Forum Post: Encourage growth and limit wealth
Posted 12 years ago on Oct. 15, 2011, 4:36 p.m. EST by fritz
(2)
This content is user submitted and not an official statement
What we need to do is limit wealth in general. The capitalist system in general can still stay as a motivator for achievement and innovation. Even if we limited wealth to 100 million per person with the government reallocating any wealth above and beyond that the societal ramifications would be huge. The wealthy would be audited yearly and those that have more wealth than the maximum would have to donate to a cause of their choice or have it turned over to the government. The prestige to the wealthy would mean that they could still influence the world system but in a positive directed way. The cap would then increase the prestige of the wealthy while increasing the benefits to the society as a whole. Those not as wealth could continue to strive to better themselves and the system would not encourage idleness as socialist systems seem to do. Those hiding wealth off shore or in whatever means would see their assets managed by the government and their maximum wealth reduced by a fact of 10. Encourage growth and limit wealth
That at least is a better comment then socialist hogwash
Wealth cap .... Dude are u on drugs?
No limit, no hard cap. The problem is that the wealthy are paying less in taxes now than at any point in the last 100 years. They simply need to pay their share -- if they quit dodging taxes so much, they can have as much as they want.
See as soon as someone mentions something as a suggestion those not agreeing can say it is socialist and then all conversations stop. "It is socialist" should not be a means of shutting down a discussion.
You could still be a multi millionare. Inovation and achievement would not stop at all. It would continue because of the goal of becoming successful finacially would still be there. Should you be able to have a 100 million dollar car? No sorry but that is just the wealth in excess that is the problem in the first place. That is the issue is all about. What do you get instead after the 100 million? Prestige you can say hey I just gave 500 million to cancer reseach and because of me it is cured. Everyone would celebrate your name and not just see some fat rich guy with a nice car
somehow this reads like a description the "pull out" method my 8th grade health teacher told me wouldn't work to prevent pregnancy..... How do you tell people who are driven by income to only be "so" driven by income? If innovation isn't created out of altruistic means it won't magically become such at a price of no more than 300,000 per year.....
Quote:
No. Most of the people who want to see the rich deprived of their money, don't understand a few basic things:
most of the supposed wealth is actually in the form of stocks or other securities - that is, money already invested in bunsinesses that created jobs and make the economy work
if competent, visionary and risk-taking people are prevented from doing what they love most - that is, creating products and services and earning as much money as possible, then they would no longer be involved in these companies and everything will fall apart, slowly transforming the capitalistic economy into a soviet style economy
the cumulated wealth of the rich people is in actual reality very little, and can be taken away ONLY ONCE!
maximum income equal to ten times minimum wages, or about $300,000
So what do you suggest I do once I make $300K for the year. Just not go to work anymore until the New Year?
If you hate your work, yeah, spend some time with your family.
There should be no other taxes though.
Pure socialist hogwash!
I want to be a gigabillionaire, and with your ideas what incentive would I have?
I suggest a move to Communist China would help you realize your dreams!
You will never be any billionaire. You'll never even make a hundred million fritz suggests. I doubt you are making $300,000 that I'm suggesting. Stop bullshitting yourself.
Great points, and here's a plan:
Here's how we can easily Reform Wall Street: Take away their powers "once again." And a Million People March on The Hill will help a lot!
For example, "We are here Congress because we want to bring REINSTATE the Glass-Steagall Act of 1933 http://www.investopedia.com/articles/03/071603.asp#axzz1aPEc3wX which help saved our country from the Great Depression by preventing investment companies, banks, and insurance companies from merging and becoming large brokerage firms; instead of just being Banks and Insurance companies--why can't we learn a history lesson here Congress? Btw, why did most of you vote for its repeal in 1999? http://www.counterpunch.org/2008/09/19/shattering-the-glass-steagall-act
Think about where we are now, it all started in 1999 with the subprime loans Senator Phil Gramm was peaching on Senate floor. http://www.youtube.com/watch?v=gKQOxr2wBZQ&feature=related
Furthermore, we also want you to CHANGE the Commodities Future Modernization Act of 2000 http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000 BACK to where it was before 2000, which since has deregulated energy markets and consequently allowed for such scams as The Enron Loophole; whereas in the early 2000's Enron Corp. was charging 400 bucks plus for a kilowatt hour...They all when to jail for this. But, the Enron loophole is still not closed, for example, allowing speculators to resell barrels of oil over and over again before it reaches the gas station owner. It's basically, legal gambling at our expense. What were those lawmakers thinking then? What are you thinking now? Either do the right think, or you're part of the 1%."
Why are oil prices high? The Enron Loophole
http://www.youtube.com/watch?v=zbdtTGYQBMU&feature=related
http://www.youtube.com/watch?v=PNp0y0SjOkY&feature=related
Rolling Stones Reporter: Truth about Goldman Sachs--how they have cornered the markets--basically, The Enron Loophole and the Repeal of Glass-Steagall Act in 1999. http://www.youtube.com/watch?v=waL5UxScgUw
Let's get focused and bring back Glass-Steagall Act of 1933, they got it right 1933, we don't need to REINVENT the wheel because bringing this Act back will create an even playing field once again....and let's finally Close the Enron Loophole, which allowed Enron to charge w