When Warren Buffett’s made some specific claims in recent comments on taxes paid by the Super Rich; many Economy Gurus’ put their pennies worth forward on the issues. Some offered pro. Others offered con. Among those who offered Pro. Sentiments, the center of their argument involved the principle “equitable contribution by all”; the rich can be taxed just like everyone else. Those who espoused the Con. point of view stress the argument that the rich are the only creative parties; it is they who do all the innovating. They are the only group to whom kudos are due and to withhold such adulation diminishes the capacity of the community to flourish. One party actually offered for negation the thought that the rich can be expected to act so as to frustrate their obligation to contribute. Both parties then proceed to bash existing tax codes, as well as those regulatory components restraining behavioral excesses, that the history of the community had previously put in place.
None of these other commenters addressed the root problems affecting world economic prosperity. We have lost perspective on what pre-requisite considerations must apply, when specie’s adopts a communal strategy for survival and prosperity. What say you, should the principle “he whose actions bring high SURVIVAL BENEFIT is entitled to a larger share of the prosperity” be the only germane criteria for determining communal persistence? When a human society descends to focus mainly on trivialities, disburses high premium to that end and blatantly ignores the need for upholding the mechanisms which support necessity; can success be expected to occur?.
It is patently clear to many Americans that they whose major source of income descend from un-earned profits; have managed to receive humongous returns while providing very miniscule communal benefits. It is also clear that of such humongous profit, a major % descends through that financial system which gave rise to Wall Street. Was that not the system intended to be a convenient vehicle through which producers may have access to investor’s capital. Was it intended to be an agency for rampant gambling? Is it unfair to now say that it has become a charnel house of unrestrained profiteering and a source of substantially unfair tax advantage and benefit distribution? Unacceptable disadvantage results for the vast mass of others who strive in the community; educators, food producers, fire and crime preventers, ecology sustainers and many others of those whose efforts shore up the fundamental structure of our civilization. Other institutions make equal and often superior contributions, Universities, Friendly Societies, Non Profit groups, repositories of moral codes, Governmental innovators (NASA, ARMED SERVICES, and FEMA). On what food does this our Investor classes feed that they deserve such privilege.