There is no such thing as a free lunch. If you're not paying for it, someone is.
It seems in response to and in preparation for upcoming elections, a sizable faction of the Democratic Party have been gaining traction, offshooting from the success of Senator Bernie Sanders during the 2016 primary. They're the Democratic Socialists (of America), and the group is heavily in the spotlight recently due to congress-hopeful Alexandria Ocasio-Cortez unseating a Democratic incumbent in New York. Some proper party-on-party friendly fire.
President Trump have swung the Republican party so much towards the right fringe that the inevitable pendulum swing back left would naturally match it in severity. This explains the rise in popularity of the DSA platform, with promises of free health care, free higher education, and a decent wage for every worker. The platform’s emotional appeal is immense, a left-leaning equivalent of border security and ridding the country of illegals for Trump’s base.
It sure sounds good on paper, doesn’t it? Who would say no to job guarantees and free college?
Right, but then the age old question becomes: how are we going to pay for it? Indeed there are no free lunches. The obvious and sole avenue to acquire the money is to tax and tax a lot, especially the super rich. Because both parties can’t seem to cut spending ever, we can only resort to take from the rich to increase revenue.
It bears repeating: taxation is theft.
Do the wealthy have a moral responsibility to give back and take care of the poor? An argument can be made for the affirmative. However, agency and decision should reside with the individual, rather than compelled by government (i.e. tax). I think Bill Gates and Warren Buffett have done well to corral a hundred or so billionaires and millionaires to donate their wealth. The campus where I work at is full of buildings and wings made possible by generous donors (The Coppola family, to name one).
People say for a country as prosperous as the United States, it ought to have no issues in providing socialistic services. But think of how the United States become affluent in the first place. It certainly wasn’t socialism. It’s Capitalism, and we’d be careful to deviate from that at our peril.
Because how is Venezuela doing these days?
Currently reading: Ray Dalio's magnum opus.