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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (10072)	1/27/2006 3:20:30 PM
From: Lane3	Respond to of 541737

The notion that is obsolete is that only real-property represents an asset. Good will and reputation are also assets. Your hard-working salaryman will leave those assets to his heirs. And Uncle Sam won't make any claims on them at all. <g>

To: TigerPaw who wrote (10072)	1/27/2006 3:50:48 PM
From: TimF	Read Replies (2) \| Respond to of 541737

Loan officers look at other things besides assets. The fact that they look at your salary does not make you salary an asset. Even if you are going to consider it an asset its not a durable one. A sculpture by a famous artist might be valuable, but if it is made of ice and the refrigeration goes out than it becomes a puddle of water. If the income stream is an "asset" than it is treated like all the other destroyed, non-functional, or used up assets. If the asset isn't around any more than there is nothing to pass on. Calling the salary an asset and treating it legally and in other ways like an asset doesn't change anything. Lets turn this around a different way. Do you want the income stream to go to the earners heirs? How would you do that? Would you provide the heirs with a government subsidy? Do you have some other method in mind? Tim

To: TigerPaw who wrote (10072)	1/27/2006 3:56:39 PM
From: neolib	Respond to of 541737

The notion that is obsolete is that only real-property represents an asset. If you get a loan they look at your income stream as well as your gold hoard. There are many interesting quirks and gaps in our monetary system, which has largely evolved without much out of the box thinking. I wish a good economics writer would write a book along the lines of the survivor shows: start with a small group of people stranded on an island, and show how and why a monetary economic system is implemented, and why it is beneficial instead of simple bartering. That could be very educational for the American public. But even more interesting is to look at what monetary systems might be in the future, and how they might alter existing problems such as regulation. It is surprising how many people just accept that the current monetary system must be about all that it should be, and we should not expect any radical changes in even the distant future. That attitude is very astonishing to me.