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Re: [Phys-l] SOLAR , NUCLEAR ENERGY etc.

First of all, you cut out my message but included someone else's (below). Please learn to snip and paste so people know what you are referring to, which wasn't about redistribution of wealth at all, but the observation that many of the super rich do not contribute anything new to society. Rather, they invent new ways to redistribute THEIR OWN wealth round and round through Madoffisms (new word!) or passing it along to offspring who become better and better at such inventions. Too many of these CEO's and CFO's spend their time inventing new ways to complicate an already complicated tax and accounting system to hide or churn already existing money into their pockets and out from the companies they are supposed to be working for. The real entrepreneurs invented the wheel or the air-bag or the potato-chip and retired leaving their well-earned wealth to Junior and a bean-counter class to squander away in the name of *free enterprise.* Oh, there are many new inventions and innovations but they are way overshadowed by the churning of money through the system which does no one any good except the people who count the beans in a more efficient way.

Most everyone else here has been discussing the tax system lately. It's that time of year again when most people are looking for ways to keep most of their money or get back the no-interest loans they gave to Uncle Sam over the past year. Nothing wrong with that as long as you realize the tax system is front and back loaded in favor of the wealthy anyway no matter what statistics you use. The rich guys wrote the code and most of the rest of us rely on an account who may make about as much as we do to figure it out. (I do mine myself and last year had to wade through the AMT, learning after a few hours that I didn't owe any anyhow, so what's the point?) Anyway, we don't need to redistribute wealth... it's done for us through loopholes and writeoffs. "Lucky" for Katrina people.... they get a writeoff this year for relocation and the people who took in refugees also get to write it off. (One of the few times that the little guy got a break of that magnitude.)

Someone mentioned investing as a means of gaining wealth. Of course, that's valid and many of us teachers learned to do this... owning a piece of a company through mutual funds, stocks, or bonds, the old fashioned way. But, look at the ways many people *invest*. They don't care about the company, or would rather hope for the company to go down because through their options and puts they gain wealth in a reverse way. Perfectly legal, and I have a friend who wants to teach me about complex options and such. He has made a lot of money on the demise of the car companies. That would be fascinating, but I just don't have the time. (No deep philosophical objections here, just no time or motivation.)

The point is that there has been a redistribution of wealth going on right under our noses and we don't see it or don't care. But, no, I didn't condemn it as much but to point out the realities of the modern economics. (read my post from April 13 which I was thinking about pasting here but it's a waste of band width because you can look it up yourself.) In fact, I, as an informed investor use the system as best I can... never gaining the skills of the Peter Lynchs or Warren Buffetts of the investing world, but studying the good ones to learn how to make my money redistribute itself so I can take that cruise to Barbados, or sip wine in Tuscany.


Marty


On Apr 14, 2009, at 11:40 PM, Jack Uretsky wrote:

Marty is indulging in the great swindle.
redistribution of wealth = socialism = communism =marxism.
I lived for 5 months in communist Romania, and it was the kind of
society that Marty is describing. That is not the great compromise that
was achieved in this country with the graduated income tax. Henry Ford
apparently realized that one needed a well funded populace in order to
have successful industries. So there needs to be a balance. Civilized
countries are hunting for that balance, which seems to lie somewhere
between socialism and free enterprise. The balance has economic,
political, and social aspects intermingled in a marvelously complex
manner.
Of one thing, I am sure. There are no simple perscriptions!
Regards,
Jack


On Mon, 13 Apr 2009, Richard Tarara wrote:


----- Original Message -----
From: "Marty Weiss" <martweiss@comcast.net>

No, my dear naive physics friends, many of the wealthy in today's
society don't actually do anything to earn their wealth.
That was mine. Why didn't you keep what you are criticizing instead of the rest of someone else's reply?


More endearing words..from (presumably) an expert.
This is not mine.


Well being naive, I can imagine a brave new world where everyone gets an
equal share of the pie--deserved or not. At first it seems great, everyone
has enough to live comfortably, if not extravagantly. But slowly but surely
what (I think) would happen is without a market for many high-end products,
certain businesses and industries start to die. Without anyone with 'big
bucks' to invest, little or no new development happens. When there is no
incentive for excellence, what's the point? Why spend the money for
College--you actually don't need to work to get your share, and working
doesn't get you any more. So the society starts to fall apart (even more
than now--look at the sub-cultures that fall into versions of the above.)
To insure needed goods and services, the government starts to dictate that
all will work--those with the abilities MUST fill certain jobs. We'll need
doctors (at $30-50,000) so those with the abilities will be drafted. To
keep the masses entertained, we will need performers and athletes. The
talented will be assigned. Sounds sort of like a recently failed
society....;-)

Happy Dingus Day!

Rick

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--
"Trust me. I have a lot of experience at this."
General Custer's unremembered message to his men,
just before leading them into the Little Big Horn Valley



_______________________________________________
Forum for Physics Educators
Phys-l@carnot.physics.buffalo.edu
https://carnot.physics.buffalo.edu/mailman/listinfo/phys-l