Wealth Is A Product Or A Service.

Despite all of the amazing technology that we have been able to accumulate in the world, we are living in the dark ages in terms of understanding basic economic realities.  Barack Obama believes that it is good for our federal government to “spread the wealth around,” but I don’t think most people understand exactly what wealth really is in order to be able to spread it around effectively.  I always hear people say that we need to bring back the gold standard but I wonder if these people understand that when gold is used as a monetary standard that it is not wealth, but instead it is a representation of wealth.  Gold is only wealth when it is a product or a service that somebody wants to have.  So when gold is being used as a monetary medium, then it is not really wealth any more than a piece of paper with George Washington’s picture on it is wealth.  A dollar bill is worthless unless everybody exchanging the dollar bill agrees that the dollar represents wealth.  The actual wealth is a product or a service that is being accepted in exchange for the dollar bill.  People think that a person who has Billions of dollar bills is “Wealthy”, but this is not true.  A person with Billions of dollar bills is potentially wealthy, but this person will not have actually received this wealth until he or she exchanges the billions of worthless pieces of paper for the actual wealth which is products or services.  This is why it is absolutely moronic to tax a person for owning pieces of paper that only represent protential wealth.  A person should not be taxed until they actually obtain the product or the service.  This is why the only reasonable tax is a National Retail Sales Tax, such as the Fair Tax, which does not tax a person for obtaining monetary leverage, but instead only taxes a person for actually obtaining a product or a service.  There are a lot of rich people who don’t want to spend their money, but that is fine because rich people have kids who will be more than happy to spend a large percentage of the monetary leverage in exchange for products and services as soon as they can get their lazy rich kid hands onto their parents hard earned money.