In the USA, Axios tells me the bottom 50% of house holds control 1.3% of the entire wealth of the USA. I don't know if Axios is correct, but I imagine they are very close
We hear people wanting more socialism, wealth re-distribution, higher taxes on the wealthy, free this and free that etc etc.
Now I have to admit I do not want a wealth tax. I earned my money the hard way, took risks and wonder why others can't do the same. Maybe my I.Q is a tad higher than average, maybe I had white privilege IDK and I don't care. I want to pay the same tax as all others according to a fair tax code. Maybe my idea of a fair tax code is not the same as some body else would consider fair, but do not strip away my wealth in a re-distribution scheme of any kind
But: when the top 20-10 or even 1 % control so much wealth compared to the bottom 50%, do you understand why people are looking at the wealthy and thinking, what is my share of the nations wealth. Why is my pay check so small I can't afford to buy into the stk market. I work hard, I know in many instances the color of my skin is a problem [even white skin can be a problem]. I know on average my male counter part is paid more for the same work product, many of my early yrs in school, might have failed to give me a proper basic education, thus higher education was a personal battle. Today I have a mountain of education bills [I think the average is more than 30,000]. But if my degree is worthless in todays over crowded work force, then minimum wage won't even pay back 30,000 let alone those who have more than 30,000 as 30,000 is an average with many higher than 30,000. I can't afford a house or family on minimum wage, and yet I see so many driving new cars, buying multi-million McMansions and wonder why can't I have the things I think I should when I am 30 plus and still looking to get married, buy a small house and raise a family. Common law will have to do and if children get in the way I will simply take a powder. Is this the society we want and need???
I think as the bottom number increases beyond 50% then socialism will look more attractive than our present system of wealth distribution
Some say we are in a depression now [IDK] but I don't think life will return to what it was before the virus, as we will always have the corona virus just as we have the common cold, the flue and cancer to name a few. A vaccine will be useless, unless we keep on with booster shots as the immunity quickly wears off, over time. If we can't find an effective vaccine for the flue why would the corona virus be any different. Why would our life habits change after the election vs today?? Will masks make the virus go away???Not a chance, sorry to burst your bubble
Thus our way of life has been changed and will continue to be changed, in ways we have no idea, with the bottom 50 % increasing in numbers and controlling the ballot box and our future laws, unless the bottom 50% suddenly become more affluent and financially stable. Small chance of that happening with capitalism
Let's face it. Money may not be every thing, but money sure does help cure a lot of problems even if money creates new problems
I would choose money vs no money, trust me, and take a chance on the new problems.
I think a lot of other people think the same way I do
And that is why I think socialism will come, no matter what we think or do. In fact a lot of our methods of gov't and laws as socialist today. The process will simply become more socialist, if you want to call that socialism vs radical socialism. Radical socialism may be too much, too soon, depending on your definition of radical socialism.
Is the new Ca. law that no internal combustion engines for cars, be sold in Ca. after 2025, a bit too radical?? Just one example of the radical left and too much too soon or maybe not so radical, especially to the state legislature which passed this new law, and obviously thinks this law is perfectly proper. I disagree but what do I know. I think this is the radical left, trying to control our lives, much like socialism is an effort to control our lives.
Where we go, nobody knows but we do have some indication of what our future might be if Biden gets elected.
This is our future, even if Trump somehow pulls off a shocking win.
The strong trend in momentum of progressive agenda, socialism/extreme left ideologies is unmistakeable in recent years.
What makes it seem so likely to continue is, "what would stop it?"
Conservatives are dying off and new liberals are being born all the time. It's a numbers game.
The democrats will be gaining such an advantage in numbers within a few years that they will be gaining more and more power.
They will be abolishing the electoral college to make presidential elections easier to win, so they will have control of the presidential branch.
They will be packing the Supreme Court for certain. Adding numerous new liberal judges as they expand the number from 9 to something much greater than that, so they can control the judicial branch.
They have control of the house now but are likely to also get control of the senate in short order.
Extreme policies like the Green New Deal(which can never work) and massive carbon/energy taxes as well an increase in other taxes are coming soon.
Sadly, what may stop it will be that we actually become socialist and then people here learn why, for the last century or so, people have fled socialist countries to come to the US Of course, with socialism, you can vote your way in, but you generally have to fight your way out.
The problem with people who embrace socialism is that they are ignorant economically, and in many other ways. For instance, in the US, our poor live better than the "middle class" in much of the rest of the world.
But wealth envy is a powerful tool that has served every leftist tyrant well over the last century or so. When I was young, I was taught that the way to wealth was to emulate the wealthy. Now it seems they are taught the way to wealth is to steal from the wealthy. They adhere to the hopelessly flawed ideas that one mans gain is another mans loss, that the economic pie is finite and the wealthy have more than their fair share.
I just hope I get to finish off my life before the wheels come off and these spoiled brats get to learn just how stupid they are.