Redistrubution of Wealth by Merwin
My good friend Les said...
Let me get this straight. If we increase taxes on the ultra rich, they won't be able to create jobs for the rest of the country (notice I didn't say for me ;). I'll bite on that.
So, the richest 1% now own 40% of the wealth in the U.S. and the last administration lowered their taxes. When should we expect those jobs?
I am gonna throw my opinion into the mix a little, here is the way that it makes sense to me.
It is all about cash flow, if the affluent have the money to invest in projects that generate jobs, they are more likely to do so because of their abundance. They do so because they want their wealth to grow, and because by doing so the wealth that they have has another tax shelter. Also with good cash flow they are more likely to buy things for themselves that are fun for them, which may also create or keep jobs.
I do not begrudge the rich their blessed abundance, it is their desire to have more, that does create jobs.
Beyond that, I would remove or heavily modify, most of the government restrictions that are killing the small businesses. If we are really serious about redistributing wealth in this country let us begin there.
Just one example might be government sponsored workers compensation for small business employees. Have our government supply these types of “necessities” until any beginning small business reaches a certain level of success, and then incrementally pull away that sponsorship. This would allow that small business to grow to a level of strength to support their responsibilities. And this may be applied to most of the government’s positions that strangle the life out of attempts at wealth building and or the redistribution of wealth.
Yes I know, helping small businesses is not really “redistributing wealth”, but if someone wishes to “talk turkey” about the benefits of socially (forcibly) redistributing wealth, we have the former Soviet Union as a great model, talk about a tiny percentage of the Nation having all the wealth… the wealthy in that country never had to stand in line for toilet paper.