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The 1% vs. The Queen's List

Nefarious Wheel (628136) writes | about 3 years ago

Government 1

Nefarious Wheel (628136) writes "When Her Majesty, the Queen of England's finances were so rich they threatened to take too much money out of circulation, Parliament took over the management of her funds and put her on the "Queen's List". It's a drawing account, good for a yacht or two here and there and the extra silverware butler if you need one. She's still quite rich — most of London owed her rent, and she can throw the odd grand wedding if she wants...

What if we did that to the (say) top 100 billionaires — let the country take over the management of their money, let them buy whatever they want (with the exception of a few things like nuclear centrifuges, small armies, congressmen, corporations, judges, things like that). Let them buy whatever they want out of their fund otherwise, no real restrictions on amount beyond that. Put them on oh, call it "The Treasury List".

Would that fix the disparity between the 1% — 99% ?"

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The Queen is a consumer (1)

Dragon Bait (997809) | about 3 years ago | (#38697618)

Where was Steve Jobs' money? In Apple stock and Disney stock. Okay, let's say we took his money away from him. Now instead of Steve Jobs being the majority share holder we have the U.S. government and Steve Jobs doesn't get to control the destiny of Apple. Now some mindless bureaucrat who hasn't had an original idea besides governmental power grab gets to design the next iDevice.

I realize the submitter really doesn't understand where the 1% put the bulk of their money, but it isn't into flashy cars and big houses. They research businesses and invest in the ones they think will succeed. It is a great Darwinian process. The ones that are bad at investing wind up losing their fortunes over time to those that are good at investing in the next great thing. And it is the next great thing because you and I as consumers want our iPhones and iPods and not Zunes.

Yes, there are those that spend a fortune on stuff we consider "non essential." How much did Paul Allen's yacht cost? Of course, by definition, every penny he spent on his yacht went to someone else; the people who built the yacht directly benefited from the purchase. How many people are employed running it? Should we take their jobs away because you're peeved that he can control his own money?

I remember my mother bitching about some company spending on something she thought was too extravagant. I then pointed out that she didn't really need such a large house, a much smaller one would do just fine. She and my father really didn't need two cars, one would do them. So maybe the government should take away her extravagances and give them to others "more deserving.

Perhaps also Americans need to realize that even Americans living at the poverty line are most likely still in the 1% when you consider the entire world. What ever actions you want to take against America's 1%, do you want the world taking that action against you?

Yes, I know, I'm not beating the drum for government take over and will therefore be modded down.

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