Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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TideGlider

To: combjelly who wrote (745913)	10/11/2013 1:14:14 PM
From: i-node	2 Recommendations Read Replies (1) of 1570890

>> The best way to break up such concentrations is an estate tax. This is just factually inaccurate, for a number of reasons. Take Paine's 100% estate tax, for example. What it does, quite well, is to encourage people to spend their wealth -- as Friedman would put it -- in "high living". You can't take it with you, so you might as well spend it in Vegas. The downside of this, of course, is that there is no investment capital left with which to create innovation which is what drives economic productivity. And that investment capital is essential for creation of the jobs that will allow the poor to pull themselves out of poverty. It all comes down the fact that jobs are created by wealth, not poverty. And a poor person's greatest need is a job.

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