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Among the numerous fallacies embraced by socialism, one of the most notable is completely ignoring the value of investment and risk. Socialists love to talk about the value of “labor” and how profit is made on the backs of “labor,” but they ignore the fundamentals of human nature and of how the market actually works. …
Contrary to the claims of many progressives and socialists, wealth is not created primarily through labor; rather it is created through taking risks and having a willingness to delay gratification. Yes, labor can create some wealth by converting and combining lesser valued goods into more valued goods, but most labor is simply traded—it doesn’t actually …
The whole notion of capitalism is that those with capital are incentivized to invest it in order to obtain a profit. If profits are outlawed or significantly reduced through confiscatory taxation, the incentive to invest is reduced or eliminated. If profit is forbidden, I have no incentive to invest rather than consume. Why would I …