I’ve never understood what that phrase really means. There is never an explanation on how to do it.
Republicans of course automatically assume the extreme which is that the wealth would be radically distributed among the entire population which would eliminate the wealthy class of America and thus end capitalism as we know it. However, no prominent progressive has EVER suggested this. The issue on the left is the rising inequality between the middle class and wealthy class. We aren’t suggesting some naive, theoretical utopia where everyone lives off the same wealth regardless of their contribution to society and lives happily ever after. Republicans just assume that’s what lefties mean when we talk about wealth inequality because it makes for a convenient argument. It makes dismissing the leftwing ideology easy.
Of course, what lefties actually want to do is simply narrow the gap so that anyone working 40 hours a week doesn’t have to live in poverty. That’s it. That’s all lefties care about. In this current economy, that is impossible for 10s of millions of people. Why is that impossible? Because the top 3 richest people in the country own more wealth than the bottom 50% of workers.
Again, I’ll admit I don’t know how it should be done, but it needs to be done. Radical change is necessary. The last time someone could comfortably live off $10 per hour was in the 1960’s.
Ok, here’s the problem with wealth redistribution. It is never going to be enough, and as the name progressive suggests, the ball needs to keep moving forward. So whatever redistribution policy is put into place today, will be thoroughly insufficient to the progressives 2 or so years later, and even more redistribution will be called upon. How does the right know this, it’s whats been happening for the past 50 or so years. What the right sees is that government spending is wildly out of control and incredibly ineffective. In the 2016 fiscal year alone, the federal government lost track of 1 trillion dollars, a full 1/3 of what they bring in annually through taxes, and over 5% of the entire national GDP. So essiently the entire worth of the wealthiest company in human history, Apple, vanished in a single year. This “misspent” money isn’t even taking into consideration wasteful spending on things like clown colleges in argentina, or how government operations get rewarded with money thrown at them for underproducing. Let’s also not forget about the unecassarily bloated administration departments in government that demand money to make government run even more inefficiently than it already is. Government certainly has its place and operations it should be in charge of, but it’s like a tapeworm. Food (money) goes in, the body (the people) get some nutrients from the food, but the tapeworm is in there gobbling it up and continuously growing.
Wealth inequality is not going to be solved by redistribution. It never will. No system ever will. It’s the Predo principle, and it’s literally universal not only in wealth, but in the mass of stars, trees, music composers, movie stars, etc. The system that does the best at making sure that there a lot more rich people, and less poor, many who have a an attainable ladder up, is the free markets coupled with a small government. Look at the US, wealthiest country ever in human history, look at Switzerland, top 3 in every category you can think of. The goal should be to make sure the Forrest gets bigger, not to cut down the taller trees to make them closer in size to the shorter ones. The goal is a more diverse economy, with an incredibly wide array of careers and various different paths to make money and build wealth. Redistribution does not do this. Redistribution is a patron at a bar complaining to the bartender that the guy next to them got more ounces of beer in their glass than they did. So the bartender takes the other guys glass, drinks a couple ounces, and then poors an ounce into the complainers glass, and says ta-da, I just brewed more beer, when in reality that was a net loss of beer.
This is not worship of the rich, the simple truth is the rich are the ones with the capital they can afford to risk investing. And when a successful investment is made, more jobs are inevitably created in one way or another. Trickle down economics does work, however, there are cases where it is extremely effective, and some where the effects are minimal. It can be very effective when the rich are having the bejezus taxed out of them, and you lower taxes for them, and now that rich guy says “finally, I can afford to build that strip mall.” That strip mall gets built, and the weird lady opens up a holistic medicine shop selling crystals and healing magnets to people. The Mexican family rents out the one area in the strip mall to build their restaurant and make orgasmic food. Where trickle down economics isn’t as effective is when taxes are relatively low for the rich, it still helps, but what would’ve been better would be to lower taxes for the lower and middle class. Now they can splurge and buy the special super secret moon material crystal, making the weird lady happy, as well as the rich guy she pays rent too. That family down the road can now afford to splurge on going out to dinner more often making the Mexican family happy, and thus the guy they’re paying rent too.
I feel like what would’ve been better than the recent corporate tax cuts would be cutting more taxes for the lower and middle class. I think the corporate tax cuts did help, just not as much as the alternative. First thing is first though, we need to cut down on government spending and government inefficiency, drastically.