Here is an important and relevant quote from Abraham Lincoln

Here is an important and relevant quote from Abraham Lincoln (not quite sure of the author because many experts dispute that it came from him). Is he talking about poverty and helping the poor? Do you agree with his reasoning? How can we apply this concept to the existing income inequality?

“You cannot strengthen the weak by weakening the strong. You cannot help small men by tearing down big men. You cannot help the poor by destroying the rich. You cannot lift the wage earner by pulling down the wage-payer. You cannot keep out of trouble by spending more than your income. You cannot further the brotherhood of man by inciting class hatreds. You cannot build character and courage by taking away a man\'s initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.\"- Abraham Lincoln

. 2 DT

Here is an important and relevant quote from Abraham Lincoln (not quite sure of the author because many experts dispute that it came from him). Is he talking about poverty and helping the poor? Do you agree with his reasoning? How can we apply this concept to the existing income inequality? “You cannot strengthen the weak by weakening the strong. You cannot help small men by tearing down big men. You cannot help the poor by destroying the rich. You cannot lift the wage earner by pulling down the wage-payer. You cannot keep out of trouble by spending more than your income. You cannot further the brotherhood of man by inciting class hatreds. You cannot build character and courage by taking away a man\'s initiative and independence. You cannot help men permanently by doing for them what they could and should do for themselves.\"- Abraham Lincoln

Solution

Yes. I agree with this reasoning. We cannot tax the rich to support the poor. We cannot deprive the rich of the wealth that they have earned to fill the pockets of the poor. In fact in many countries it doesn\'t even reach the poor. In gets gobbled up by politicians. In fact what is required is to get poor to support themselves. For eg: provide employment opportunities to the poor for their upfitment. This will provide boost to the economy. One way of doing this skilling the poor to create skilled labour. Taxing the rich is not a solution nor should it be encouraged. A min. Taxation of the super rich should be fine. There will always be the 80-20% rule wherein 20% of the world\'s rich will have 80 % of the wealth or atleast will have max. Share of world economy.