Read Now: “Inherit The Wind . . . And Not Much Else”
Yesterday, Investor’s Business Daily published a new op-ed by Don Watkins and Yaron Brook, in which they argue, contra Thomas Piketty et al., that there’s nothing even remotely unfair with the wealth gap due to inheritances. Here’s a taste:
[A] person can have a right to much more than what he has earned. If a person enters a sweepstakes and wins a car, he hasn’t earned it in the sense that he earns his paycheck. But he gained it through a perfectly fair process, and it would be just as wrong for a thief to steal his car as it would be to steal yours. . .
Don and Yaron then go on to show why inheritances are, in fact, earned. But how can that possibly be? Read here to find out.