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Facts of Wealth?

Discussion in 'General Investing Discussion' started by Tropo, 16th Mar, 2009.

  1. Tropo

    Tropo Well-Known Member

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    Facts of Wealth?

    "You cannot legislate the poor into freedom by legislating the wealthy out of freedom.
    What one person receives without working for, another person must work for without receiving.
    The government cannot give to anybody anything that the government does not first take from somebody else.
    When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.
    You cannot multiply wealth by dividing it."

    Dr. Adrian Rogers, 1931 - 2005
     
  2. Chris C

    Chris C Well-Known Member

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    This may very well be the end of an era... civilization has experimented with the welfare state model for the last 60 years and I think it may well be a breaking point now that the baby boomers are moving into the "receiving without work" phase of their lives.
     
  3. Andrew Newman

    Andrew Newman Well-Known Member

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    Hi

    Interesting quote!

    Chris - end of era! Whether you or I agree or disagree, welfare will always exist.

    Although the generosity of governments paying welfare may well reduce in the future, welfare will continue, particularly when there are people who really need assistance - such as the sick and disabled.

    Kind Regards
     
  4. Chris C

    Chris C Well-Known Member

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    I agree, and I'm not begrudging all forms of welfare; I just think the system is overcompensating the NEED for welfare, and I don't think the role of government extends to looking after the dying, the retired and the disabled.

    We have become a very politically correct society that is afraid of reality and the truth, but like all good crisises, reality, whether we want to see it or not will be thrown in our faces and tough decisions will need to be made. I just tend to lean towards the belief that the majority of those that are supported by the system will soon find themselves reconnected with their long lost survival instincts of "self reliance".

    Some will rise to the occasion, some will not, but through this new forms of welfare will emerge, a form of welfare that is not provided by governments rather by individuals operating in a market environment where compensation to providers will be in the form of intrinsic worth derived from helping those less fortunate than oneself.

    Ultimately I think society will be better off for it as we redefine many aspects of life and death, and we will better redefine the differences between the sick and the dying, the handicapped and the disabled, the retired and those no longer able to work.
     
  5. dmesh87

    dmesh87 Member

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    Good quote there and an interesting sentiment. This is one area I believe there is a cultural difference between the US and Australia. Australia is a culture that props up and promotes the 'aussie battler' and underdog as the most important part of society.

    Its a culture that sometimes looks upon management and those in power with resentment and an attitude of entitlement when they see others that have more then themselves. Many in our culture instead of saying I'm going to work hard and be where that person one day prefer to say I deserve a piece of their cash even though I never earnt it. I dont think that culture exists as much in the US as it does here, in the US its more about the American dream and about being able to become a millionaire if you have the brains and work hard.

    I agree with the quote that this culture of taking from the welathy to give to the middle or lower class can destroy a nation, it may buy votes for governments in the short term but ultimately sends a message to society saying that No.1: the government knows how to spend wealthy peoples money better then they do and 2: You can remain in a lower or middle income bracket and still receive the benefits of the higher income earners, this creates the effect of motivating people less to reach higher earnings brackets because they get taxed so much more.

    I think the attitude Dr Rogers talks about in the quote may already be undermining this nation. I dont blame corporations such as car manufacturers moving operations overseas from Australia. I would not want to be based in a country where every few months there is a strike because workers think they deserve more and more of the companies money and are jealous of executives earnings. Australia is a heavily unionised country and if i ran a corporation it would not be my number one stop to move operations.

    When you tax the weathy to cut taxes/give money to lower income earners or the unemployed you move closer to a socialist state where through taxes you try and manipulate peoples earnings to move closer and closer to each other until after taxes everyones earning a very smilar wage. There are situations such as temporary unemployment and dsiability where welfare is needed as was mentioned before.

    Just my personal opinion and I'm sure there are many who disagree.