cmendla - 5:48 pm on Oct 21, 2011 (gmt 0)
If they ever did redistribute the wealth, it would have to have a caveat that the occupiers BUY BATH SOAP AND USE IT... Man, that crowd literelly STINKS.
Seriously though, if someone were to confiscate all the wealth of the 1 percent and redistribute it, my contention is that the gain for the receivers would be temporary. The wealthy don't hold their assets in cash (Our dollar is based on wishful thinking anyway, not hard assets). Their estates, art, jewelry, companies etc would have to be sold or divested. The shock effect of that would most likely collapse the economies of the world. GDP dropping by 80 percent would probably cause mass starvation.
THe funny thing is that when the OWS protestors went to protest outside the homes of New York's one percent they marched right by George Soros's home without protesting their. ... probably just an oversight on their part.
Oh, and look at motives.. Buffett with his inane 'My sexterary pays more than me' is a point. If taxes are raised, buffet will pay some more federal tax (If he pays it at all, he is supposedly a billion in arrears)..
however, it's like when I go to a magic show. Quite often, I figure the trick out by ignoring the distractions. The truth is that buffet stands to make millions if not billions from a tax increase. It has to do with the fact that he can't liquidate say, his shares in coca cola easily without totally disrupting the market. A private investor can.. An increase on the cap gains SCREWS THE LITTLE GUY TO BUFFETs BENEFIT. Also, he does a lot of business in tax shelter funds.. Guess where money will go with a change in the tax law?