The Dark Sides of Wealth Redistribution: A Caution

An evenly divided financial pie mosaic.

By Nate Kloepfer

We all have a desire to help our neighbor, but are wealth redistribution welfare policies the right way to do it?

In many countries today, prosperity and wealth have reached unprecedented levels. However, there are still many who have not reaped the benefits of our modern-day levels of prosperity. Many are still struggling each day to make ends meet and to survive. A large question arises: why are there still poor individuals in this age of wealth and prosperity?

It is a good and natural feeling to want to help those who are economically less fortunate. These are the emotions that motivate some to propose and implement government intervention in the economy, such as progressive tax rates and generous welfare benefits. But do these policies fix the wealth disparity in the nation, or are they just a quick fix with long-term negative consequences?

Here lies the tension between the ideologies of laissez-faire economics and interventionist economics that can be traced back to the 19th century. Unlike leading to the prosperity of all, the wealth redistribution policies of progressive taxation and large government benefits lead to economic stagnation and collapse.

Planning my post about The Failures of Wealth Redistribution

My main topic is addressing the past failures of wealth redistribution policies in history in an effort to guide public opinion away from the contemporary drive to implement these same policies. The topic of wealth redistribution is very relevant in today’s world, where many politicians appeal to the working class by promising government help furnished through the increased taxation of the rich. Many in today’s society favor an activist government, a government that “levels the playing field” at the expense of the wealthy. I oppose wealth redistribution policies because I do not want my posterity and the future inhabitants of this nation to retrogress in prosperity, and I do not want the United States of America to decline.