On 11/9/2019 1:58 PM, Ed Pawlowski wrote:
On 11/9/2019 1:23 PM, Frank wrote:

I read the question as "do we really need billionaires?"Â* The answer
to me is yes.Â* They have enough wealth to generated more wealth.Â* It
is often said that you do not create wealth by distributing it.Â* In
the extreme if we all had an equal share of the nations wealth there
would be no large investments in generating more wealth and we would
stagnate.

Well said.Â* If we put in a wealth tax, where will it stop?Â* It is like a
reverse pyramid scheme starting by confiscating a percentage of many
billions.Â* When the well runs dry we increase the percentage and drop
the amount of wealth qualified to confiscate.Â* When that runs dry, we
drop the levels again.Â* The lion needs to be fed.

So the minimum wage works it way up to $28/hour but after redistribution
the top wage in the county will effectively be about $30.

I do think employers have a moral and ethical obligation to pay a fair
wage to the people that make then a success. Education and skills should
be rewarded.

In our mobile society we are seeing rich and even middle class people
moving because of high taxes. This applies not only to our states but
also nations.

It may not be moral obligation but employers have to pay more to get
better employees. There was a story of a guy complaining that he had
been working 20 years at minimum wage. The comment was made that maybe
life was trying to tell him something.