The Redistribution of Wealth — Fair or Not Fair

The following has been adapted from a Wendy McElroy blog posted October 28, 2008.  If you have assets or earn money, I think you’ll appreciate it.  Rang pretty true to me.

While going to breakfast at my favorite diner, I saw a homeless man near the restaurant holding a handmade sign asking for a handout. 

I entered the  restaurant to have a nice breakfast comprised of 2 eggs, toast and orange juice and had a conversation with the waiter who noticed an article in the newspaper that I was reading about redistribution of wealth, a hot campaign topic in the recently concluded US Presidential election.

“I personally feel it’s about time we have a loving and caring government that redistributes the wealth of our country in a way that’s fair for everyone,” the waiter opined.

I only nodded, acknowledging his statement.

When the bill came, I explained to the waiter that he had given me exceptional service, but his comment about redistributing the wealth made me realize that we should all start striving for the ultimate ideal of a “loving and caring government” and we should all endeavor to “redistribute the wealth fairly at home”.

He seemed to agree with my statement, nodding his head in apparent approval.

I then explained to him that I would begin playing the part of a “loving and caring government” immediately and redistribute the $3 tip that I intended to give him for his great service to someone that I considered to be more in need than him pointing out the window to the homeless man that I saw when entering the restaurant.

The waiter angrily stormed away.

I went outside, gave the homeless guy the $3 and told him to thank the waiter inside because I had decided that he needed the money more.  The homeless guy looked at me, not sure what to make of what I’d just said, but was nevertheless grateful.

I got in my vehicle and realized that the experiment that I’d just conducted had left the homeless man quite happy by getting money that he didn’t earn and had left the waiter angry with me for giving away money that he did earn.

Guess this whole redistribution of wealth thing is going to take some getting used to for those of us that work and have assets.

This story makes a great point and should get you thinking about working with a team of advisors who can help you protect your wealth and preserve your income in the soon-to-be rapidly changing tax and already rapidly changing financial environments.

Are you ready?

How are you doing so far?

For more information about working with an independent advisor click here www.usawealthmanagement.com.

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·          Investing in market related securities involves a risk of principal loss.  Prior to making any investment decision, the services of an appropriate professional should be sought as investment related recommendations are dependent upon the personal financial situation of each individual investor.

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