the rich should live simply, so that the poor can simply live?

[astarmathsandphysics]

Many banks in the west got too big frankly. Many of them had loan books and liabilitiesthat were bigger than their countries entire output.

[~cornelia~]

Many banks in the west got too big frankly. Many of them had loan books and liabilitiesthat were bigger than their countries entire output.

wouldn't that be problematic for the country?
how have the survived on loss so far?

[astarmathsandphysics]

big problem for many coutries- Iceland and Irland.
Not for Greece though. They are just liars and lazy and don't want to waork.

[~cornelia~]

i heard greece was thriving well,

and Relative to the size of its economy, Iceland’s banking collapse is the largest suffered by any country in economic history.

[astarmathsandphysics]

But Iceland is not bankrupt like Greece.
The Greeks are just lazy, who lied to the world about how much they were borrowing so they could borrow more.

[........]

Your teacher's a socialist . Sad. There should be no taxes on rich people. Period.

[~cornelia~]

But Iceland is not bankrupt like Greece.
The Greeks are just lazy, who lied to the world about how much they were borrowing so they could borrow more.

the biggest financial crisis in history...and iceland is not bankrupt??
yes what you say about greece is true...its economy is falling rapidly!

Your teacher's a socialist . Sad. There should be no taxes on rich people. Period.

why would you say that?? she just asked a question..she didnt express any opinion.
i dont think so! without taxes...there would be unequal distribution of money..n government will have even less money to improve the country..eventually the country will be poor and so will the former rich people.

[astarmathsandphysics]

There will be taxes on rich people full stop.
The governerment can tax them, or they can be 'taxed' by poor people at the point of a knife or a gun as they walk the streets.

[~cornelia~]

^yup
government helps people to avoid thievery and murders etc!

[........]

the biggest financial crisis in history...and iceland is not bankrupt??
yes what you say about greece is true...its economy is falling rapidly!
why would you say that?? she just asked a question..she didnt express any opinion.
i dont think so! without taxes...there would be unequal distribution of money..n government will have even less money to improve the country..eventually the country will be poor and so will the former rich people.

What happens if this occurs in a developing country like Bangladesh ? where rich people are not that rich and if you put taxes on them you would lose a vital form of investment.

This type of socialism can only occur in countries like United States and France

[astarmathsandphysics]

Even in a poor country like bangladesh, the poorest people can borrow money, invest, pay taxes and vote a govenment out.

[~cornelia~]

What happens if this occurs in a developing country like Bangladesh ? where rich people are not that rich and if you put taxes on them you would lose a vital form of investment.

This type of socialism can only occur in countries like United States and France

that's the point of progressive taxation!! when the cross a limit of earning then only the government should tax them...

although your point is correct, but every government has to find a way to make income so as to help its country. money doesn't grow on trees!

[astarmathsandphysics]

money doesn't grow on trees!

Put the right genes in and it might.