Redistribution of Wealth

[Huguenot]

A hypothetical...

A person has the same education that everyone gets, and works hard to save a little cash, and then invests the whole lot (mortgage and pension) in creating an iPad app.

I'm going to use 'she' for brevity.

She has no specialist education in app creation, she was funded by the government to get an arts degree that so many people have.

She paid for her own education in tech development and business competence.

She spies a market opportunity for an App and plows everything she has into creating it. She employs a dozen people at market rates with appropriate benefits and perks (paid for out of profit). Many of them, except the most junior, have shares.

The App is ?1, she sells 3,000,000 copies for a net income of ?2.1m in the first year.

She paid ?1.5m in total in development costs, but every month she flirted with bankruptcy.

All the risk was hers - her employees got paid, whilst she worried about finances and ate baked beans.

Clearly, very soon, she's going to make a few quid. Enter the 'elite' zone.

She took all the risks, sacrificed her future and security, on a project where only 1 in a 100 are successful.

At what point does she become a rich bitch, sucking the nation dry?

[edcam]

At around 3.15pm last Friday.

[StraferJack]

When she senses success is just around the corner and starts a thread on a forum in an ill conceived attempt at reassurance?

[StraferJack]

But more seriously who is accusing who of sucking what nation dry

If "she" starts to make a profit and pays her tax on said profit where is the problem

She might think that the 99 other people who sacrificed as much as she did but weren't successful shouldn't be condemned to a life of misery and a basic state support is there for them. As long as the winners pay their taxes. After all she is winning

[Huguenot]

Nah, it's not me.

It was an interesting outcome of one of the spreadsheets of a client.

I only ever get development fees - same as a salary.

BUT within 3 years, their income dwarfs the wealth pattern of an average middle class. They become one of the 1%.

Have they ripped off society?

[StraferJack]

I can't see how they are ripping off society. Good luck to 'em

But it's when some of them look at their tax bill and not their net income and think its they who are losing out I start to get annoyed

When she was young she would have been aware of the state position on tax and started her risky venture in full knowledge of said contract. She would have paid good money to ensure she got to that level early on i'll bet. So she makes it. Well done, and now the cycle continues

[Huguenot]

Yes, it's a taxation question.

What should she be taxed? 60% to 80% of her income?

What is her level of responsibility? What is the level of abuse she should receive for protecting her income?

To what degree should she have her income redistributed?

[Huguenot]

What is she due for her ingenuity? For her employment creation?

[StraferJack]

What is she due?

She is due what she expected when she grew up in a society which taxed at 40% or 60% or whatever it is / was

She looked at that and thought "if I have an idea good enough and work hard enough and Get Lucky I will be minted even after all the taxes"

And she gets to where she wants to be. What is she due????

She didn't employ people out of altruism. She needed the labour. She wouldn't have succeeded without it

She isn't due anything

She is where she planned and hoped to be

[steveo]

Didn't you once accuse the baby boomers of sucking the nation dry? Or stealing the future?

They took the education on offer, worked hard, paid taxes and employed people too.

And the mortgage rate was 15%

[TillieTrotter]

SJ. Sometimes you're quite brilliant. xx

[UncleBen]

Agree with SJ

[????]

Even I agree with sj

[El Pibe]

Hmm, begging the straw man.

Has new nexus been hacking huguenot's account?

[StraferJack]

Nah. H loves to use words like sacrifice and beans in his "my dreams my hopes" posts

Nexus doesn't have any hopes, only links

Unless we are looking at a Harvey Dent situation

[El Pibe]

What a marvellous thought, in times of great stress the ultra rational H indulges every Internet whim led fantasy!!

Talking of which I gather the CTs are already accusing the FBI of this one. Way to prefigure the 'official' narrative by inventing your own before anybody has *any* information at all.

[Huguenot]

I don't have any bankrolled dreams in this context, I've made cash as a worker, not as an owner to date. I lost money owning stuff.

It's interesting how aggressive your response has been?

I asked a question that we asked together with friends, and they wondered what UK people would say.

The SJ thing is about conformity?

[StraferJack]

"The SJ thing"

Definition in slightly more words?

[Huguenot]

Well in so many words, maybe your approach was about how she should learn about debt and responsibility, instead of what she might create out of ingenuity and capability?

[StraferJack]

That's what you read from what I wrote?

Selective

[Huguenot]

Steveo, yes, I made my point.

I despise the world that the baby boomers have created. You and your kids need to make business.

[Huguenot]

SJ, it was selective. Having said that, you got the roar of the collective. You are not sidelined here.

The capacity of yourself and EP is not in question.

I'm challenging whether you can make a difference or just go with the flow.

[StraferJack]

Done making an app "makes a difference"? Wow. What does this app do? Make a difference to who?

As for going with the flow, don't underestimate the workers. We make things... Work. There needs to be a LOT of us. If you think that's a lesser calling...

[StraferJack]

And what's with the "you are not sidelined here" comment

I haven't said anything to suggest I am

Don't bully boy me with your superior tone buster

[Huguenot]

"Work. There needs to be a LOT of us. If you think that's a lesser calling..."

No, not really. Is that what nags you?