Quote:
Originally Posted by star
2. Rich people are usually rich because they inherited wealth from their relatives. That is the most usual way people have acquired wealth. There are some rich people who have worked themselves up from nothing, but they are the minority of wealthy people. There are, of course, others like Mitt Romney and Donald Trump who inherited wealth and then increased their wealth through their own efforts. Let us not delude ourselves that wealthy people have all worked hard for their wealth.
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There is a lot inherited wealth sure but some people are able to make their own fortune.
What's paradoxical mostly about high taxation policies that they actually make it more difficult to get rich by any other means than inheriting. With moderate taxation, even middle income families can create quite the nest egg by smart investing.
What I require from a society is that everyone is given the same chance, i.e. access too free, quality education, healthcare etc. After that, working should be encouraged by as low tax rates as possible.
Low taxation also brings a lot of jobs to the economy because it increases GDP and investments.