DGS49
Diamond Member
As the True Leftists (Socialists) take over the Democrat Party we hear more and more about "fighting inequality."
It is disturbing in the extreme that so much of the Media, Academe, and the political class allow this nonsense to be perpetuated without objection.
There is nothing "wrong" with economic inequality, or the inevitable fact that economic inequality is constantly increasing.
Inequality increases in EVERYTHING. The difference between those at the bottom (whose level is generally static) and those at the top, who are improving over time, will always increase, whether you are talking about asset accumulation, skill at sports or arts, extent of learning, or what have you.
In economics, our technology advances enhance the ability of entrepreneurs, investors, and managing executives to maximize their earnings. Hence the earnings (and asset accumulation) of those at the top is always increasing. So what? What perverse manipulator would want to stop that natural phenomenon from occurring, or even slow it down?
And in our economy, money is made and wealth is accumulated according to VOLUNTARY TRANSACTIONS, in which both parties see a benefit in the exchange. It costs Microsoft next to nothing to produce yet another copy of Microsoft Office software, but huge numbers of customers are willing to plunk down a couple hundred of their hard-earned dollars to buy it. When Donald Trump builds a luxury resort, he doesn't force people to pay $500 a night to stay there; they do so voluntarily.
UNLESS WEALTH OR EARNINGS ARE ACCUMULATED BY THEFT, then there is nothing wrong with it, and there is no point in discouraging it or fretting over it.
POVERTY IS A REAL PROBLEM, and all sides of the political spectrum could agree that it is a problem, and try to fight it. There are huge differences in politics over the best way to fight poverty, but everyone agrees that it is something to be fought against. The political "Right" believes that increasing prosperity is the way to fight poverty. Encourage entrepreneurship, support research & development, promote economically-valuable education, implement tax policies that encourage investment in new factories, service centers, and so on. The political "Left" seems to believe that Government should step in directly to alleviate poverty (provide money, shelter, food, health care through government programs), and pay for these initiatives by taxing those who are economically successful. For Constitutional, logical, and economic reasons, I disagree, but that's not the point. We ALL agree that minimizing poverty (however it is defined) is something to be worked on.
The very idea that "inequality" - or increasing inequality - is a problem is insidious. It implies that some people make TOO MUCH or that the have TOO MUCH. Again, we have laws against theft, fraud, and all manner of evil confiscation of money and wealth, but to simply say that some people have too much is just nonsense. And to be specific, it is Socialist nonsense, which has been proven economic folly for more than a hundred years. Where are the "successful" socialist countries? The places where Government ensures that no one is living in poverty? They are on the ash-heap of history. The Soviet Union. North Korea. East Germany. Cuba. And now Venezuela, where we can see it happening before our eyes, in Real Time.
Politicians and political activists who rail on about "inequality" are either stupid, mis-informed, or dishonest.
It is disturbing in the extreme that so much of the Media, Academe, and the political class allow this nonsense to be perpetuated without objection.
There is nothing "wrong" with economic inequality, or the inevitable fact that economic inequality is constantly increasing.
Inequality increases in EVERYTHING. The difference between those at the bottom (whose level is generally static) and those at the top, who are improving over time, will always increase, whether you are talking about asset accumulation, skill at sports or arts, extent of learning, or what have you.
In economics, our technology advances enhance the ability of entrepreneurs, investors, and managing executives to maximize their earnings. Hence the earnings (and asset accumulation) of those at the top is always increasing. So what? What perverse manipulator would want to stop that natural phenomenon from occurring, or even slow it down?
And in our economy, money is made and wealth is accumulated according to VOLUNTARY TRANSACTIONS, in which both parties see a benefit in the exchange. It costs Microsoft next to nothing to produce yet another copy of Microsoft Office software, but huge numbers of customers are willing to plunk down a couple hundred of their hard-earned dollars to buy it. When Donald Trump builds a luxury resort, he doesn't force people to pay $500 a night to stay there; they do so voluntarily.
UNLESS WEALTH OR EARNINGS ARE ACCUMULATED BY THEFT, then there is nothing wrong with it, and there is no point in discouraging it or fretting over it.
POVERTY IS A REAL PROBLEM, and all sides of the political spectrum could agree that it is a problem, and try to fight it. There are huge differences in politics over the best way to fight poverty, but everyone agrees that it is something to be fought against. The political "Right" believes that increasing prosperity is the way to fight poverty. Encourage entrepreneurship, support research & development, promote economically-valuable education, implement tax policies that encourage investment in new factories, service centers, and so on. The political "Left" seems to believe that Government should step in directly to alleviate poverty (provide money, shelter, food, health care through government programs), and pay for these initiatives by taxing those who are economically successful. For Constitutional, logical, and economic reasons, I disagree, but that's not the point. We ALL agree that minimizing poverty (however it is defined) is something to be worked on.
The very idea that "inequality" - or increasing inequality - is a problem is insidious. It implies that some people make TOO MUCH or that the have TOO MUCH. Again, we have laws against theft, fraud, and all manner of evil confiscation of money and wealth, but to simply say that some people have too much is just nonsense. And to be specific, it is Socialist nonsense, which has been proven economic folly for more than a hundred years. Where are the "successful" socialist countries? The places where Government ensures that no one is living in poverty? They are on the ash-heap of history. The Soviet Union. North Korea. East Germany. Cuba. And now Venezuela, where we can see it happening before our eyes, in Real Time.
Politicians and political activists who rail on about "inequality" are either stupid, mis-informed, or dishonest.