Source: Free Association
by Sheldon Richman
“Obama said that he knows wealthy people who want to ‘give something back.’ Why? Presumably because of their wealth and success. That makes no sense. If these people made their wealth by producing attractive goods for consumers (which is how most wealthy people get wealthy), then what’s to give back? We consumers did not give them money as a favor. We engaged in voluntary exchange. We gave up $X to get product Y because we prefer what we got to what we gave up. They benefitted and we benefitted. Double profit, double ‘thank you,’ as John Stossel says. That’s how trade works when it’s uncoerced. No debt; nothing to give back. End of.” (11/22/24)
https://sheldonfreeassociation.blogspot.com/2024/11/tgif-you-didnt-build-that.html