18 RICH PEOPLE
I would like the society in which I live to have a majority of rich people, not necessarily including me. I have tried but realize that I have not had, and do not have, the ability to be rich. My enjoyment was in doing, and starting something. There was always some new venture that appealed more than continuing one after the start up and it was usually before the money resulted. I have had business partners that were rich and that I helped to become richer. The rich people I have known were all likable and I never envied them their riches. They were the creators of wealth, they enjoyed the creation.
There are some who think that the income of the rich is their motivation for doing the work they do to earn it. This is very far from the truth. The creativity, the challenge, the recognition, the power, the competition are all better reasons. That is what keeps them at it long after they have more than they need for even the highest standard of living. We should be thankful that they continue to work, to increase the wealth of our society.
If many of a society are rich, the society is wealthy. With the rich to pay for the benefits they receive from being a member, everyone is better off. The infrastructure is better, there is more to help those in need. The wealth of a society is the combined wealth of all its members and the wealth that has been invested in the infrastructure. It takes wealth to produce wealth. It takes savings. The problem is that Governments have fostered the accumulation of wealth in a very small segment of the people. They have enabled, or encouraged, this to happen through policies that favour the few and restrict the majority. They had to do this to maintain wealth in our economy. They had to do this because they had a tax base that taxed production instead of consumption.
The rich have wealth, wealth is necessary to create production, production is necessary to create wealth. But work is also required to create production. What ever ones income is, it is what society is willing to pay for ones work and the use of ones wealth. That is their income. I do not have a problem with how much income they have, it represents the worth of what they produce for society. I have a problem with what they take out of our society, the wealth that our society no longer has to produce more wealth. The amount they consume or otherwise remove move out of our society is what should be taxed.
The problem created by government taxation and regulations is that the rich are able to dissipate the wealth they receive not only by their standard of living, (consumption), but by moving that wealth from our society. It would not be so bad if the tax was on all of the income, the wealth, that they consume. But they can consume income (wealth received) from capital gains, inheritance, and exemptions from taxation for depreciation, selected investments, etc on which no tax is paid. The vast majority of members of our society are unable to benefit from such schemes.