Bitter democrats love the idea of punishing success...........
Long article and kind of boring, but the point is that redistribution doesn't work......
Hillary Clinton launched her presidential campaign last spring by venturing from New York to Iowa to rail against income inequality and to propose new spending programs and higher taxes on the wealthy as remedies for it. She again emphasized these dual themes of inequality and redistribution in the “re-launch” of her campaign in June and in the campaign speeches she delivered over the course of the summer. Clinton’s campaign strategy has been interpreted as a concession to influential progressive spokesmen, such as Senators Elizabeth Warren and Bernie Sanders, who have loudly pressed these redistributionist themes for several years in response to the financial meltdown in 2008 and out of a longstanding wish to reverse the Reagan Revolution of the 1980s. In view of Clinton’s embrace of the progressive agenda, there can be little doubt that inequality, higher taxes, and proposals for new spending programs will be central themes in the Democratic presidential campaign in 2016.
The intellectual case for redistribution has been outlined in impressive detail in recent years by a phalanx of progressive economists, including Thomas Piketty, Joseph Stiglitz, and Paul Krugman, who have called for redistributive tax-and-spending policies to address the challenge of growing inequalities in income and wealth. Nobel Laureate Robert Solow, of the Manhattan Institute of Technology, put the matter bluntly last year in a debate with Harvard’s Gregory Mankiw, saying that he is in favor of dealing with inequality by “taking a dollar from a random rich person and giving it to a random poor person.”
Public-opinion polls over the years have consistently shown that voters overwhelmingly reject programs of redistribution in favor of policies designed to promote overall economic growth and job creation. More recent polls suggest that while voters are increasingly concerned about inequality and question the high salaries paid to executives and bankers, they nevertheless reject redistributive remedies such as higher taxes on the wealthy. While voters are worried about inequality, they are far more skeptical of the capacity of governments to do anything about it without making matters worse for everyone.
https://www.commentarymagazine.com/article/the-redistribution-fallacy/
Long article and kind of boring, but the point is that redistribution doesn't work......
Hillary Clinton launched her presidential campaign last spring by venturing from New York to Iowa to rail against income inequality and to propose new spending programs and higher taxes on the wealthy as remedies for it. She again emphasized these dual themes of inequality and redistribution in the “re-launch” of her campaign in June and in the campaign speeches she delivered over the course of the summer. Clinton’s campaign strategy has been interpreted as a concession to influential progressive spokesmen, such as Senators Elizabeth Warren and Bernie Sanders, who have loudly pressed these redistributionist themes for several years in response to the financial meltdown in 2008 and out of a longstanding wish to reverse the Reagan Revolution of the 1980s. In view of Clinton’s embrace of the progressive agenda, there can be little doubt that inequality, higher taxes, and proposals for new spending programs will be central themes in the Democratic presidential campaign in 2016.
The intellectual case for redistribution has been outlined in impressive detail in recent years by a phalanx of progressive economists, including Thomas Piketty, Joseph Stiglitz, and Paul Krugman, who have called for redistributive tax-and-spending policies to address the challenge of growing inequalities in income and wealth. Nobel Laureate Robert Solow, of the Manhattan Institute of Technology, put the matter bluntly last year in a debate with Harvard’s Gregory Mankiw, saying that he is in favor of dealing with inequality by “taking a dollar from a random rich person and giving it to a random poor person.”
Public-opinion polls over the years have consistently shown that voters overwhelmingly reject programs of redistribution in favor of policies designed to promote overall economic growth and job creation. More recent polls suggest that while voters are increasingly concerned about inequality and question the high salaries paid to executives and bankers, they nevertheless reject redistributive remedies such as higher taxes on the wealthy. While voters are worried about inequality, they are far more skeptical of the capacity of governments to do anything about it without making matters worse for everyone.
https://www.commentarymagazine.com/article/the-redistribution-fallacy/
