I'm sure the politicians will think that income caps will be a FANTASTIC idea...they'll probably be all over this.
frostedflakes
Diamond Member
- Mar 1, 2005
- 7,925
- 1
- 81
Bill and Melinda Gates have contributed billions to charities, billions that they wouldn't have if wealth was capped at a mere $10 million. Most rich people do some pretty cool stuff with their wealth, because like you said, what else are you going to do with that much money? Might as well give some of it away, you could never spend it all and it's good PR.
Yeah we discussed that once before, it's a nice idea but people aren't going to just put up with that and let it happen-- they'd simply move all their money elsewhere.
Net result would be a removal of all wealth from a country. There would be no more capital, no more investors to fund new technologies and innovations.
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,360
- 126
I think the OP and others who have this mindset underestimate the power of people leaving. In 2008 there were several articles including this Forbes blog talking about wealth leaving Cali because of taxes. If we cap wealth, we cap resources, tax revenue, and people will simply leave.
It's remarkble to watch ignorant people show their ignorance with such statements showing they don't understand the topic. No one is saying give everyone $1 million - TERRIBLE idea.
This is well illustrated in WOW in a quest where you have to go into a minefield to retrieve a tool box. The mines blow you all over the map. You have to blow yourself into the middle of the mine field to succeed and it can be done with random luck or cunning, by seeing the bias each mine has, to blow you back from the direction you came. People are like those mines, the explode when they hear trigger words, like communist or welfare or government controlled. Those triggers cause certain tapes to play and the direction one is blown is always off topic.
Kaido
Elite Member & Kitchen Overlord
- Feb 14, 2004
- 52,355
- 7,616
- 136
It all boils down to incentives.
Remove the incentives, you remove the innovation. Personal drive and greed are powerful motivators, and the reason why the United States is #1 in so many ways is that we have an utterly free system - you are free to choose to be as rich or as poor as you want. No one is stopping you either way - only your own personal limitations about what you believe you can and cannot do. No one is holding a gun to your head to work at McDonalds, and likewise no one is holding a gun to your head to get an education and work as a CEO earning millions of dollars a year. If we took away the incentive to pursue anything you want (in this case unlimited finances), I think that would kill a lot of the motivation that people have to pursue their dreams - why bother, right? On the flip side, the rich would still find a way to workaround it, because they have the money to hire crafty people to find loopholes and the drive to pursue it. I don't think we have a perfect system, but compared to the rest of the world, it's pretty dang good!
Also as was mentioned, the richer people are, the more opportunity they have to be a benefit to their community, their employees, and to the world in general. They provide jobs and they donate to charity. I live in Connecticut and I have a lot of friends who are super wealthy, and I don't know a single one of them who DOESN'T give generously to their church or favorite charity. Not ONE. I think we all grew up with the illusion of Robin Hood robbing from the rich and giving to the poor, and that all rich people are greedy, but personally I haven't found that to be the case - every single millionaire I know donates, period. That may not be the case for all of them, but for all those who I've personally met, they all believe in giving back. So, bottom line - I like the idea of unlimited finances because it provides a lot of opportunity to do good in the world. You can say that the workers for the millionaires suffer from low wages or what have you, but again - we live in a free country and you can always change jobs to find something better if you don't like where you're at now. Freedom is kind of at the core of this issue, along with incentives.
Remove the incentives, you remove the innovation. Personal drive and greed are powerful motivators, and the reason why the United States is #1 in so many ways is that we have an utterly free system - you are free to choose to be as rich or as poor as you want. No one is stopping you either way - only your own personal limitations about what you believe you can and cannot do. No one is holding a gun to your head to work at McDonalds, and likewise no one is holding a gun to your head to get an education and work as a CEO earning millions of dollars a year. If we took away the incentive to pursue anything you want (in this case unlimited finances), I think that would kill a lot of the motivation that people have to pursue their dreams - why bother, right? On the flip side, the rich would still find a way to workaround it, because they have the money to hire crafty people to find loopholes and the drive to pursue it. I don't think we have a perfect system, but compared to the rest of the world, it's pretty dang good!
Also as was mentioned, the richer people are, the more opportunity they have to be a benefit to their community, their employees, and to the world in general. They provide jobs and they donate to charity. I live in Connecticut and I have a lot of friends who are super wealthy, and I don't know a single one of them who DOESN'T give generously to their church or favorite charity. Not ONE. I think we all grew up with the illusion of Robin Hood robbing from the rich and giving to the poor, and that all rich people are greedy, but personally I haven't found that to be the case - every single millionaire I know donates, period. That may not be the case for all of them, but for all those who I've personally met, they all believe in giving back. So, bottom line - I like the idea of unlimited finances because it provides a lot of opportunity to do good in the world. You can say that the workers for the millionaires suffer from low wages or what have you, but again - we live in a free country and you can always change jobs to find something better if you don't like where you're at now. Freedom is kind of at the core of this issue, along with incentives.
Heh, the last time I checked, US is still a free society. Seems like the communists of this forum is trying to change that.
Who has the right to tell people making 10m+ to give away their earning? People like Kobe, Lebron, who has the ability to make billions for their franchise, sponsors, who the f' give the government the right to take away their right to get their fair share?
See this is how whole dictatorship started in all the communist countries. Small group of people think they have the answer to everything in the world, and force their view upon others. In the end, those people are nothing but ugly human beings, and what started as something altruistic eventually turned into special interests for those small group of people.
Who has the right to tell people making 10m+ to give away their earning? People like Kobe, Lebron, who has the ability to make billions for their franchise, sponsors, who the f' give the government the right to take away their right to get their fair share?
See this is how whole dictatorship started in all the communist countries. Small group of people think they have the answer to everything in the world, and force their view upon others. In the end, those people are nothing but ugly human beings, and what started as something altruistic eventually turned into special interests for those small group of people.
"It all boils down to incentives."
Sure it does. What ancient Greek was it that said that if this kind of thinking is true then ultimate happiness is scratching an itch that won't stop itching.
Our society isn't built on incentives, but the inculcation of endless needs and endless seeking, rats on a tread mill. Enjoy!
Sure it does. What ancient Greek was it that said that if this kind of thinking is true then ultimate happiness is scratching an itch that won't stop itching.
Our society isn't built on incentives, but the inculcation of endless needs and endless seeking, rats on a tread mill. Enjoy!
K1052
Elite Member
- Aug 21, 2003
- 53,794
- 48,495
- 136
Originally posted by: yllus
Sure, go for it, guys. We here in Canada will gladly welcome and grant citizenship to the flocks of millionaires leaving your country for ours as a result of this idiocy.
To hell with that, if I'm fleeing the old US of A I at least want a warm climate. I'll be headed to Costa Rica thanks.
Nobody can truly enjoy themselves when other people are suffering. Also, in a world designed by treadmill runners by and for them, everybody has to run them to some extent. All I did is say what I see. I didn't come up on you running your treadmill with a gun in my hand and say, get off that stupid, you aren't enjoying yourself enough, go smell some roses. I think you just react to me because it pisses you off at how right I am. There is always this temptation to shoot the messenger.
CrackRabbit
Lifer
- Mar 30, 2001
- 16,642
- 62
- 91
1) this limit is unenforceable
2) the people that are affected by this limit will just transfer their assets offshore and to hard assets (gold bars)
3) this is a very retarded idea
2) the people that are affected by this limit will just transfer their assets offshore and to hard assets (gold bars)
3) this is a very retarded idea
This is a terrible idea. Once 10 million in wealth is generated they will leave to another country that allows for more accumulated wealth. We will have a brain drain much like Citi-group is having after the govt scrapped bonus's for producing bankers.
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