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Are you seriously maintaining that someone who inherits $10M and lives off the interest is contributing more to America than someone who works for Habitat for H
by vannevar 16y ago
Are you seriously maintaining that someone who inherits $10M and lives off the interest is contributing more to America than someone who works for Habitat for Humanity for $35K a year? It's much more logical to suggest that the American system allowed the top 1 % to accumulate much more wealth than they would have amassed by their wits alone, and consequently owe a disproportionate share back to society.
- winterlightning 16y agoSomeone who inherits 10M and has no skills in investing the money will lose it soon anyways. If you look at the fortune 400, most people who got there did it because of their personal skills. (Except for the Walmart family) It is not the American system but personal ingenuity that allows people to accumulate wealth. It would be interesting to look at the wealth distribution of more socialist oriented countries and their GDP to see which system is more effective. On the other topic, starting a successful corporation could generate thousands of jobs and while one charity worker's cause is noble, a very wealthy person's charity donation per year would exceed the value provided by any single person.