11-05-2008, 04:30 PM
hotzester Wrote:The problem as I see it, is that the "rich people" of which you speak aren't really keeping money out of circulation. They spend some, and anything they amass in savings is being invested by banks, etc. They're also putting money into their portfolios, and that, in turn, is also being invested. It's not truly out of circulation until they're cramming it under their mattresses, doing nothing.
I have no problem with the wealthy (and I'm HARDLY even remotely close to that category) doing as they wish with their money. Many of them also privately donate to charities, so it's not as though those in the lower tax brackets aren't receiving the money already.
For me, here's what it all comes down to - if you, or me, or anyone else is in that "lower end" of the pay scale, guess what? We can go to school, further our education, get a second (or third) job, start a business, or do anything else we want to do in order to bring ourselves up to the level at which we wish to be. That's not government's responsibility.
So if you find yourself in a position where $500 means the difference between paying rent or not paying rent, eating or not eating - and here's a secret: I'm hardly a fat cat myself - I took ONE college class before deciding I was bored out of my mind and not continuing further - but if you find yourself in that position, take the initiative to do what YOU need to do in order to change that.
We live in the greatest country in the world. We all have opportunities to make our own destinies. Do it. Don't let the government do it for you.
The thing about it is that not everyone in the US TRULY has the opportunity to get out and get great jobs. I've had an extremely blessed life.
I could say this: When I was younger, I lived in a duplex, and I ate Ramen noodles four days a week, we never knew if our car would start in the morning, my mom worked three jobs to keep me in clothes and under shelter. I put myself through college, working two jobs the entire time, graduated cum laude, and now I have a great job with plenty of room to excel.
BUT
I didn't grow up in a bad part of town where drugs ran rampant and people didn't know how to get ahead in life. I've seen this side of the world now. I've seen that people who live in conditions where it's ok to do drugs, get knocked up and live on welfare. There is much of America where people just aren't taught that they truly can have a better life. And if they ARE taught that, they aren't always shown how. It's difficult to say that it's their fault that they live where they live and they live HOW they live. To them it's ok, and it's just something that they have to expect and live with.
These are the people that I wouldn't mind giving up more of my income to help survive. Of course some of them are going to take advantage of the system, but on the other hand, there are LOTS of people who take advantage of the system - rich AND poor.
If you don't feel like helping these people out, be stingy. Give them your money to benefit yourself in the future.
As far as investment money goes, if you take any economics class, they'll show you three different ways to look at the money supply (M1 M2 M3 blah blah blah). This money isn't considered part of the money supply if it is invested. Also, right now, many investors are liquidating their investments to try to take advantage of the inefficiancies in the market. They've also removed it from the market because the dollar (true cash) is a better investment than many investments, ie HFs PE RE VC, etc.