Poor reading of American capitalism
- Rarely does one hear about upward redistribution, whereby a few cents taken from everyone make a few individuals very rich indeed. Worse, the 2020 US election all but ensures that this 'trickle-up' dynamic will continue
- American capitalism’s potential to foster innovation and well-being remains unlimited, but its flaws are literally draining the life from many Americans
Those who advocate taxing the rich to give to the poor often must endure wearied explanations of why such redistribution is a pointless policy. While the rich are indeed rich, there are supposedly too few of them to tax on a scale that would help the poor.
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