All around the world governments are faced with budget deficits in shortages of cash. As citizens debate the role of government and what should be provided for the needy and less fortunate, the focus always turns to the rich. Since they have so much, why shouldn't they pay more? Britain has taken the assault on the rich to a new level by proposing a one- time emergency wealth tax. This is not a tax on income, but instead a tax on accumulated wealth. A leader of the Liberal Democratic Party said the rich need to be taxed more to avoid social unrest, and that the country had to hardwire fairness into its budget. Keep in mind that Britain is already hiked the top tax rate for the rich to 45%. It seems that class warfare is worldwide – not just confined to our US election rhetoric.
Well, one billionaire has had enough of bashing the rich. Gina Rinehart, one of the richest women in the world, has touched off a firestorm with her recent comments. Responding to attacks on the rich in the Australian newspapers, she responded, “there is no monopoly on becoming a millionaire.” She went on to say, "if you're jealous of those with more money, don't just sit there and complain, do something to make more money yourself- spend less time drinking and smoking, and more time working".
Although her remarks certainly didn't make her any friends among advocates for the poor, she certainly was within her rights to share opinions. Not only has she turned the mining company she inherited from her father into a global powerhouse, but she has seen both her grandfathers and three other friends go from poverty to extreme wealth. She says the lessons are all the same, “you can't get rich without working hard, taking risks, investing, and reinvesting your profits.” At least she walks the talk, she recently made headlines by publicly disinheriting some family, calling them lazy.
She has advice for governments as well. If you want to help the poor and our next generation, make investment, reinvestment, and businesses welcome. She continues to be skewered in the media for her brash comments. Personally, I agree with much of what she says. And I’m fine with her delivery as well – sometimes people need to be slapped with the truth, and she’s certainly got the personality to do it!
