Saturday, March 31, 2018

Equal

Stockton, CA is city that was hit hard by the sub housing market problems of ten years ago and it became the largest city to file bankruptcy. As the economy turned down the crime rate went up and in 2014 there were 71 homicides in a city of 300,000. In Chicago the murder rate is 29 per 100,000. The city is now testing a proposal to give $500 per month to each of its 75,000 poor people. This will cost $450 million dollars per year. While that is a lot of money, Jeff Bezos recently sold one percent of his Amazon stock for $670 million dollars, and he might consider selling another one percent to help out the people in Stockton. Bezos started building Amazon 22 years ago and for the first 12 years the stock did nothing. Since then the stock has grown to where Bezos is now worth over $100 billion dollars. Bezos is not alone. There are numerous examples of young men who had the tech savvy and put in the hard work to become billionaires before age 30. Some people feel that there is something inherently wrong with what they see as unfairness but in the free market system if you can do something that hardly anyone else can do you get a lot of money for doing. If you can throw a baseball over the plate at 100 miles an hour, you get a lot of money. Some people feel that the government should place income limits on people. Remember what George Orwell said in Animal Farm. In socialism everyone is equal but some are more equal than others. In the former Soviet Union there were 300 million people but only 20 million belong to the communist party. They were the more equal.

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