🚀 go-pugleaf

In article <4793bo$slp@aimnet.aimnet.com>, edwardk@aimnet.com (Edward N. Kurmudgeon) writes:
> David L. Cathey (davidc@montagar.com) wrote:
> : 	Which seems to indicate that you don't think that's they way
> : it is.  Given that many people "fortunes" are only in paper (bonds, stocks,
> : etc - which is providing capital to something), what do you think the
> : rich are doing with their money?  Stuffing matresses?
> 
>                                              ...  We also tax real
> property, i.e. houses and land, which I believe is a bad habit carried over 
> from Medieval feudal ideas.  

	I could go for that :-)

>                              Actually, wealthy people don't hoard money, they 
> use other people's money, that's how most of them become rich, if they didn't 
> inherit it.

	But the people who's money they use become richer, too.  And some
people become rich simply by loaning their money (speculation, venture capital,
penny stocks, etc).

>                                                 Economists have always assume, 
> and I believe correctly, that poor people consume a larger percentage of their 
> income, i.e. spend it on things that would not produce future income, such as 
> VCR, TVs, or food, and rich people saves (i.e. invest or purchase assets that 
> lead to future income) a larger percentage of their income.  The national 
> sale tax we are talking about would tax consumption but would not tax 
> investment.

	But what about basic "durable goods" which are usually higher priced,
such as refrigerators, washer/dryers, furniture which are not frivilous
compared to VCR's, TV's, etc?  (I don't think cars fall into this area, since
too many people purchase an expensive car for show rather than need).  Would
homes and property be subject to a sales tax, too?

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David L. Cathey                       |Inet: davidc@montagar.com
Montagar Software Concepts            |UUCP: ...!montagar!davidc
P. O. Box 260776                      |Fone: (214)-578-5036
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