Friday, May 08, 2015

Why Some People Hate Rich People

I've come to the conclusion that people who hate the rich and want "wealth distribution" have a Scrooge McDuck view of the rich.

You'll remember that Scrooge McDuck was a Disney cartoon character, uncle to Donald Duck I think, who was known principally for his three cubic acres of money. Bills, coins, gold and so on filled a building which enclosed a cubic acre. Since an acre is a bit more than 208 feet on a side, a cubic acre would be about nine million cubic feet and three would be 27 million cubic feet.

People who hate the rich are imagining all that cash and gold coins just sitting there. Scrooge McDuck used to swim in his money. No wonder these people dream of getting a beach bucketful or two for themselves. "Redistribute the cash so everyone can have some!"

The problem is, there is no bin with three cubic acres of money. Rich people don't accumulate warehouses of cash. Their money is invested, working for them. The money is in hospitals, schools, manufacturing plants, and homes. (Where do you think banks get the money to lend to people buying a house? It's not printed in the back room.)

So stop dreaming and put your own money to work for you, and eventually you'll have--more than you think.

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