Tuesday, November 4, 2008

The Rich and the Poor

We've all heard the saying "the rich get richer and the poor get poorer." Some people mistakenly take this a step further and believe that the poor get poorer because the rich get richer. Apparently, if somebody creates wealth and becomes rich, that hurts the poor, at least so goes the line of thought. Robert Samuelson, here, dissects the inequality debate, and mentions what everybody should know: wealth is something that must be created, and if you tax the creators of wealth too heavily, they will simply not create as much wealth, and then everybody is poorer.

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