Unformatted text preview: o He believes that it would be a disaster to attempt to start the economy from scratch-He doesn’t think that the poor can be helped from ‘transfer payments’ (taxes) o The only way that we can help the poor is to provide them with more opportunities to succeed-You “do not make the poor rich by making the rich poor” – Abraham Lincoln Brief Discussion Afterwards-Over a 30 year period – the wealth of the top 15% of wage earners grew by 300% while the bottom 1/5 made the same amount over the same period of time-What determines what the ‘high value’ occupations (doctors, scientists, lawyers) make? o Conservative beliefs – need a huge carrot at the top to provide the motivation to occupy ‘high value/stress/work’ jobs...
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- Fall '11
- Abraham Lincoln, Taxation in the United States, Capital accumulation