Wednesday, September 25, 2024

Wealth creation and redistribution

 

People who want to redistribute wealth often misunderstand the nature and causes of wealth. Tangible wealth can be confiscated, but you cannot confiscate the knowledge which produced that wealth. Countries that confiscated the wealth of some groups and expelled them, destitute, have often seen the economy collapse, while the expelled people became prosperous again elsewhere.


People who are incapable of producing wealth—or unwilling to put in the necessary effort—often assume that wealth is never deserved. As a result, some countries confiscate the wealth of certain groups, expel them, or harbor resentment toward those who create wealth, attempting to hinder their progress—without realizing that the consequences will affect them as well. Sometimes wealth is undeserved, but many times it’s the result of hard work and benefits the community.

For the entire 20th century, the Republicans were the party of the wealthy. No longer. Democrats now dominate the upper-middle class and 1%, as the working class has flocked to the GOP. First it was Whites, but now Blacks and Latinos are joining them in MAGA.

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