A Solution to Poverty in America

[Rota]

3) A bad solution

The first and most obvious fix is the Robin Hood plan. Simply, tax the rich to shrink their wealth and give that money to the poor, to increase their wealth. This can’t happen. First, the rich will buy power in the government and never let this happen. This will breed animosity amongst the wealthy. If the taxes reach an extreme, they will just leave the country and go somewhere with lower taxes.

A big problem with the tax solution is the buying power I mentioned before. If the taxes on income are jacked up, then the billionaires, that don’t work aren’t really affected. If you increase estate and cap gains taxes, then your not affecting the Wall Street executives getting 20-30 million dollar bonuses annually. If the taxes are raised on wealth and income greatly, then it will be seen as waging war on the rich. Where is the incentive for success?

The bottom line is that the Robin Hood plan will only lead to animosity and potential class wars. As much as the poor can revile the rich, they simply cannot make an enemy of the rich and powerful and expect to win.


4) A point that needs to be mentioned.

Go to the Canadian border and you will see dual capable cash registers. Shops on either side of the border will generally accept Canadian dollars for a Canadian price and American dollars for the American price. The situation is probably the same at the Mexican border, but I can’t speak to that as I have only been to the Canadian border.

The point is that despite the one-currency situation that most of the country is used to, we are not dumb. We can handle dealing with two currencies. Or is Daisy at the little diner near Niagara Falls smarter than 90% of America?