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Soaking the rich would not only be profoundly immoral, it would drastically penalize the very virtues: thrift, business foresight, and investment, that have brought about our remarkable standard of living. it would truly be killing the goose that lays the golden eggs.
-Murray Rothbard
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Soaking The Rich Would Not Only Be

Murray Rothbard
Soaking the rich would not only be profoundly immoral, it would drastically penalize the very virtues: thrift, business foresight, and investment, that have brought about our remarkable standard of living. it would truly be killing the goose that lays the golden eggs.
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The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. in fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. for it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the unites states to by far the highest standard of living - for the mass of the people - of any country in history.
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The system is not intended as a substitute for private savings, pension plans, and insurance protection. it is, rather, intended as the foundation upon which these other forms of protection can be soundly built. thus, the individual's own work, his planning and his thrift will bring him a higher standard of living upon his retirement, or his family a higher standard of living in the event of his death, than would otherwise be the case. hence the system both encourages thrift and self-reliance, and helps to prevent destitution in our national life.
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Housing works is the coolest thrift store in the world, because not only are they the best thrift store - they're not the most thrifty thrift store - but they have amazing stuff and all of their proceeds go directly to kids, mostly homeless kids, living with aids and hiv in new york, in the metropolitan area.
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Most people put money in their piggy bank. i buy a goose that lays golden eggs over and over again. that's what an asset is.
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Even if your goose habitually lays golden eggs, it will still be cooked.
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I do believe that india needs a lot more foreign direct investment than we've got, and we should have the ambition to move in the same league many other countries in our neighborhood are moving. we may not be able to reach where the chinese are today, but there is no reason why we should not think big about the role of foreign direct investment, particularly in the areas relating to infrastructure, where our needs for investment are very large. we need new initiatives, management skills, and i do believe that direct foreign investment can play a very important role.
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