00:01
Hello everyone and welcome.
00:03
So i can't very well write the essay for you, but what i can do is give you a lot of the perspectives, or one specific perspective here, about wealth redistribution by raising taxes on the rich and giving money to the poor.
00:17
So here's a few things about tax, so over taxation slash wealth redistribution.
00:31
Oops, distribution.
00:35
There we go.
00:36
So firstly, taking money from the rich and giving it to the poor, although it can sound tempting, it reduces the incentives in a workplace.
00:49
So it reduces the incentives that are in the workplace because now what is the incentive for somebody to study really hard and become a doctor per se? well, normally it would be their high income.
01:00
But the more that these wealth redistribution programs take place, the less this incentive remains.
01:07
So it diminishes over time.
01:10
The other thing is that it diminishes innovation and business development.
01:23
Because once again, there's no point in taking that major risk in starting your own business if there is really no financial benefit or at least reduced financial benefit.
01:32
And it can also increase, it can also increase laziness.
01:44
And complacency within the workforce...