Daily Archives: November 20, 2022

Is Socialism “Steal from the Rich, Give to the poor?”

Someone posted on Quora: Is socialism actually just “steal from the rich, give to the poor”?

My answer: In theory, yes. In practice, it’s actually “steal from the middle class and give to the poor and rich”, thus the concept of the “disappearing middle class”. The middle class do the most of the giving (dollar wise) but the least receiving. Thus people in the lower-middle class get pushed into the lower class.

The rich? Through various corporate welfare schemes and government contracts that favor corporations, they receive money.

The poor simultaneously receive money from government programs AND get the shaft. The shaft the poor receive is inflation. Most these socialism programs aren’t funded by “taxing the [evil] rich” as their socialist architects envision, but rather by the US Government “borrowing” money from the US Federal Reserve (or in other places of the world the government borrows from their central bank). The net effect of this “borrowing” is printing money. This printed money increases (inflates) the monetary supply, meaning more money is chasing after the same amount of goods/services, which causes prices to go up. This price inflation disproportionately affects the lower class (who has less “disposable income”), but also puts the squeeze on the middle class, especially the lower middle class.

I (Phillip Hofmeister, libertarian and near anarcho-capitalist) have much more respect for a rich socialist than a poor socialist.  The rich socialist knows they stand to give something up for their believes.  The poor socialist is just a whiner who is complaining they aren’t getting what they “deserve” in life (often because their own poor choices, habits, decisions, and work ethic).  They are worse than a street bum.  At least the street bum isn’t trying to use the government to steal other people’s money for their benefit.

What are your thoughts?  I look forward to your comments.

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