> New rich people come along and some rich people get poor.
Absent massive redistribution that is usually a result of major political change (i.e. the New Deal), rich people tend to stay rich during their lifetimes and frequently their families remain so for generations after.
> That might indicate that money isn't a great proxy for power.
Due to the diminishing marginal utility of wealth for day to day existence, it's only value to an extremely wealthy person after endowing their heirs is power.
> Absent massive redistribution that is usually a result of major political change (i.e. the New Deal), rich people tend to stay rich during their lifetimes and frequently their families remain so for generations after.
The rule of thumb is it lasts up to three generations, and only for very very few people. They are also, for everything they buy, and everyone they employ, paying tax. Redistribution isn't the goal; having funded services with extra to help people who can't is the goal. It's not a moral crusade.
> Due to the diminishing marginal utility of wealth for day to day existence, it's only value to an extremely wealthy person after endowing their heirs is power.
> In, for example, the Netherlands the richest people pay less tax [0]. Do you think this is not the case in many other countries?
That's a non sequitur from the previous point. However, on the "who pays taxes?" point, that article is careful to only talk about income tax in absolute terms, and indirect taxes in relative terms. It doesn't appear to be trying to make an objective analysis.
> Is that a benefit of having rich people?
I don't share the assumption that people should only exist if they're a benefit.
> If companies were employee-owned that tax would still be paid.
Some companies are employee-owned, but you have to think how that works for every type of business. Assuming that it's easy to make a business, and the hard bit is the ownership structure is a mistake.
> Well it's not a matter of the people existing, it's whether they are rich or not. They can exist without the money.
I meant people with a certain amount of money. I don't think we should be assessing pros or cons of economic systems based on whether people get to keep their money.
> Anyway, if you don't think it matters if they are of benefit
I don't know what this means.
> then why did you bring up the fact that they pay taxes?
I bring it up because saying they pay less in income taxes doesn't matter if they're spending money on stuff that employs people (which creates lots of tax) and gets VAT added to it. Everything is constantly taxed, at many levels, all the time. Pretending we don't live in a society where not much tax is paid seems ludicrous. Lots of tax is paid. If it's paid as VAT instead of income tax - who cares?
>I don't think we should be assessing pros or cons of economic systems based on whether people get to keep their money.
but earlier you said:
>They are also, for everything they buy, and everyone they employ, paying tax.
So if we should not assess the economic system based on whether people keep their money, i.e. pay tax, then why mention that they pay tax? It doesn't seem relevant.
> So if we should not assess the economic system based on whether people keep their money, i.e. pay tax
Not just pay tax. People lose money over generations for all sorts of reasons.
I brought up tax in the context of "redistribution", as there's a growing worldview that says tax is not as a thing to pay for central services, but more just to take money from people who have more of it than they do.
>> Due to the diminishing marginal utility of wealth for day to day existence, it's only value to an extremely wealthy person after endowing their heirs is power.
> I think this is a non sequitur.
I mean after someone can afford all the needs, wants, and luxuries of life, the utility of any money they spend is primarily power.
Absent massive redistribution that is usually a result of major political change (i.e. the New Deal), rich people tend to stay rich during their lifetimes and frequently their families remain so for generations after.
> That might indicate that money isn't a great proxy for power.
Due to the diminishing marginal utility of wealth for day to day existence, it's only value to an extremely wealthy person after endowing their heirs is power.