Here's a good article to read regarding the left wing gibberish on billionaires.
Tomasky and Taxes | National Review
Question: Can Tomasky or anybody else describe the actual mode of “transfer” at work here? In what sense has money been transferred from the middle class to billionaires such as Bill Gates? And who did the transferring?
As is the case with most American billionaires, Gates’s vast fortune has its origin in the launching of a new business. When Microsoft made its initial public offering of stock, it created three billionaires and about 12,000 millionaires. That money came from stock investors, who traded their cash for equity in Microsoft. That was an excellent decision: An investment of $1,000 in Microsoft shares at the IPO would be worth more than $1.6 million today (assuming the reinvestment of dividends, etc.).
The American middle class could stand some more victimization of that kind. If that is what getting ripped off looks like, then let’s have some more of the same.
The other way money is “transferred” to Microsoft and its shareholders is in the form of corporate income, which is used to pay both salaries to employees and dividends to shareholders. When it makes a sale, Microsoft gets cash, and consumers get copies of Office or Windows or whatever. If that is what is meant by “transfer,” then “transfer” is just a fancy word for “business.”
