Poverty (to all) is also Equality
Wealth inequality has been on the political agenda for decades but with little success in reversing the negative trends. Inequality remained largely flat after WW2 until President Nixon took the US off the «gold standard» in 1971. The buying power of the USD has deteriorated ever since due to currency printing and ultra-low interest rates. These policies have exacerbated the wealth gap, making asset owners richer while wagers and savers are comparably draining wealth. This is particularly evident in the US and to a lesser degree in European Western countries.
Of course, the growing inequality has not eluded the left's attention. Capitalism is currently blamed for all ills in Western societies, while socialism has reemerged as the new promised land with happiness, equality and social justice for all. The fact that socialism has created only misery and death to tens of millions in China, the Soviet Union, and Cambodia, to mention a few, seems not to bother the left in the slightest. All that matters is to purport good intentions so they can feel good about themselves.
University campuses are ripe with disillusioned professors who lost their purpose when the truth about their beloved Socialist regimes became known to the world. The utter humiliation came with the fall of the Soviet Union. The left has since plotted revenge and worked covertly by indoctrinating young minds to hate capitalism and Western culture. This strategy is clearly destructive for societies but quite successful for increased political power.
University whitewashing of Carl Marx has made his dogmas credible to fragile minds whose contribution to a better world seems limited to virtue signalling. Nearly 70% of young people in the UK want socialism over capitalism. Why? Because they believe it is the best system to tackle inequality. They blame racism, housing crisis, low solidarity, and climate crisis on capitalism.
So, demographics alone predicts a promising future for the left. Much political power can be harvested from Millennials who think wealth can be created by government handouts funded by money printing and higher taxes.
The most recent evidence of this Western sentiment is the Norwegian parliamentary election on September 13. A labour-communist–socialist coalition made a decisive victory and ousted the conservative minority government. Similar to most Western elections Mainstream media played a significant role, echoing leftwing narratives while silencing news in favour of the conservatives. Growing inequalities became a hot issue, a topic ridiculously irrelevant for Norway as one of the most egalitarian countries in the world. Hence, the left succeeded to secure victory on promises to increase taxes on "the rich" to fight inequality. The Marxist elect coalition partner SV has promised effectively 100% increase on the most dreaded and contentious tax of them all – the Wealth Tax.
There is little Viking Spirit left in Norwegian genes. Political attitudes have shifted radically to the left. Like all advocates of socialism - they hypocritically embrace taxes they believe they will not pay themselves.
Carl Marx proposed to solve the inequality by high progressive taxes and the abolition of inheritance. Advocates of socialism should, in this context, learn that Marx never took employment even when he had a wife and seven children to support. Only three daughters survived, and two of them committed suicide. His family lived in squalid conditions, and instead of finding employment, Carl Marx worked tirelessly to gain control over his mother's inheritance long before she died. The idea that a potential employer would benefit from his labour was simply unbearable for Carl Marx, and it was much easier to let his wife and children suffer. His letters to Engels suggest Marx had little love for his mother and the family he raised. His motivations were strikingly self-serving. Marx was a tragic figure who spent his whole life resenting and envying.
Marxism and left-wing policies go hand in hand and appeal to the darker side of human character - envy and resentment. Socialist followers are energized by the destructive emotional state of anger and self-pity. Although exceptions exist, socialists are motivated by contempt for the successful, not love for the less fortunate they claim to embrace.
Hence, the true aim is to pull down individuals higher up on the social ladder – not to enable upward social mobility.
Poverty to all is also equality.