Wealth does not mean money. It's the value of everything you own including property, investments, even intangible things like trademarks or brand names or goodwill.
So as unfair as anyone might think it is, it begs the question: how do you redistribute it? You can't wave a wand and convert it to cash that didn't exist before (well a government could, but inflation would skyrocket). Do we start doling out 1/200000th ownership in a villa overseas or the microsoft brand name (might increase a person's wealth, but they can't buy groceries with it)? Do we re-write capital gains laws so high taxes are paid any time property (including stocks) appreciates in value instead of when they sell it (even if they don't have cash to pay that bill)?
I mean, I'm open to suggestions grounded in reality and that don't assume these guys have Scrooge McDuck's money bin of liquid assets.
Schooled him.
who did he school? you can't be talking about me because i agreed with that post you just quoted. but, hey, thanks for bumping a topic where you make yourself look like a fool.
Coming from the guy who posted another "I hate rich people" topic and is getting educated by people who actually understand how wealth works.
again, I passed no judgements in this topic. i presented facts. please point out where i indicated that i hate rich people ITT. i do admit that i did learn something in lightwarrior's most recent post about transfer of ownership vs liquidation, however.
please keep posting though because it really tickles me when you make yourself look foolish. ---
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