Monday, June 15, 2015

The Top One Percent

There is a lot of discussion about the inequity of wealth between the top one percent of the wealth holders and the rest of us. The top one percent have wealth so vast as to boggle the mind.

So why is this such a hot topic.

We are curious. What would it be like to have unlimited wealth. Billions of dollars, no trillions of dollars, is a lot of bling. Most people can't even imagine how big a number that is.

We are envious. We are not satisfied with what we have and covet more.

We think wealth is evil. Money is amoral it can be used for good or evil.

We think wealth distribution should be equal. This experiment has been tried and it doesn't work. If you take away the incentive to achieve and better yourself you end up with an entitlement society.

We think the government should redistribute wealth. That experiment also didn't work. It was called communism.

We know wealth concentration means a similar concentration of economic and political power. Which as we discussed can be used for good or evil.

I think I would be more concerned if there is no opportunity for income mobility. For the economically disadvantaged to better themselves and move up. The American society is one of the best in the world for earning your way out of poverty.

The best legacy is one earned by years of service to others. A capitalistic society can reward customer service with wealth. The process of earning wealth teaches us how to manage wealth.

Financial peace is also accompanied by contentment and giving.

The next post puts all this in persepctive...

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