Inequality and wealth redistribution

[Canard DuJour]

Wealth distribution only works as long as there is enough of other people's money to give away.

No, it can work if there isn't. Govt's with sovereign fiat currencies can create money from nothing and give it to the intended beneficiaries. There'll probably some inflation (assuming the new money finds its way into the real economy), no less stuff to buy, and ability to buy it redistributed.

That's why people who charge rent on their money don't like it and want you to think wealth redistribution only works as long as there's enough of other peoples' money to give away.

 

[DBT]

Wealth distribution only works as long as there is enough of other people's money to give away.

Nailed it. The advocates are always those who think they would be the recipients, not the donors.

The philanthropic-minded wealthy give it to causes they consider worthy, they don't support redistribution.

Not necessarily give money away, just a fairer ratio between the highest incomes and the lowest. The gap between the rich and the poor, as it now stands, is far too wide. It looks more like a vast chasm.

 

[arkirk]

Nailed it. The advocates are always those who think they would be the recipients, not the donors.

The philanthropic-minded wealthy give it to causes they consider worthy, they don't support redistribution.

Not necessarily give money away, just a fairer ratio between the highest incomes and the lowest. The gap between the rich and the poor, as it now stands, is far too wide. It looks more like a vast chasm.

People make a big thing of this wealth redistribution idea, treating it like it is a sudden one time thing. We have been experiencing wealth redistribution under our current system today. That is how things got out of whack. The reason the system is running down is that the poor have nothing more to yield to the rich. The vast majority of the nation's wealth has been and is still being redistributed to the rich. We have a government dominated and populated by millionaires and we close our eyes to this fact. Capitalism has done a very efficient job of accomplishing this redistribution and the beneficiaries of this redistribution of our wealth actually have the gall to assert they "earned it."

We have laws against possession of certain things like drugs, explosives, and poisons, We failed to make laws against the possession of too much money and allow redistribution in the wrong direction to occur regularly. Always when one of these redistributions runs out of steam, we have a "crisis" and our society is beset with austerity proposals from the rich, so they can cling to as much of their gains as possible. We then get tirades against the "evils of socialism" from the media that are owned by the rich. We hear that government redistribution of wealth is robbery and taking property from its rightful owners.

Once you have lived through a few bubble cycles, you begin to see that our economic and political systems, while they work quite well for the rich, is broken for the common man and delivers minimal services to society in general.