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.
Self-Directed IRAs: Handle With Care
Self-Directed IRAs: Handle With Care IRAs – both traditional and Roth – are powerful tools for financial, retirement, and estate planning. But what if you’re not satisfied with your IRA’s performance? One way to “turbocharge” its benefits is to use a “self-directed” IRA, which is permitted to hold alternative investments that offer higher potential returns.…
Obtaining Financing
Obtaining Financing Whether you are a small or medium size business, the process of obtaining a loan is similar. Commercial lenders are interested in: The purpose of the loan. With a seasonal loan, for example, the borrower is able to pay the loan back when inventories and receivables decline after a seasonal surge in business,…
The Keys to Helping New Leaders Find Their Niche
The Keys to Helping New Leaders Find Their Niche The process to become a good leader is exactly that. A process. It doesn’t usually happen overnight. Good leaders have to learn and develop their skills and abilities and then hone them as they practice them. That takes time and experience. Sometimes there are bumps in…
What Happens to the AMT in 2018
What Happens to the AMT in 2018? As the dust is now settled on the Tax Cuts and Jobs Act, one glaring tax has remained standing, with relatively few changes. The alternative minimum tax or AMT. The first “minimum” tax started with the passing of the Tax Reform Act of 1969. With it was announced…