|
Post by John Liberty on Aug 29, 2013 4:09:42 GMT
Redistribution of wealth is simply the transfer of wealth, property or income from one individual to another. This redistribution is caused by some social mechanism, such as nationalization, charity, taxation, welfare or tort law. Typically the redistribution is progressive, referring to a transfer of wealth from the rich to the poor. Redistribution is sometimes regressive, however, referring to a transfer of wealth from the poor to the rich. The redistribution debate is widely controversial, with both sides arguing a number of different pros and cons for the redistribution of wealth.
Redistribution works against America's economic system of free capitalism. Government interference and calls for redistribution oppose the fundamental values of capitalism. Also, redistribution may take away from a society's growth opportunities. Redistribution may mean that the rich cannot start new businesses or hire new employees, and ends up hurting the economy.
Another argument against redistribution of wealth is that it may cause laziness. Those who are dependent upon the redistribution of wealth might become reluctant to do their fair share, as they no longer have to work in order to live. Redistribution is often considered bad because it is a form of forced charity. The wealthy might not choose to donate the money of their own accord, and are instead are forced to give up their money. The poor should only receive help from private groups that willingly help the poor, such as the Red Cross and the Salvation Army.
|
|