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More InequalityLess Government
I’d eliminate poverty too, but capitalism already has. Shepherds and stable boys fare better materially than anyone except perhaps tax collectors when Christ came. The lingering poor are primarily recent immigrants or fresh graduates only beginning to savor the fruits of market bounty; people enslaved to addictions or those Washington pays to remain perpetually destitute.
You get what you incent.
Caesar continues taxing us onerously and decreeing silly burdens, but few Americans still ride donkeys or stay in mangers. The Wisemen’s gifts of gold, frankincense and myrrh are essentially jewelry, perfume and medicinal spices; all widely available. The lure of profit heralded this magnificent splendor even while embracing unequal riches.
Suppose someone cures cancer without surgery or chemotherapy’s nasty side-effects. Pop a pill and arise, health restored. We’d endure a decade of needless death before the FDA deigned clearance and the Justice Department would eviscerate them for monopolizing treatment, but such an advance might just furnish the first trillionaire.
Is this troubling?
Our monetary masters feverishly conspire to make trillions meaningless, but wealth stems from serving your fellow man. What if this fortune satisfied some lesser need? Only Malthusians argue against curing cancer, so assume this wildly successful entrepreneur invents some nifty widget instead.
Customers must still willingly vote him rich at the cash register perceiving his wares worth more than the money spent. Most must be pleased. Nobody so prospers without prodigious repeat business. Walter Williams calls profits “certificates of performance.” Those most responsible for the overall plenty soar highest, but everyone rises when markets are free to flourish.
Here’s hoping history’s first trillionaire climbs partly by me. Far from depriving others, wealth derives by serving your neighbors. Perhaps I’ll exploit whatever advantage he offers by buying and boosting his income. Maybe I’ll even get a job or invest in his wealth expanding achievement. Ludwig von Mises observed, “Inequality of wealth and incomes is the cause of the masses’ well-being, not the cause of anybody’s distress.”
Mr. Trillionaire won’t emerge without burnishing the lives of untold millions. If his treasure has anything whatsoever to do with you it’s very likely you benefitted as a customer, employee or investor. Otherwise, coveting his riches reflects mere jealousy.
While former Alinskyite community agitator Barack Obama pretends to be Santa promising voters generous Christmas gifts, his version of fairness isn’t free. Washington has no elves conjuring goodies. The elves are taxpayers being incrementally consigned to servitude. When governments play Santa for some, they must act the Grinch snatching property from others.
Via: Forbes
