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Everybody always takes this argument to the extreme, as if it has to be a 0 or a 1, black or white, either people deserve the wealth that they created or they d
by csallen 11mo ago
Everybody always takes this argument to the extreme, as if it has to be a 0 or a 1, black or white, either people deserve the wealth that they created or they don't.
There is no such dichotomy.
On one hand, markets and incentives work. When people can earn and gain more, by providing more value to their fellow man, people do work more + smarter + better + provide more value to their fellow man. This is not speculative or just a theory, this is an actual fact that has been observed for hundreds of years across dozens of societies. This has nothing to do with some moral imperative about what people "deserve". It's just pure incentive -- it's better for society as a whole if you incentivize people to work and provide services, to create new technology, to complete engineering projects, etc etc. We absolutely should give people more money if they create more value.
On the flip side, of course these people aren't 100.000% responsible for their own success, and completely entitled to all the profits, or deserving of holding all the power in society. If you build a fortune in a capitalist, market-driven economy, that's almost certainly only possible because you are making good use of the economic and political "rails" that have been laid before you and that made this possible. For example, your country almost certainly has a police force and a military that can protect the safety of you and your business. It almost certainly has a judicial branch that have created legal frameworks to limit your liability and allow you to take entrepreneurial or scientific risks. Etc. Pretty much everybody agrees with this. Which is why every western country has a progressive taxation system that taxes the rich at higher rates than the poor or middle class. In the United States, for example, the top 1% of earners paid 40% of the nation's income tax.