The Rich get richer

Goldman-Sachs says the richest one percent own fifty percent of the stocks. That may seem unfair, but that's Capitalism -- and all of the other "isms" are worse.

America's Money Answers Man Jordan Goodman says the naive think switching to Socialism would fix it.

"There's a lot of class envy out there; people say 'we should take money from the rich and give it to the poor' kind of like a modern Robin Hood thing."

But Goodman says Socialism just makes it easier for politicians to steal money.

"When you actually see what happens in Socialist or Communist countries you also get a tremendous concentration of wealth at the top; if you're in Venezuela and you are Chavez or Maduro, they always rake off the best for themselves."

Goodman says Capitalism is not a zero-sum game; Jeff Bezos' 100 plus billions don't keep you from getting rich.

"Back in the days of the Soviet Union, the Communist Party members were always the wealthiest -- they were the ones with the dachas (a "dacha" is a summer house) so, even in the theory that Socialism makes everyone equal, it doesn't actually work that way in practice.

Socialists point to Scandinavia as justification for Socialism, but those are countries with tiny, homogenous populations who do, in fact, have market economies. They nationalize a few things like health care, but the state does not own many of the businesses.

Goodman says Capitalism isn't just one pie and if they get theirs you can't get yours. Capitalism bakes an endless amount of pies.

 
 

title

Content Goes Here