Columbia, SC — Editors’ note: Due to an editing error, incorrect numbers were given in this letter, which originally ran on Feb. 26. We are reposting the corrected version of the letter below:
The Jan. 24 article (“Survey: Gap growing between rich, rest of us”) said that large majorities believe that circumstances, not who works hard, determine who becomes rich. If that is the case, perhaps the rich should be cut down to size, especially the recently identified 85 richest people in the world who hoard more wealth than half the world’s population.
Let’s confiscate the wealth of those people and distribute it among the world’s population; $1.7 trillion dollars divided by the seven billion people in the world equals a bit more than $240 per person. That would not be anyone’s share because big government is extremely inefficient. There is no competition to encourage cost control. I am told that for every dollar taxpayers supply for welfare programs, 70 cents are lost to bureaucracy.
So I expect my share of the billionaire fund will amount to around $70. It sure would feel good to close that gap, would it not?