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Gus Van Horn blog

Reblogged:Equality of Outcome vs. Innovation

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In case anyone was wondering...

No: The recent revelations about Bernie "Millionaires and Billionaires -- I mean Billionaires" Sanders's income haven't helped any prominent leftists see that having more income than someone else isn't a sign of moral turpitude. It's just caused them to imagine that they should impose a national ceiling on income, which they will foist on the public as "free money" for the majority:

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And for the women, once you bypass the glass ceiling, you'll have an income ceiling waiting for you. (Image by Franck V., via Unsplash, license.)
Not only are millionaires less blameworthy for inequality than billionaires, I'd go even further: A reasonable long-term goal of public policy would be to create fewer billionaires and more millionaires. Where would the additional millionaires come from? Some would come from above, as billion dollar fortunes would be taxed and economic structures reformed. Entrepreneurs would still be amply rewarded for ingenuity and risk-taking, but those rewards would come with two commas, not three. A suitable motto for Elizabeth Warren's proposed wealth tax -- and for the new wave of democratic socialists -- might be, "What if all the billionaires became just multimillionaires?" which is hardly a revolutionary chant. [bold added]
Setting aside my usual objection to such proposals as based on theft, get a load of the cluelessness and the presumption here. Who rewards entrepreneurs? Their paying customers. And who the hell is Elizabeth Warren or the fools at Vox to decide how much is "enough" for an individual earning money from such transactions?

I hope I am not alone in feeling deeply insulted by the very idea. And that's on top of the real obscenity, which is the injustice of telling the next Steve Jobs or Jeff Bezos: "Want to improve lives in win-win transactions? Great, but past a certain point, you'll have to do it for free."

-- CAV

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