Friday, March 6, 2009

Preserving Wealth - Where's the Injustice?

Should the wealthier members of society be forced to pay through taxation, for the poorer members?

I saw recently that the 3 richest men in the world have yearly personal incomes greater than the GDPs of the 48 poorest countries. I didn't verify this factoid but assuming its true; isn't there something obviously wrong. I detest socialism but men like Bernard Madoff make it abundantly clear possession of property and doesn't guaranty a person right to have it. Justice is not an easy issue. It is a lot more complex than micro transactions would imply.

Helping the poor can cripple them or raise them to up to a level of contributing member - It all depends on the nature of poverty and the help provided. The question that a wealthy person should consider is this, "If the poor are not going to be helped, what consequences might there be? Is it reasonable to accept the redirection of a portion of ones wealth to preserve social stability and prevent a violent uprising?" It is not just a matter of holding on to personal wealth. It is a matter of being able to enjoy living in a peaceful world where one doesn't have to hide one's wealth for fear of being targeted (rightfully or wrongly) for the perceived injustices in the distribution of wealth. Helping the poor should be considered as a practical means of preserving wealth and moreover preserving the right to keep one's wealth when others are suffering from the lack of it. It may indeed be a kind of extortion but for the wealthy it might also be the best way to serve one's own rational self-interests.

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