Progressives believe it is unjust for some people to amass huge fortunes because concentrated wealth causes more poverty in others.
But such an idea is absolutely false, and here’s why.
The potential to become wealthy motivates people to work harder, take risks, invent things and innovate — and that benefits everyone.
Thomas Edison and Henry Ford were two industrial giants who became fabulously rich from their innovations of the light bulb and automobile, which tremendously improved the lives of all people. It was the possibility of becoming super rich that inspired them to greater achievement.
The ultra-rich don’t hide their money in mattresses; they spend it on mansions, yachts, entertainment, fancy clothes, travel. Most importantly, they invest in businesses. All of this creates good jobs for many other people.
Moreover, most wealthy people give away large portions of their money to help the unfortunate and to fund worthy causes such as scientific research, universities and hospitals.
Wealthy achievers do a better job of choosing worthy causes to fund than politicians and bureaucrats, who often spend other people’s money foolishly. So wealthy people actually help eliminate poverty, not cause it.
If this draconian income policy of progressives was actually implemented, there would be exceedingly more poverty than now and the standard of living would drop for all.
Dave Majernik
Plum
The writer is vice chairman of the Republican Committee of Allegheny County.
