Fighting income inequality might seem like a worthy goal, however, the ability of people to profit from their labor or investment has always been a hallmark of a free society. Whenever politicians have conquered income inequality, the results have uniformly been the “income equality” of universal poverty . . .
When the Soviets collectivized the productive farms of Ukraine to institute income equality, the farmers felt like they had been returned to serfdom after they were forced to work land they did not own, receiving no rewards for their backbreaking work. Grain production fell precipitously leading to famine, with an estimated six million deaths from starvation. The same happened in China following Mao’s Great Leap Forward, with starvation death estimates between 18-42 million.
To those unfamiliar with history, redistributing money taken from the wealthy might seem like an easy path to prosperity… [I]n China, Russia, and North Korea they believed in income equality so fiercely they fought and died to implement it, and their descendants starved and died because of it.
We must be careful what we ask for.
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