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Taxing Wealth, Part IV October 2, 2019

Posted by geoff in News.
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OK, all the distractions are gone and I can finally keep my promise and talk about the Cato poll. This study focused on trying to determine the importance of compassion for the needy vs. resentment toward the rich in defining attitudes on wealth and capitalism.

I think the most telling chart was this one:

Cato Poll Billionaires Immoral.GIF

Compassion for the needy is actually slightly anti-correlated with the acceptability of billionaires, while resentment of the wealthy is high correlated.

So Bernie and his Bros are really just envious of wealth, and looking to cut the legs out from under those who are wealthy.

Attitudes Toward Capitalism. It has long been my thesis that those who hate capitalism are those who suck at it, and who envy those who don’t. As the poll results below indicate, the level of  compassion you have for the unfortunate is more weakly correlated with hating capitalism than is harboring resentment toward the rich:

Cato Poll on Capitalism.GIF
Obviously resentment/envy isn’t the only reason people don’t like capitalism, but it’s just as obviously a leading cause.

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