Ben Stein says that taxes has to be raised on the rich....

[richardhutnik]

Kasz216 said:

mike_intellivision said:

klystron said:

 

 

Finally, remember if social chaos breaks out, the rich have the most to lose. That is why many governmental services -- from police to inspections to securities guarantees -- have a greater value to them than the poor.

I couldn't disagree more.

I mean, look at countries where there are huge breakdowns.

The rich are essentially kings.

If society completely collapses the rich would to aquire durable valuables and land, and use what they have to hire their own police forces and essentially become warlords who are now above the law.

The rich can go off and do their own Galt's Gulch and gated communities.  But, during a complete breakdown of society, these rich people will see their net worth shrink down to astronomically smaller levels than before.  Considering that a large number of wealthy are that way due to making money in paper assets, they wouldn't really know how to manage things.  And they are possibly not going to be able to get much staff to tend to their own needs.  And the money will end up likely worthless, likely being hyperinflated due to the amount of goods and services they have greatly reduce from the meltdown, and destruction that is likelky to follow.

Monetarily, they will have the greatest to lose, even if from a position of power, they have gained.