[extropy-chat] Tax Burden Gap
Acy James Stapp
astapp at fizzfactorgames.com
Fri Aug 20 19:21:54 UTC 2004
J. Andrew Rogers writes:
> Matthew Gingell writes:
> > I would define any person who can command vast quantities of
> > whether from a few wealthy sources or millions of middle-class
> > as "wealthy".
> This definition does not match what is is normally meant by "wealthy"
> in a market economy. A bank loan officer might control millions of
> dollars of capital but he isn't necessarily a wealthy person, any
> more than the navigator of a hundred million dollar cruise ship is
> necessarily a wealthy person.
> Think of venture capital and mutual fund managers, arbitrage brokers,
> currency traders, executives of corporations or pension funds, and so
> on. They all control big pools of other peoples money and they all
> try to make the pool bigger by finding interesting things to do with
> it, and none of them are necessarily super-rich people.
The difference between your definitions is the volitional agent.
If it's your volition commanding or controlling the capital, you are
wealthy. If it's someone else's, they are, whether or not you are
managing that capital. So in that sense, wealth is the means of
capital via one's own volition, whether directly or indirectly.
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