A: Welfare schemes don’t “recirculate wealth to individuals.” They take property from some individuals to give to others. The former group has accumulated wealth through hard work, vision, pluck and sometimes luck, but overwhelmingly by peaceful and voluntary means. These are the most productive members of society and the best stewards of capital. Transferring any portion of their wealth to the poorest stewards of capital (especially politicians and their bureaucracies) can only shrink the economic pie.
Ironclad law of economics: Tax a certain behavior and you get less, subsidize a certain behavior and you get more…
~ Kevin Duffy, Quora answer, December 26, 2019
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