Thanks, that was an interesting link. And another reminder of the depth and quality of the reflection that the founders used in their deliberations.This note from Madison, written 30 years after the constitutional convention seems to say that he had argued for a requirement that one house of Congress should only represent property owners. However, 30 years later, with expanded suffrage, the feared theft hadn't occurred. Property: James Madison, Note to His Speech on the Right of Suffrage
Hmm, that's good in theory, but doesn't match my read of human behavior.His explanation seems to be upward mobility. Why should I vote to soak the rich if I expect to become the rich? IIRC, Tocqueville had the same observation (no reference).
1) People seem very focused on their present situation. The future? "I'll cross that bridge when I come to it,"
2) To the extent they do think about the potential of becoming wealthy, I think many people would say that if they were really flush they wouldn't mind paying a lot in taxes. So, they would vote for such taxes on "the rich." Of course, if they do end up with a high income, their perspective changes. It turns out virtually everyone in the US is already rich--in the view of the vast majority of living humans (or from the perspective of human history).
Kinda like those folks who say "80 years old? I'll be feeble and broken down, I hope I don't live that long!" But, somehow, almost all the 80 year olds are eager to draw breath for another year.
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