Posted by
The Secular Conservative on Tuesday, January 02, 2007 11:11:15 PM
Why is money the root of all evil? Can you really be sure that money doesn't buy happiness? Some of the more common arguments against the wealthy:
- The rich have advantages because they're able to hide their money out of the country
The rich have no more access than you and I, they can simply afford to move their money better than we can. They have an incentive to move millions of dollars whereas you and I have no incentive to move a few thousand dollars. Their money does not give them special access, it just makes it more cost effective.
- The rich can take advantage of tax loop holes that the rest of us can't
Again, there is no special access to the rich, just a service that is more cost effective. "Tax loop holes" are legal (I won't speak to the illegal ones), so are available to anyone that can a) find them in the tax code or b) pay the people who find them in the tax code. Think about it this way: If I need to pay $10,000 to a firm that can exploit a loop hole, but my tax bill is only $20,000 (50%), it's not worth it the way it is for someone whose tax bill is $1 million (1%).
- The rich have access to an army of attorneys and accountants that the rest of us don't
In this litigious society, of course. If I could afford an army of attorneys and accountants, I'd have them too. Not to mention the fact that simply having more money makes a person more of a target. Think of it like home insurance -- the more home you have, the more insurance you need. I suspect the cost of those attorneys and accountants is proportional (or even more expensive as a percentage of income since most of us don't need someone on retainer).
- If I commit a crime, I'll go to jail, but not someone who's wealthy
I love this argument, as if a jury is so in awe that they won't convict someone with money. How many examples do we need? Skilling, Lay, Rigas. Sure, there are examples on the other side (O.J. anyone?), but if anything, being wealthy probably turns a jury against you. Our culture is so full of envy, it's amazing that rich people can get a fair trial at all. In addition, if YOU commit a non-violent crime, you'll get just as lenient a sentence as someone with money.
Not to mention these arguments just sound so whiney! So full of envy because others have more than you do. So sad.
That's all. There's my defense of the rich, not that they really need it.
-tsc