Saturday, January 26, 2019

Free stuff

Why does socialism have such strong appeal. Because socialism offers people what appears to be immediate gratification--the promise of free this or free that, or of security from some perceived risk or harm or deprivation. It also represents fairness in the minds of many. While most oppose it as an economic theory there is a point where the gap between those at the very top and the rest becomes unacceptable. The benefits that the super rich bring to society are overlooked just because they are too too rich. For example 25 years ago Jeff Bezos was just like any other American and he started Amazon and now he is worth $140 billion dollars but is money is mostly in stock. The rich either invest the money, spend the money or save the money all three of which helps the economy grow. His investing has brought a great service to all Americans not to mention the 660,000 jobs created. Walmart was created by a small businessman and today his family is worth $90 billion but once again that is invested in stock and helps to provide jobs for over 2 million people in the United States. The number of jobs created by Bill Gates is hard to determine but it is in the millions. Some economist say that the harm brought to the rich by taxation is not as great as the harm brought to those who receive something for nothing. This is too subjective to quantify but it represents one view.

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