Global economic elite are sworn to stealing and consolidating wealth, not spreading it around
December 18, 2013
Krystal Ball, reading badly from her MSNBC teleprompter, is pushing the latest socialist idea tantalizing folks who are clueless about economics and human nature.
Ball cites an idea seriously under consideration in Switzerland. The Social Democrat initiative would provide all citizens with an unconditional basic income of 2,500 francs, or about $2,800, per month.
“For some, this might sound like some sort of cockamamie socialist scheme to give more handouts,” writes Joe Baur. “Those who think that might be surprised to hear some conservative economists have embraced the idea for the United States. A basic income, they say, eliminates the need for the plethora of bureaucratic programs that currently exist within our social safety net, allowing the poor to spend their basic income based on their specific needs without having to rely on several different organizations for help.”
Ms. Ball, and Mr. Baur as well, do not address the economic insanity and criminal mentality the “mincome” plan represents. They do not ask the obvious question: where will the money to finance such a massive program come from? Obviously, since money does not grow on trees – but does fly out of printing presses controlled by the Federal Reserve – the answer is simple: the money will be confiscated from producers and redistributed to non-producers.
The bankster mega-elite, of course, will not consent to their wealth being redistributed, so the next level down will be looted, as it always is: the local business person who earned his or her millions through sweat equity and single-minded persistence will be the one looted. Jobs will evaporate as businesses deprived of capital collapse, but this won’t matter because the government will be handing out money right and left.
After the producers are looted, the government will resort to printing money to keep the scheme going. This will create unimaginable inflation because the more fiat money not backed by wealth that is artificially added to the money supply, the less valuable each dollar becomes.
The idea of a “mincome” and its economic consequence will produce a social and technological stasis like something out of the movie Idiocracy. After the producers are fleeced to pay for indolent non-producers, innovation will evaporate. Like it or not, and despite Karl Marx’s insistence to the contrary, humans usually innovate and create new products in order to generate wealth and better their economic position. Steve Jobs didn’t invent the iPhone as a selfless gift to humanity. He did it to enrich Apple’s stockholders and gain market share for his company. The end result was a new innovation for humanity.
The mincome idea, hatched in socialist Europe, in a country with one of the highest standards of living in the world, is simply infeasible on a global scale. It is, in fact, another scheme that will be exploited by government and the elite that control it.
“If one understands that socialism is not a share-the-wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of superrich men promoting socialism becomes no paradox at all. Instead it becomes the logical, even the perfect tool of power-seeking megalomaniacs,” writes Gary Allen. “Communism, or more accurately, socialism, is not a movement of the downtrodden masses, but of the economic elite.”
The global economic elite are sworn to stealing and consolidating wealth, not spreading it around. Tiny Switzerland might get away with the mincome scam for awhile, but if imported to the United States it will be used to confiscate what small amount of wealth remains outside the hands of the so-called one percent.