Wednesday, December 31, 2014
The idea of cutting taxes on the rich, so they will have more money, so they will ‘create jobs’ and hire more people, is nonsense. Why would they hire more people, to make money, when they already get the money with the tax cuts? And why would they hire anybody, if the people have no money, and are already in debt? If the people have no money, they can’t buy anything. (O, sure, they could go deeper in debt.) So the rich can’t sell the people anything, so there is no reason to hire anyone to sell them anything, nor is there any reason to hire anyone to make anything to sell.
What can you rely on the rich to do? You can rely on the rich to try and take money from other people.
So the way to get the rich to hire someone is to get the money to the people. Then the rich will hire that someone to take that money from the people. The rich will hire someone to make things, and others sell those things to the people, to get their money.
But getting money to the people is inflationary, you say. Well, take the money from the rich in the first place. Tax the rich. Tax the rich more.
Letting the rich have all the wealth is not in anyone's interest, not even the interests of the rich themselves. With the rich having all the wealth, the interests of the people and the rich diverge. No longer is the promise of advancement plausible to the people. No longer do the people see the benefits to contributing to a society which has taken everything they had, and left them effective slaves. Only compulsion will continue to secure their grudging labor, and this will not be enough to sustain the commonwealth, which is itself the foundation of all private wealth. And without its foundation, private wealth will dissolve.
The rich have more power when they are less wealthy, for then their society is richer, and more powerful, and they can protect, and project, their interests into the world more fully.