The Challenge of Chinese Wealth and the Symbol of the Corporate Jet As an Elitist
Around the world there seems to be this new unfounded theory that rich people are the cause of economic strife amongst the masses.
It's easy to blame others for our own failures in life, and it is quite easy for a populist leader to promote such an agenda as a way to stay in power themselves.
We have seen in the United States with their current Teleprompter in Chief this similar motif, just as we saw with the "Occupy Protests" where the 99% pointing fingers at the 1%.
During the "fiscal cliff" negotiations with the legislative branch of our federal government at the turn of the new year in 2013 we saw more of the same where wealthy folks will have to pay a higher percentage rate in taxes than everyone else, even though they aren't taking as much in services.
Those who make less money think this is wonderful taxing a minority group at a higher percentage rate.
However, if you stop to think about it, you can see that it is inherently unfair, unjust, and it demotivates those that work the hardest to attain the most wealth to keep going.
It takes away the carrot stick, and it makes super performers and those with the most productivity wish to no longer participate.
That certainly can't be good for any nation.
If this continues, the wealthy people will disengage, and quit.
They may even take their money somewhere else.
If you doubt this can happen, then you aren't watching what happened as the economies of Venezuela, Argentina, Portugal, Spain, Greece, and Italy recently imploded.
The wealthy took their money and left, or they worked to get that money out of the country and to invest it in a safer haven.
There was an interesting article in the Wall Street Journal on December 11, 2012 titled "China Tries to Shut Rising Income Gap - Beijing Faces Resistance From State-Owned Against Boosting Wages at the Expense of Profits," by Bob Davis.
There was another article in the WSJ on January 2, 2013 which explained how many wealthy Chinese were flying suitcases of cash out of the country to places like United States, Canada, and elsewhere abroad.
Interestingly enough, in Italy and Greece the taxing authority was following around people who had very expensive automobiles, pulling them over, and checking their names against the tax rolls.
If for some reason they hadn't paid as much taxes as might be appropriate for someone owning that type of vehicle, the vehicle was confiscated by the government.
In the United States, our own president has lambasted wealthy individuals and corporations who fly around in corporate Jets.
In China the general aviation industry is starting to boom, and the wealthy elites are buying their own private jet aircraft.
Will the same thing happen to them? Will they just one day use that jet to escape and fly to another country never to return? This sort of class warfare may be a common thing with greedy humans who want more, and covet what their neighbor has, but it is extremely unhealthy for the wealth of a nation, and their economic productivity moving forward.
Indeed I hope you will please consider all this and think on it.
It's easy to blame others for our own failures in life, and it is quite easy for a populist leader to promote such an agenda as a way to stay in power themselves.
We have seen in the United States with their current Teleprompter in Chief this similar motif, just as we saw with the "Occupy Protests" where the 99% pointing fingers at the 1%.
During the "fiscal cliff" negotiations with the legislative branch of our federal government at the turn of the new year in 2013 we saw more of the same where wealthy folks will have to pay a higher percentage rate in taxes than everyone else, even though they aren't taking as much in services.
Those who make less money think this is wonderful taxing a minority group at a higher percentage rate.
However, if you stop to think about it, you can see that it is inherently unfair, unjust, and it demotivates those that work the hardest to attain the most wealth to keep going.
It takes away the carrot stick, and it makes super performers and those with the most productivity wish to no longer participate.
That certainly can't be good for any nation.
If this continues, the wealthy people will disengage, and quit.
They may even take their money somewhere else.
If you doubt this can happen, then you aren't watching what happened as the economies of Venezuela, Argentina, Portugal, Spain, Greece, and Italy recently imploded.
The wealthy took their money and left, or they worked to get that money out of the country and to invest it in a safer haven.
There was an interesting article in the Wall Street Journal on December 11, 2012 titled "China Tries to Shut Rising Income Gap - Beijing Faces Resistance From State-Owned Against Boosting Wages at the Expense of Profits," by Bob Davis.
There was another article in the WSJ on January 2, 2013 which explained how many wealthy Chinese were flying suitcases of cash out of the country to places like United States, Canada, and elsewhere abroad.
Interestingly enough, in Italy and Greece the taxing authority was following around people who had very expensive automobiles, pulling them over, and checking their names against the tax rolls.
If for some reason they hadn't paid as much taxes as might be appropriate for someone owning that type of vehicle, the vehicle was confiscated by the government.
In the United States, our own president has lambasted wealthy individuals and corporations who fly around in corporate Jets.
In China the general aviation industry is starting to boom, and the wealthy elites are buying their own private jet aircraft.
Will the same thing happen to them? Will they just one day use that jet to escape and fly to another country never to return? This sort of class warfare may be a common thing with greedy humans who want more, and covet what their neighbor has, but it is extremely unhealthy for the wealth of a nation, and their economic productivity moving forward.
Indeed I hope you will please consider all this and think on it.
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