Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (745913)	10/11/2013 1:14:14 PM
From: i-node	2 Recommendations Recommended By THE WATSONYOUTH TideGlider Read Replies (1) \| Respond to of 1570843

>> 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.