TRANSFER OF WEALTH is the new hot term, popularized by the Left to explain why everyone is not prospering.
But it’s a great-sounding phrase that purports to explain why some people are more successful — sometimes flagrantly so — than others.
Wealthy people are rich because they stole money from the poor, or some pals “transferred” it to them.
First off, this notion is based on the false premise that a set amount of wealth exists, the “zero-sum” concept. If A gets richer, then B obviously grows poorer in the process.
This can be true. If Joe, with a NRA-approved Glock G21, pulls Moe into a dark alley and steals his wallet, then Joe has grown richer by transferring money from Moe.
But this is not how successful people get wealthy most of the time. Usually they do it because they are ambitious, intelligent, shrewd, patient, focused — and often lucky.
Poor people are usually poor because they lack one or more or all of those characteristics. Sometimes they are drunks and drug fiends too, none of which creates a good life.
Plus, do not discount just plain laziness.
(Note: I am referring to the Developed World, the traditional Land of Opportunity and Liberty. Other factors come into play in the Underdeveloped World.)
Okay, so you cannot name an individual or cabal that is doing this “transferring of wealth.” But that leaves one alternative, and it is the biggest wealth redistributor on the planet:
Democratic governments generally transfer wealth from the rich to the poor because there are more poor people, and they can vote. It is self-serving. Think Obama.
Non-democratic governments transfer wealth from the poor to the rich, which is to say the ne’er-do-wells grasping the reins of government. Think Somoza, Duvalier, Stroessner, etc.
People who decry “wealth transfer” these days ironically favor more government. They support guys like the old, wild-haired, irrational, openly socialist Bernie Sanders who wants up to a 90 percent tax rate on successful people.
Taxation is wealth transfer.
Since successful people are major job creators, taxing them into the soil is counterproductive. It slows economies and makes poor people even more poor. It is egregiously stupid.
People who support more government “transfer” of money are usually good-hearted folks. They mean well but are Utopians, out of touch with the reality of our flawed world.
If Americans are struggling financially these days — and many are — it’s due to bad government policies. It is no mysterious individual or group that’s “transferring” wealth.
So the Left actually supports “wealth transfer.” It just wants the transfer done according to its own rules. It wants to rob the successful to prop up the less-successful. It’s just “nice.”
The hard left of communism always fails (see Cuba, the Soviet Union, etc.) and the more moderate left of socialism, a softer touch, (see much of Europe) results in slogging economies.
Government can be good, but it must also be smart.
Wealth transfer belongs in the open marketplace where it’s a positive force. It’s called Capitalism.
Liberty and free markets make the best world, the best life for the most people. Sure, some will remain poor.
There’s no cure for that.
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(Note: The Left uses the term “transfer” because, to them, it is better than voicing the bald truth. Some people are far more successful at earning money than others. But this inequality of outcome doesn’t seem nice or “fair” to them.)
(Tip of the sombrero to Laurie La Gringa , who embraces “the Bern,” inspired this post.)