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The Fallacy of Wealth Redistribution (Thomas Sowell)
Newsmax.com ^ | 9/24/2012 | Thomas Sowell

Posted on 09/24/2012 9:08:05 AM PDT by RoosterRedux

The recently discovered tape on which Barack Obama said back in 1998 that he believes in redistribution is not really news. He said the same thing to Joe the Plumber four years ago. But the surfacing of this tape may serve a useful purpose if it gets people to thinking about what the consequences of redistribution are.

Those who talk glibly about redistribution often act as if people are just inert objects that can be placed here and there, like pieces on a chess board, to carry out some grand design. But if human beings have their own responses to government policies, then we cannot blithely assume that government policies will have the effect intended.

The history of the 20th century is full of examples of countries that set out to redistribute wealth and ended up redistributing poverty. The communist nations were a classic example, but by no means the only example.

In theory, confiscating the wealth of the more successful people ought to make the rest of the society more prosperous. But when the Soviet Union confiscated the wealth of successful farmers, food became scarce. As many people died of starvation under Stalin in the 1930s as died in Hitler's Holocaust in the 1940s.

How can that be? It is not complicated. You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth — and that future wealth is less likely to be produced when people see that it is going to be confiscated.

(Excerpt) Read more at newsmax.com ...


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1 posted on 09/24/2012 9:08:09 AM PDT by RoosterRedux
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To: RoosterRedux

“Redistribution of wealth will work if only the right people are in charge this time!”

That’s what the left will say to this.


2 posted on 09/24/2012 9:41:04 AM PDT by MeganC (The Cinemark theatre in Aurora, CO is a 'Gun Free Zone'. Spread the word.)
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To: RoosterRedux
You cannot confiscate future wealth...

Thats the goose!

3 posted on 09/24/2012 9:41:48 AM PDT by jonno (Having an opinion is not the same as having the answer...)
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To: RoosterRedux


4 posted on 09/24/2012 10:26:39 AM PDT by Grampa Dave (We are the 53%, who pay taxes and keep this country going inspite of the 47% rat moochers!)
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To: RoosterRedux
If the redistributionists were serious, what they would want to distribute is the ability to fish, or to be productive in other ways. Knowledge is one of the few things that can be distributed to people without reducing the amount held by others.

The Left has even managed to screw up this idea by taking over the institutions of higher learning.

Send your kid to a University and you can almost guarantee that that child will return to you a redistributionist.

Your only hope today is to send your child to a trade school or community college. Even then you had better keep tabs on what they are teaching at the school.

5 posted on 09/24/2012 11:39:58 AM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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