The “war on poverty” should be called the war on wealth, and it shouldn’t be called a “wealth transfer,” it should be called a poverty transfer.

By taking wealth from those who have more of it, and giving it to those who have less of it, then those who had more now have less, meaning they’re now poorer than they were—i.e., they now have more poverty. So in reality, poverty is also being transferred back to them in exchange for their wealth.

Except the catch is that only a fraction of the wealth the state takes actually gets transferred from those who have more to those who have less, because the state absorbs a large portion of the wealth during the transfer process—meaning most of the wealth actually gets transferred to the state, which also means most of the poverty that gets transferred back in return comes not from the poor, but instead from the state.

So in other words: most of the wealth gets transferred from the people to the state, and most of the poverty gets transferred back from the state to the people. The result: the people become poorer, the state becomes richer, and the poor remain poor. Huh. Surprise surprise.

And that’s besides the idiocy of thinking that by simply transferring the wealth (and poverty) around between the people, that’s somehow going to create more wealth and reduce poverty in society overall.

A Note From Rand: Please take a moment to subscribe to this blog for email updates; also, please like my corresponding Facebook page, and follow my Amazon Author Page for notification of future book releases. Thanks!