If someone has more Net Worth than you think is feasible, or is inappropriately large, what do you

[Mike 03]

propose should be done with their money?

Taxed by the IRS generally, and we don't know for sure for what they do with it?

Removed by the IRS and specifically redistributed among others who have less?

Redistributed to certain social programs, like feeding hungry children at school? Or providing medical care to those who don't have it?

Used by the government?

Used to the pay the salaries of people who serve the country but are improperly remunerated like teachers, social workers, soldiers, etc.?

Something else?

[BlooInBloo]

1. You may as well give it up. DU is virulently anti-rich people....

Even though they're almost completely unable to distinguish *wealth* from *income*.

It's just the way it is.

[hedgehog]

3. Well, then the question should ask about income, not wealth.

Of course, income should include ALL income, not just earned income!

[BlooInBloo]

5. (facepalm)

[uppityperson]

13. !

[pnwmom]

18. I think it might be the other way around. Total assets are probably a better

measure of wealth than someone's income at a particular point of time -- although age, health, and other factors would need to be taken into account, too.

[ProgressiveProfessor]

6. Hear Hear!!!

The confusion of income with wealth and lack of understanding of the different kinds of wealth here is very disheartening.

[BlooInBloo]

7. (shrug) No matter what side of the spectrum we're on, we're still Americans...

With all that entails.

[Mike 03]

12. I agree, but this is very helpul to have some kind of discourse and

just get it out in the open, so we can all understand it better.

Maybe we can help correct some misinformation.

[BlooInBloo]

14. Good luck. It takes *2* to have a discourse...

Otherwise, it's nothing more than the sound of one hand clapping.

[Mike 03]

11. LOL, that's okay with me.

I'm learning a lot from these exchanges.

[hedgehog]

2. Unless you're suggesting the IRS keeps tax money, "they" is us,

as in government of, by and for the people. It's up to us to decide how tax money is spent.

[ProgressiveProfessor]

4. Depends what that net worth is based on

If its land they bought and have held as green space for 50 years against rapacious developers, why would you want it seized or sold off?

There are also a myriad ways to calculate net worth, and even more places to hide stuff so it can not be traced.

Before we discuss how to depend such proceeds, should it not be discussed how to generate them?

[marketcrazy1]

10. I guess no deserves to be wealthy

or successful?? we should simply confiscate others wealth down to a level WE think is "fair"?????? are you serious!!?? what gives "us" the right to strip someone of what they have? as long as their "wealth" was lawfully obtained/received they have a right to keep it and we have NO RIGHT to take any of it beyond what is taxable under law.

[Donnachaidh]

8. oh dear - the level of posts from the *don't hate me coz I'm wealthy*

Is now at the hip-deep level. :eyes:

[Warpy]

9. Inheritance taxes

are the only way to deal with the types of great fortunes that tend both to buy governments and to set up inherited aristocracies of wealth.

It depends on what kind of country you want. My ancestors fled aristocracy and I certainly don't want it recreated here.

The inheritance tax will disappear completely for one year only, 2010. If the streets don't run red with blood, it will be a miracle.

The limit on inheritance needs to be adjusted for inflation but the inheritance tax needs to be retained.

It's the only way we have of reducing the damage to our country of great family wealth.

[.... callchet ....]

15. Get it first , then worry about what to do with it. That's what they did.

Spend it, spend it, spend it.. Like I hear at the boat docs all the time... Money ain't shit until you spend it. I don't like using foul language,

but I took license to print the saying.

[rwheeler31]

16. Is the wealth earned or unearned?

[BlooInBloo]

20. The height of irrelevance. Money is fungible.

[aikoaiko]

17. MYOB

[morillon]

19. Inheritance tax and income tax are plenty, IMO.

Limit people's ability to hide money offshore, reward them for giving money to charity, tax estates to avoid the building of a nouveau aristocracy, and eliminate tax breaks that don't reward socially responsible behavior. That's plenty.

Some people make more than others because they know how to do something that's worth a lot of money. I'm fine with a brain surgeon making more than I do. She can fix something I can't. She spent most of her life learning how to do it, too. Trying to make all salaries the same is unfair and just plain unrealistic, IMO.