The rich get richer myth, this is one that we hear all the time, thankfully Chels Chelsea Follette from Human progress.org, wrote an article titled High turnover among America's Rich going to the science, as the progressives loves to tell us. She says, some 94% of Americans who reach top 1% income. Status will enjoy it for only a single year, approximately 99% will. Lose their top 1% status within a decade.
Now consider the top, 400 US income earners a far more exclusive Club than the top one percent between 1992 and 2013, 72% of the top, 400 retain that title for no more than a year over 97 percent retained it for no more than a decade. Excellent work for human progress, smashing the statist myth that always Justifies further and further State intervention to which people will almost always respond. Well, you could never spend all that money.
Why is it okay for someone to have it as if it's under a mattress? As if it's not being invested in given out in the form of loans by Banks or anything? Or in the stock market here is how Jason Brennan responds to this criticism. You know there's these arguments that basically say if you're rich you should give it all the way because how can you live high while other people died?
And one of things that do with it is to point out that the reason some of us are living high is in part because we haven't yet worked on this attitude of, you just need to give it all away. So it is true that there are people that are starving right now and you could save them. They're people who are blind and you could save them.
I'm not saying you shouldn't, I think, I think it is worth helping some of these people in these circumstances, but the reality is the, why don't we give it all the way out of to has never made a cunt? Put people in a position where they're in position to help. Right.
So, you know, back in 1971, the philosopher, Peter Singer writes, a paper arguing that you should give away almost all of your income to help others and basically no one listens listens to Peter Singer. And as a result, South Korea goes from being a poor country to being a rich country in 25 years because people didn't listen to them. And so they bought VCRs and cars and Stereos and other kinds of
things. So, it's important to recognize that trade and investment are the things that actually liberate people to be rich and put them in the position to wonder how much Should help people. The Let's help everyone can you know it's like it's like that that never actually succeeds lifting a country out of poverty. Never actually succeeds in creating Prosperity. What it does do is stop people. In some cases from starving to death. We should be aware that that's all it really does.