Post
Topic
Board Economics
Re: Enjoy comunism: Venezuela raises monthly minimum wage to $2.40
by
Poker Player
on 11/05/2021, 07:02:24 UTC
OK.. no need to write an essay. Let me summarize it - the billionaires in the United States own $4.4 trillion in wealth. The socialists want all that wealth to be seized and redistributed to the "poor" people. If you are living in a socialist utopia, then this is the perfect plan. But think for a moment for how long this $4.4 trillion is going to last. As per your own calculation, there are 40 million poor. Divide this $4.4 trillion by 40 million, and you will get $110,000. Now this may be enough for the poor to love comfortably for 2-3 years. After that, what you will do? Billionaires are gone. So you are going to target the millionaires? The cycle will go on until no rich people are left. Then what? From where you will steal once the rich people are gone?

Of course. We must also think that the US is more capitalist than Venezuela, of course, but it is not the paradigm of free market and absence of regulations.  There are many things I don't like there, and some of them have been mentioned by @dezoel, but communist style redistribution always ends in disaster. As I was saying in another thread:

It is the old idea that in a communist world everything would be wonderful, when the pure reality is that if all the wealth of the world were confiscated and distributed equally, the next day there would be rich and poor again, because some would save and invest and others would spend it all immediately on whores and drugs (to give extreme examples).

The only way to ensure "equality" would be, the day after, to confiscate again those who save and invest to give it to those who have spent it on whores and drugs.

And we would all live happily ever after.