Economic Equality Is Not The Solution

It has been made quite apparent that people have started to embrace a “socialism” where the government takes ownership of large portions of private enterprise production and transfers wealth from one group of people to another. Bernie Sanders claims he would take control of some produce of private companies, as opposed to all factors. He is promoting a version of government that relates to Germany under Adolph Hitler and Italy under Benito Mussolini. Incredibly similar to Mussolini, Sanders gains voters by saying that citizens are well off because they had gained their wealth on the backs of the poor. Sanders believes that the US economy is in trouble because of the greed of the wealthy. He believes that a lot of products are a waste, when considering the amount of people suffering.

Personally, I feel very strongly about this topic. Of course, it would be absolutely fantastic to benefit the people, especially those who are the most unfortunate. My goal in life is to make a powerful contribution to help the world. However, blaming the rich is not the answer. Taxing and taking from the wealthy is not the answer. Economic equality is not the answer. What makes America incredible is the fact that each citizen has the ability to determine his or her own success. If you are willing to put in the work, you can achieve your dreams and goals. Several people, most who are struggling with finances, complain and blame others for their situation. Yes, everyone must play with the cards they are dealt. Some are born into a bad situation and others are born into one with an easier access to more opportunity. However, that is in no way an excuse. Every single person has the same ability. If you are willing, determined, obsessed, motivated, persistent, hardworking, etc. you can accomplish any goal. Numerous people have started with absolutely nothing, but they turned it into something. They stopped blaming everything around them and realized that one’s own success is their own responsibility. Examples of this are Starbucks owner Howard Schultz, Oprah Winfrey, Paul Mitchell, Ralph Lauren, Arnold Schwarzenegger, Chris Gardner, J.K. Rowling, and the list goes on. It is easy to not put in the work and just blame the government instead. The people in that list refused to keep complaining and actually did something about it. I believe anything is possible if you refuse to give up, no matter how many failures come in your path. Being financially stable is a wonderful thing to strive for, but throughout the process, people also must learn that self wealth through money is not where to find your sense of completion. 

I take it from Warren Buffet who says, “No conspiracy lies behind this depressing fact: The poor are most definitely not poor because the rich are rich.” He also claims, “Nor are the rich undeserving. Most of them have contributed brilliant innovations or managerial expertise to America’s well-being. We all live far better because of Henry Ford, Steve Jobs, Sam Walton, and the like. Instead, this widening gap is an inevitable consequence of an advanced market-based economy.” He professes that there should be an expansion of earned income tax credit. There should be a federal tax credit that is targeted at the working class Americans, giving them a credit starting with the first dollar they earn and rises until it hits a ceiling, then phases out. If economic equality is enforced and I was in the top 1%, I know for a fact that I would leave the country and this is what I imagine most would do.

There are several controversial arguments, as everyone knows, in regards to the solution of making America’s economy better. It is unclear whether Buffet’s proposal would work, but he agrees with my argument that powerfully discourages economic equality. With economic equality, we no longer have America, a land of limitless opportunity, something that each person has the ability to fulfill.