Tuesday, September 10, 2019

Wealth and fairness

The people who were center left have moved further left and the center is now shifted as seen in the popularity of the trend toward what used to be called socialist ideas. The impetus as always is the wealth gap. The promise to take money from the rich and give it to the poor is an alluring concept. The idea that these elites got their riches through nefarious means is promoted by some groups and this makes it more palatable to the point where many are okay with a wealth tax. The guiding principal behind this new form of economics called Modern Monetary Theory is fairness. If the country can spend trillions on endless undeclared wars, more trillions on quantitative easing to save the economy and trillions on the war on poverty while a select few become billionaires, then spending to spread the wealth around should be acceptable. It seems that they is a limitless supply of money and everyone should get their fair share. What's wrong with that? Sounds like utopia.

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