Why Taxing the Rich to Help the Poor Doesn’t Work
How many of you remember the Comedy Central game show: “Win Ben Stein’s Money?” The host, Mr. Stein, would challenge his opponents in answering trivia questions and actually give away his own money to those who beat him. That show has long been off the air, but the game show host, turned conservative commentator is apparently still OK, with giving away his money…sort of.
According to a recent commentary, from Mr. Stein, he says that even if the democratic presidential candidates take more of his money and give it to the poor, it won’t help the poor get out of poverty. Mr. Stein noted that he is happy to pay his taxes and has no problem signing his income tax check, as he should. However, he says even if you gave the poor all the money from the rich, it still wouldn’t help the poor long-term. He claims it wouldn’t be long before they most likely returned to their bad habits.
That’s because according to Mr. Stein, it takes hard work, dedication and discipline in order for people to be successful and become rich. Mr. Stein’s comments come after Hillary Clinton, and Vermont Senator Bernie Sanders, who are running for president, both recently made comments about wealth inequality in America. Mr. Stein noted that there has “never been a time in history when the poor were made rich by making the rich poor, and I don’t think it will work this time either.”
Mr. Stein also noted that he is all for people making money and becoming wealthy in the U.S., but he does not believe it should come at the expense of those who are currently wealthy. Those who obtain wealth typically reach that status by getting an education, working hard and living with self-discipline.
Venture Capital – The First Meeting
Venture Capital – The First Meeting By Dr. Earl R. Smith II The Acceleration Lane I do a lot of work with companies seeking financing. Whether it is a first-round or follow-on, funding for further research and development or marketing and branding efforts, equity or debt financing, a start-up or mid-market company or financing to…
Venture Leasing – A Smarter Way To Build Enterprise Value
Venture Leasing – A Smarter Way To Build Enterprise Value By George Parker In 2003, venture capitalists and investors dispensed over $18 billion to promising young U.S. companies, according to VentureOne and Ernst & Young Quarterly Venture Capital Report. Less documented and reported is venture leasing’s activity and volume. This form of equipment financing contributes…
Understanding the Venture Capital Investor
Understanding the Venture Capital Investor By Gerard Brandon Promoting your Business to Venture Capital Investors is an attractive proposition. The investments are larger than you would get from friends, family and Angel Investors, and often they are more willing to invest in subsequent fund raising rounds. But Venture Capital investors are not always the easiest…
Defining the First Six Stages of a Business in the Venture Capital World
Defining the First Six Stages of a Business in the Venture Capital World Stage 1 Enterprise has no product revenue to date and limited expense history, and typically an incomplete management team with an idea, plan, and possibly some initial product development. Typically, seed capital or first-round financing is provided during this stage by friends…