Re: Definition of "rich"?
- From: "The Trucker" <mikcob@xxxxxxxxxxx>
- Date: Wed, 19 Apr 2006 09:49:23 -0700
"nospam" <nospam@xxxxxxxxxxx> wrote in message
news:39idnQa8c6AEu9nZnZ2dnUVZ_sSdnZ2d@xxxxxxxxxxxxxx
Peter Bjørn Perlsø wrote:
OK, seeing the followups, there seems to be a consensus that "being
rich" is defined by your assets, not your income.
wealth = assets-liabilities
wealth(T) = wealth(0) + integral from 0..T of (income(t)-expenses(t)) dt
Wealth is the capacity to forgo or to command labor. That may or may
not be assets - liabilities. If I OWN a very large monoplistic company
and all of the tangible assets are pledged as a means to finance my
company I am STILL quite wealthy. It is the POWER derived from
control of these assets that imparts wealth on the form of command.
They are very strictly corelated thou.
Now here's the kicker: A lot of people talk about "taxing the rich for
the sake of the poor", and wanting to raise taxes on high incomes to
enact this taxation. Considering what has already been discussed, do you
consider this "fair"?
Well, there are rich and RICH, there are poor and POOR.
The discution is longer ......
--
"I know no safe depository of the ultimate powers
of society but the people themselves; and
if we think them not enlightened enough to
exercise their control with a wholesome
discretion, the remedy is not to take it from
them, but to inform their discretion by
education." - Thomas Jefferson
http://GreaterVoice.org
.
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