Tax the Rich:Get out of the economic recession?

by MuminBusiness

The economic depression is taking its toll in Europe and the USA. How do you deal with it?

In the UK and the USA, people everywhere are pressured under the economic depression or recession (whatever you want to call it). “It’s the Banks, it’s the Banks”, that is the victim’s cry at the moment. A cry that is repeated time and again on the media while on the face of it, the banks continue to profit and pay out outrageous bonuses to people.

Now, there is talk of taxing the rich more and it seems that the two opposing parties in the US have finally found something to agree on.

What do you think? Should the rich be made to pay more towards the recovery of our economy? Or should we all play our parts?

Should the "rich" be made to pay more tax? or should we all play our parts?

To get out of economic recession


Stephen Hester: A victim of the Economic Downturn?

In the UK, there was a bit of a media frenzy about the payment of approximately a million pounds in shares to one of the bankers, Stephen Hester.

A million pounds?! Wow, I would love to be given that as a bonus!  The poor rich guy has now had to give up his right to the bonus payment because of all the attention he received as a result.  The fact that the bank is mostly owned by the government/taxpayers/us -84% share (Wikipedia) – probably swayed his decision.

However, I cannot help but feel sorry for Stephen Hester.  He has done what he was employed to do by the government in taking over the operating of the bank but now he is made to feel guilty about accepting the bonus which was a part of his original contract.

No Fair… 

Who do you look to for salvation?

Overall, there is a feeling of resentment towards people who make a lot of money, is this justified? Were we not all a part of the problem?  Did we say ‘no’ when we were offered easy credit? Can we now blame the banks for all our woes?  We want the banks to suffer but then have we stopped using their services? We want the rich to be taxed a great deal but if they stop employing us, who will?

Is there really anything to be gained from this victim mentality we are choosing to bear?  When we look for someone else to blame, are we doing ourselves any favours?

A lot of questions, no doubt, but it does all make me wonder.  Is our life improved in any way by blaming everyone else for our misfortunes, whether justified or not?

I suggest we stop blaming the rich, the banks, anyone in a better position than us and that we start to look inwards to find our own salvation.  No one can possibly care for us or our families as much as we do.  The government is looking out for itself as the politicians just try to do whatever the highest paying or noisiest people want.  All the politicians are concerned about is staying in office as long as they can and making the popular call.  So why bother waiting for them to make the country the way we want it.  We say we are democratic and yes, we are.  However, I remember reading something along these lines in the Poisonwood Bible, if 51 out of a hundred people vote for something, it does mean that 49 people disagree on this very thing.  That is a lot of people who disagree so how can we say democracy is the voice of the people, it is the voice of some people.

Again, let us learn to take responsibility for ourselves and those of the community around us.  If we all could do just that, I think our respective countries would be better for it.

Updated: 02/23/2012, MuminBusiness
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