Those promoting Socialism want to add new taxes on the existing assets and incomes of wealthy people. This, so they say, is to help the “Have-nots” by adding more give-away programs, with the goal of making all people financially equal. But this also makes a nation poorer and the people more dependent on the government.
This also runs counter to human nature robbing us of our freedoms of choice. Most people do not want to all be in the same financial place. Rich people do not want to be poor, and poor people do not want to be rich. While this may sound crazy to some, consider that the road to either end of the financial spectrum is well known. But people are where they are, or working to get there, because that is where they want to be — their comfort zone. This is not about people that are handicapped in some way, or blindsided by one of life’s setbacks, as we all have experienced to various degrees.
Simply put, spending many years getting a higher education in the right field, or working two jobs while skimping and saving to invest wisely, will most likely lead one up the ladder. On the other hand, living a life of drugs and crime will most likely lead one down the ladder.
For example, I could have become very rich – or maybe just partially rich given the unknown factors in life. But, the reason I’m not rich is because I was not willing to make the tradeoffs needed to get there.
I made the choice to follow the paths in life that suited me the best. That included enough money to live financially comfortable while doing most of the other things that I wanted to accomplish.
This wide general area, where most people in a free society find a balance, is called the middle class. For some, money is more important so they work harder to achieve that. Others, wanting more free time with fewer responsibilities may find that living under a bridge makes more sense to them.
I find that when questioning older/retired people about their life, they overwhelmingly say they are generally happy with their life choices and are where they want to be. Younger people are generally not where they want to be because they are still trying to achieve their goals, or comfort zone.
Examples abound where one is artificially/unexpectedly moved outside of their financial comfort zone. Then within a reasonably short period of time they are found migrating back toward where they were.
People who are free to make their own choices in life will naturally incorporate a wide spectrum of wealth and do not want the government to force them outside of their comfort zone.