups that they can't really control -- entertainers, big landowners, professionals, successful business owners, and government employees. Corporate America chose to enforce a so-called "wage fund" that holds that only so much money can be paid as wages, and that Big Business can constrict the fund at will. Such is possible when unions are emasculated, the government is weak or bought off, and media (guess who owns them? Right -- the corporate media are owned by advertisers, for all practical purposes) are pliant or corrupt. Such is especially true in the degenerate time of the latter decade or so of a 3T. You know how it is -- challenge corporate power, and advertisers disappear. Also note that business becomes cartels. Oh, do people get burned with deflated wages and inflated prices. The executives? They are paid well enough that they can find the means of closing off their consciences. Hint: mobsters generally earn much more than the usual working stiff.
Manufacturing corporations choose to become importers and insist upon "free trade" as a means of ensuring that the only real cost of importing is transportation. Tariffs plummet. Workers in corporations that transform themselves from manufacturers to importers are cast off as easily as I dispose of junk mail. Unions are destroyed as employers make workers "an offer that they can't refuse" -- decertify the union, take a paycut, and you might get to keep your job.
Government offers tax cuts targeted at the rich paid for by reductions in public services. Meanwhile competition for existing jobs intensifies, and university educations become increasingly expensive even as real incomes fall. But to avoid the certainty of spending the rest of one's miserable life as a retail clerk, domestic servant, a smart kid from the middle class needs to get an increasingly-expensive college degree just to avoid falling into the class of the working poor. That takes credit, and the Federal Reserve of course opens the floodgate of the money supply. Of course some lender gets to make a neat profit off that in the form of interest -- and pliable stooges in Congress enact laws that prohibit people from defaulting on student loans in the event that something goes terribly wrong.
Add this: that the reactionary government can't quite afford to create the image that the rich are getting richer and the poor are getting much poorer, so it promotes a speculative boom in real estate and heavy borrowing by consumers so that they can feel as if they are still middle-class even if their real pay says otherwise. Welcome, subprime lending!
Yes, I know, things would be less damaging, at least fiscally, if Americans accepted that they had the obligation to allow themselves to work maximal hours for pay that just barely allows physical survival -- ideally after giving all that they have to the exploiter classes and then working to exhaustion. People would go poor, and maybe they would show gratitude to their exploiters for not starving them.
To make a long and bad story short, consider the consequences of a social order that most people think grossly exploitative and beyond any possibility of reform. It should be clear to anyone that the closer that a capitalist society fits the Marxist stereotype of a vile social order so horrible that anything could be better, the more likely it is to have a socialist revolution at some crisis -- a financial panic among the elite, a nationwide disaster, or a military debacle. Such a revolution, if successful, results in the elimination of those seen culpable of creating widespread misery.
The people first to the wall will be the people you lionize. Then come their stooges in government, clergy, and media. You will be in that group.
Last edited by pbrower2a; 09-11-2009 at 02:23 AM.
The greatest evil is not now done in those sordid "dens of crime" (or) even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered... in clean, carpeted, warmed and well-lighted offices, by (those) who do not need to raise their voices. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern."
― C.S. Lewis, The Screwtape Letters