Alexis people that inherit money are more likely spend

Alexis Ansley Ms. ThompsonMicro Essay January 15, 2018 Gospel of Wealth Andrew Carnegie wrote “Gospel of Wealth” in 1889, he bases his assumptions that wealthy people have the responsibility to play a role in philanthropic endeavors to alleviate excess wealth regarding wealth inequality. His ideas were new and fresh, Carnegie is accurate in regarding the law of competition being inevitable because the strive is essential for the progress of race. One of the assertions that Carnegie makes is that there two different kinds of wealthy people. There is the person who acquires wealth through hard work and dedication, and states that this is the best type of person because they attain the appreciation of money. On the other hand, he says people that inherit money are more likely spend their money, excessively on wasteful items. This assumption strengthens his claim about the law of competition because of the strive of people to gain wealth and have appreciation for the value of money. Another point that Carnegie makes is that society can benefit more from the wealth of  the wealthy class in another way besides giving it to the state. He expresses his contempt regarding this issue in the idea of spending capital carelessness on meaningless things. He specifies that when the wealthy decides to give money away, it shouldn’t be on unworthy people who would just spend it on indulgences. He believed that his wealth should be shared among other people because he thought that was how he gained his money.  He states, “No man becomes rich unless he enriches others.” This argument promotes the idea of wealth equality for those who are willing to give their dedication to be successful. One more assumption he makes is the benefit of taxing excessively on large estates. He considered someone who has a large estate has failed society by ignoring their responsibility to spread their wealth. Therefore, he thought that the State has the right to implicate a higher taxes because they failed in their responsibility. Carnegie mentions that is the wealthy were to distribute their money evenly then there would be no bother over high taxes on estates. This leads to the recompense at the gates of Paradise for doing what is right. “If you want to be happy, set a goal that commands your thoughts, liberates your energy, and inspires your hopes.” Carnegie quotes. He wanted to emphasize on the law of competition, so that people will in return want to strive to become successful.