Tuesday, January 04, 2011

Lesson 25 from The Hard Knocks School of Life

If someone says he wants to punish the rich because they are greedy you should ask what that person has to gain in the transaction they propose. You also should ask yourself if the person proposing to punish the rich is actually greedy…
People who are earning high incomes are called rich by our current government yet they may or may not have actually accumulated much wealth. Conversely many people who have much wealth (either inherited or accumulated) often have low incomes (or at least low earned incomes) because they have most of their assets stored in government preferred investments whether they be municipal bonds or T-bills or some project the government wants accomplished.

High income earners are the achievers of society and punishing (or taxing them) is like making fun of nerds in school.

© 2011 Vic Jones

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