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The economic and financial impact of Covid-19
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Great post by Americus.
I would say, it's just better to be rich than to not be rich. That's really the fundamental underpinning of free market capitalism. Rich people have advantages that other people don't have. That's why people want to be rich, and that's what drives people to work hard and save and invest, take risks, open businesses, create jobs, employ people, pay huge taxes, and support our collective standard of living. It's what has given us everything we have today- nice houses, cell phones, computers, nice cars- all because someone wanted to get rich. As for the growing gap between the rich and the poor, I have no problem with it as long as the the poor have a rising standard of living in spite of that growing gap. I think a lot of people on the left would just as soon everyone be poorer, as long as the gap between rich and poor is smaller. As for the quote about extreme poverty, I don't think we have extreme poverty in the United States. We have an extensive social safety net, actually mostly paid for by rich people. The top 1% pay more taxes than the bottom 90%. |
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