I am hoping to post here a bit more often after deciding to leave behind other social media distractions. My first commentary after a long absence is a hip, hip hooray for the Swiss who today, rejected in a referendum, the socialist aspiration of a guaranteed income for all. One can see the report of the historic event here:
Beyond the moral reprehensibility of this proposal – forcibly taking one’s handiwork and giving it to a complete stranger – it is not helpful to all involved. To those who take it encourages slough and to those whose wealth taken, the action of the state suppress their contributions to the overall economy. Remember, one with newly generated wealth will either attempt to grow that new abundance in some form of investment or spend it on some good or service provided by another member of the economy. Each of these acts are good for the economy. Rothbard states this eloquently and contrasts significantly with the great redistributor president Obama.
“The modern welfare state, highly touted as soaking the rich to subsidize the poor, does no such thing. In fact, soaking the rich would have disastrous effects, not just for the rich but for the poor and middle classes themselves. For it is the rich who provide a proportionately greater amount of saving, investment capital, entrepreneurial foresight, and financing of technological innovation that has brought the Unites States to by far the highest standard of living – for the mass of the people – of any country in history”. Murray Rothbard
“The trick is figuring out how do we structure government systems that pool resources and hence facilitate some [wealth] redistribution — because I actually believe in redistribution, at least at a certain level to make sure that everybody’s got a shot”. Barack Obama