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Monday, 16 July 2007

Should there be a cap on how much money an american can earn before it gets distributed? -

Say an american reaches a net worth of 20 million dollars. This should be the cap right? any money exceeding that should be redistributed to prevent a monopoly on the US economy. Isn t this a good way to ensure equality and a stable economy? jobs couldn t be outsourced over seas because they couldn t earn more than 20 million anyway. Good idea or not?|::::|Why $20 million? Some people think $20,000 is a lot. Who s to decide? Redistribution of wealth is socialism by any other name. And THAT is what actually what keeps people poor. Incentives for, and reward of, productivity bring prosperity to those of all economic classes. REALLY bad idea.|::::|That is the idea behind progressive tax. The more you earn, the more taxes you pay. Because the US election system is based on fundraising, the favor returned is a less progressive taxation system. I don t even live in the US, but as a citizen, I am obliged to pay US taxes (unlike almost every other country, where you only pay tax in your country of residence).|::::|I think in order to kill our blue bloods we need to cap earnings at $200,000, and then maybe we can have a workers paradise!|::::|No if you work hard you should keep what you earn.|::::|i believe if someone worked for that money we shouldnt take it away BUT they should give it away to be nice|::::|nope|::::|NO business is capable of eliminating competition. ONLY government FORCE can do that. Without the ability to put you in jail or fine you, the ONLY way I can stop you from competing is to provide a BETTER product at a BETTER price. If I can do that EVERYONE wins. Wealth is ALWAYS redirected back into the economy. Anything short of BURYING the money involves putting it back into the economy. If I buy CDs, the bank uses the money to make loans. If I by stock, I am allowing the companies to employ more people. jobs couldn t be outsourced over seas because they couldn t earn more than 20 million anyway. Actually, this would ENCOURAGE moving overseas and taking your wealth with you. That way you ESCAPE the CONFISCATION of what you have earned. It would also ELIMINATE the jobs in any business I won t bother creating because I can t keep the money they EARN.

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