Wednesday, December 11, 2013

LAD #21

Carnegie's Gospel of Wealth

  • his wealth was based mostly on steel and iron for railroads and railways
  • also based on his ambition
    • believed that the rich had a responsibility to give back to the community
    • said that there were three ways to give wealth back
      • give it to your relatives after you are dead
      • leave it to a charity foundation/organization in your will
      • give it away to society during your lifetime
    • believed the third option was the best, so he supported death taxes 
      • the government takes a large share of your estate after you die to encourage you to give away the money before death


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