5 ms·

shhh. redistribution of wealth is the solution. let’s raise some more taxes while we’re at it

• simonh 7y ago
  Taxes are a hot button issue for sure. I don't think redistribution of existing wealth is the real answer. What we need is an economic model with a fairer distribution of economic rewards in the first place. That doesn't mean socialism or anything like it, nor does it mean basic income. Socialists always seem to reach for brute force policy blunt instruments to bash economies into the shape they desire, which never work and do huge damage in the process. I am becoming more and more convinced that there's a heavy squeeze crushing the middle class in the west though, and similar forces are trapping a lot of people in developing countries in an economic no-man's land just above the most miserable levels of poverty but below anything we would consider acceptable. Capitalism is a fantastic engine for growth, it's the best tool for improving people's lives we have, but we'll always need to make calibration adjustments to suit the circumstances. I think the right criteria for policy should be a balance between fairness and effectiveness. An equitable distribution of political and economic power and opportunity, consistent with a well functioning economy.