Register to leave a comment, or log in if you already have an account
I get it DH. I was just describing a little story about concepts of socialism. Said that it reminds me of the debates on here. Not trying to complicate and explain political injustices with a classroom example. Much to complex for that.
The truth is that if everyone had a high level of moral responsibility (if everyone was like MM and bxgrl), then socialism would work but unfortunately human nature is fucked up and there will always be people taking opportunity, even in pure socialism/communism (see Russia).
Agreed with Scott, mix of both work.
I actually think the reason this country is still a dominant country in the world is because we have such strong opinions from both sides (left and right) and we get to fight about it on blogs and have fuming political debates. When one side overtakes and there are no opposing opinions, that’s when I’ll start getting really scared.
That’s part of the reason why I don’t know if abolishment of unions is such a great thing for this country. See, Republicans already get BIG money from Citizens United and others while the BIG money coming to Democrats is pretty much from Unions. I think with both strong sides, we’ll continue to have a good country and good decisions will be made, even if they don’t always work out. I still have mixed feeling about Unions and all, just thinking out loud here.
Benson: The issue at hand is how effective our social safety net is, both in terms of its cost-effectiveness AND its effectiveness in improving the life of the poor.
Yes, Benson, THAT is the issue at hand. Very well put.
benson’s right on his issues with inheritance taxes. they are a disincentive to savings which, god knows, couldn’t be lower here and it is double taxation.
I think those arguing for higher inheritance taxes tend to be those without (and nutjobs like WB and denton) because, as we all know, those without want more from those with.
WB is a completely different animal. Once you get to those stratospheric levels of wealth like Gates, Jobs and Buffet, you lose all perception. Note how the wealthy Chinese in Hong Kong never fall victim to this illness!!!!
With the exception of a few odds and ends, like the post office and Amtrack, the US has no traces of socialism, as defined by Karl. It does not own the means of production.
What the US does have is a social safety net, which is a far different thing.
The issue at hand is how effective our social safety net is, both in terms of its cost-effectiveness AND its effectiveness in improving the life of the poor.
simply put,
the Buffet “no inheritance” idea
is for those who believe the government can spend
their money better than their children or their spouse or their significant others can.
Given what the government has done with the trillions already given it, I say it’s naive at best and corrupting at worst.
Money really does equal time,
and we all know that nobody wastes time like a well funded bureaucracy.
Actually, I have no comment whatsoever about inheritance taxes. My point was simply that I want my parents to do whatever they want to at this point in their life and be happy. I don’t want anything from them but to enjoy every minute and spend every dime.
I get it DH. I was just describing a little story about concepts of socialism. Said that it reminds me of the debates on here. Not trying to complicate and explain political injustices with a classroom example. Much to complex for that.
The truth is that if everyone had a high level of moral responsibility (if everyone was like MM and bxgrl), then socialism would work but unfortunately human nature is fucked up and there will always be people taking opportunity, even in pure socialism/communism (see Russia).
Agreed with Scott, mix of both work.
I actually think the reason this country is still a dominant country in the world is because we have such strong opinions from both sides (left and right) and we get to fight about it on blogs and have fuming political debates. When one side overtakes and there are no opposing opinions, that’s when I’ll start getting really scared.
That’s part of the reason why I don’t know if abolishment of unions is such a great thing for this country. See, Republicans already get BIG money from Citizens United and others while the BIG money coming to Democrats is pretty much from Unions. I think with both strong sides, we’ll continue to have a good country and good decisions will be made, even if they don’t always work out. I still have mixed feeling about Unions and all, just thinking out loud here.
“Do any of the following people owe their success and wealth to their inheritance:”
benson, that’s precisely my point (altho from the list, I know Bill Gates comes from a well off family. Don’t know about the others.)
Since large inheritances do not work in promoting merit, let’s do away with them.
Benson: The issue at hand is how effective our social safety net is, both in terms of its cost-effectiveness AND its effectiveness in improving the life of the poor.
Yes, Benson, THAT is the issue at hand. Very well put.
benson’s right on his issues with inheritance taxes. they are a disincentive to savings which, god knows, couldn’t be lower here and it is double taxation.
I think those arguing for higher inheritance taxes tend to be those without (and nutjobs like WB and denton) because, as we all know, those without want more from those with.
WB is a completely different animal. Once you get to those stratospheric levels of wealth like Gates, Jobs and Buffet, you lose all perception. Note how the wealthy Chinese in Hong Kong never fall victim to this illness!!!!
With the exception of a few odds and ends, like the post office and Amtrack, the US has no traces of socialism, as defined by Karl. It does not own the means of production.
What the US does have is a social safety net, which is a far different thing.
The issue at hand is how effective our social safety net is, both in terms of its cost-effectiveness AND its effectiveness in improving the life of the poor.
hey dibs et al, what are you guys doing with banks?
Now that C and BAC are not going to be paying dividends for quite some time, I’m looking elsewhere.
Already have JPM, WFC, NYB, AXP.
I recently took a position in RY. Seems super well managed and 3.5% yield at my entry. Looking for yield as well as CA.
simply put,
the Buffet “no inheritance” idea
is for those who believe the government can spend
their money better than their children or their spouse or their significant others can.
Given what the government has done with the trillions already given it, I say it’s naive at best and corrupting at worst.
Money really does equal time,
and we all know that nobody wastes time like a well funded bureaucracy.
Question:
Do any of the following people owe their success and wealth to their inheritance:
Bill Gates, Michael Bloomberg, Oprah Winfey, Steve Jobs, Marc Zuckerberg (sp?) or Jack Welch, just to name a few.
Benson, I am not mixing fruits.
Actually, I have no comment whatsoever about inheritance taxes. My point was simply that I want my parents to do whatever they want to at this point in their life and be happy. I don’t want anything from them but to enjoy every minute and spend every dime.