Thursday, May 22, 2008

The Robin Hood Theory

In India, 21% people are below poverty line and the population of those who can’t even earn bread for their family, twice daily, is comparable. Merely a 45% people would be self efficient, 20% of which can be called rich…
Here I want to discuss another citation from the book Rich Dad Poor Dad. During our schooldays, we heard stories of the romantic hero, Robin Hood, who robbed from the rich and gave it to the poor. Is it mandatory for the rich to feed the poor? Is it a crime to be rich? If not, then why do we find people saying that rich should pay more taxes, which can benefit the poor.
This is probably what is happening in countries which boast to be developed, because no one sleeps hungry. A set amount is paid as a reward to those who are unemployed and they are sent to some poor country where they can afford a healthy living. And sometimes this amount exceeds the wages of an employee. The result is pretty obvious. The employed also prefers to sit idle and have a delicious meal with a beer every time instead of having a dry loaf of bread twice, or seldom, once, daily. Such an idea is encouraging unemployment in the developed countries.
A better idea can be to lend some amount of money to such people with minimum rate of interest, so that they can get into a business. And more amount can be lent, if they hold assets equivalent to the double of previously lent amount. This way, their assets can be mortgaged and they will be encouraged to work harder and earn more, instead of relying on the government and blaming the rich. So people! Please suit yourself…

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