The Initial Thought of Redistributing Wealth:
A series of events had just occurred as newspaper articles had flashed through my mind throughout these past years. We have heard the saying "that the rich are becoming richer, and the poor are becoming poorer."
Though I have been a capitalist all my life, and I believe in the American dream. I still believe that we should help each other especially when politicians define our tax laws; therefore, how much we keep in our pocket.
This can be unfair, because people that work hard all their lives never get ahead. It is troubling to think that someone that works fifty hours a week, which can be same amount of time that a CEO works never receives the right direction, as that of a business person, who earns tens times the amount of somebody that works the same amount of hours that they do.
It seems education between the poor class and middle class is different than the rich. Furthermore, it bears resemblance that most billionaires have an inheritance that they can pass onto their children. Those wealthy children will never understand the meaning of sacrifice and hard work because they never understood what it meant to work for their inheritance as did their ancestors.
If the rich can give a head start to their children, why can't we redistribute the commonwealth of America to the poor allowing the poor to attain their dreams and retire comfortably?
This last thought poked at me as I pondered about these dated events, and articles that I have read.
March 2015
Many financial experts have quoted that it takes a nest egg of at least 1 million dollars to retire comfortably. However, that depends upon your means of living and where a person lived. There are other factors that come into play as to how long 1 million dollars would help a person, but it is for certain that comfortable retirement would take about 1 million to 2 million dollars.
This is further discussed by one of the largest retirement companies in America, AARP. Their article can be found here:
"SAVING ENOUGH FOR RETIREMENT"
8th December 2015
I was beyond disbelief that certain people would be this desperate to win. I had just started work for the day at the local Loaf 'N Jug store. As I saw these customers buy each ticket, I wondered to myself what would people do with that amount of money? Some people didn't even know what to do with a large amount, let alone fathom that amount.
There was one customer that I shared a personal opinion that may be God has a reason as to why certain people aren't rich, which this person agreed. But, there was one customer that started making me think especially when he only bought one ticket.
I then proceeded to ask him why he had only bought one ticket, he turned and smiled at me; and said, "If we were to redistribute the 1 billion dollar jackpot, and gave the American people at least 1 million dollars we would end poverty."
I then asked, "How would that end poverty?"
Customer, "Because there are at least 325 million people in America.Well, you all have a nice day." Still smiling as he walks out of the store.
I was taken aback by his answer.
24 February 2016
Actress Eliza Dushku posted a Facebook video about the wealth of America. This is what she states in her video:
Final Thoughts:
There are more than 500 billionaires in the entire world. Back in the early 2000s, my local newspaper, The Register Guard, noted that if we were to total the world's billionaires wealth it would equal 1.1 trillion dollars. Give 7 billion people at least 1 million dollars, we would have more than enough money for each billionaire while allowing people a head start towards their futures - reeducate people about money as the wealthy teach their children (the children who already have a advantageous head start over other individuals in the world).
Here in America it would give the chance for Americas to invest into their futures while allowing them a head start to retiring comfortably. Furthermore, the homeless on the street would be able to buy a house and buy decent clothing thus allowing them to pass job interviews. Though 1 million dollars is a lot of money, it isn't enough to make the rich fall from their tax brackets. After all, the rich would still have to provide jobs allowing the poor class and middle class to make up for the missing money towards that ideal retirement.
Though the idea may sound ideal, I know that there are other people who wouldn't take advantage of this opportunity - i.e. gamble or spend it lavishly- at least the rich wouldn't be at fault for their actions - since people do have their agency. It isn't up for us to decide what people do with their money, but it is up to us to help other people.
The question that I would like to ask is this - is it an ethical way to help people? And, what would be the repercussions to giving people at least 1 million dollars?
And, could this end financial cures if the wealthy gave away their wealth?
Just my thoughts on possibly ending the financial cures of the world, and the United States of America.
Tee-j your intentions are great, however, you might wanna check your math on the numbers you are using. Simply, if you were to give 100 dollars to 7 billion people it would be 7 trillion dollars (this is of course more than the accumulated wealth of the wealthy). My second point is, you've assumed that children of wealthy people won't understand the meaning of hard work and sacrifice because of their inheritance. So wouldn't your assumption hold true if 7 billion people all of a sudden inherited a million dollars (that's if it were possible because there isn't even that much wealth in the world combine.) My third point is that the most efficient method of redistributing wealth is capitalism. Don't get me wrong it's not perfect because humans are not perfect. But because humans are not perfect redistributing wealth by taking it from the wealthy and giving it to the poor wouldn't be perfect either. History has proven that capitalism has always been better than socialism. Hard to argue with the past. So until someone figures out a better way to redistribute wealth that is different than socialism or capitalism and all other core theory's, everyone needs to accept fact that we are imperfect people trying to live in an imperfect world.
ReplyDeleteSorry I meant 1000 dollars above instead of 100.
ReplyDeleteI understand that wealthy people teach their children differently about money than the poor and middle class. However, wouldn't you agree that somebody that earns something rather it be given to them holds more value?
ReplyDeleteOf course the less wealthy wouldn't hold the same value of 1 million dollars as much of an inheritance as that of the wealthy. For example, the Hearst family, over the last two centuries, has redistributed their 50 billion dollar pie to their children and great - grandchildren. Many of these Hearst generations were able to receive between an inheritance of 8 to 10 billion dollars. Obviously, the inheritance of 1 billion dollars would hold different than someone who inherited one million dollars since someone with one billion dollars is set for life. As noted in the retirement article, it takes a little over 1 million dollars to retire comfortably.
Hence, nobody would be equal in wealth - as socialism would indicate - because a less wealthy person would still have to work for the remaining money to retire well.
And, thank you for correcting my math. I was going off what the customer told me without much blinking an eyelash. Thank you for your thoughts.