History of the Estate Tax

[BlueStreak]

Originally Posted by ebacon

These kinds of assholes sure aren't the ones that invent stuff like Rearden Metal. All they have ever invented is ponzi schemes and Atlas Shrugged is their advertising material.

Right, that's something I have been pondering for years. We are told that these guys are "innovators" and "creators"...............

What is so innovative or creative about embezzlement? Legalized embezzlement, I'll grant you, but embezzlement nonetheless. Engineers, scientists and researchers are innovators who create new technologies and processes. The managers and accountants are simply supposed to manage the money. If they are "managing" the money in such a way that does little more than direct more of the money into thier own wallets and away from the innovations that create opportunity......They haven't "innovated" or "created" anything but thier own artificially elevated financial status.

And, what good is that to the business, or the greater society?

If you really want to fix what is wrong with American industry, this is the key.
EVERYONE, not just the people at the bottom will HAVE to start doing more what is healthy for the group and LESS of what simply serves personal ambition and greed. A CEO is an EMPLOYEE and there is no sensible reason for one employee to make 350 times what his fellow employees make. That is utterly ridiculous. Should he/she have reasonable financial incentive? Absolutely. The question is; What is reasonable?

For my part, I don't trust the magic hand of "market forces" to address this. Principally, because I don't believe this notion that "the market" has a mind of it's own, not entirely, anyhow. Internal corporate politics, the buddy system, quid pro quo, corrupt oligarchs...there are too many ways for these guys to be disproportionally and unjustly compensated to the detriment of the business and society as a whole.

Problem is; How do we fix this?

Dave