Friday 14 June 2024

"Their wealth is not at the expense of others – it is by providing things of value"


"One-hundred years ago almost all the wealthy inherited their wealth. Today most billionaires become one through being entrepreneurs. They create something of value. ...
    "I don’t begrudge [the Mowbray family] that they are worth $20 billion. Their wealth is not at the expense of others – it is by providing things of value.
    "The left parties want to introduce an asset or wealth tax on anyone who gets too successful. Not content with taxing income, they want to redistribute assets also. But what do you think will happen if they ever succeed in NZ? I can tell you what – the Mowbrays will probably relocate somewhere and take all the income tax, company tax etc. they pay with them."
~ David Farrar, from his post 'A Kiwi success story'
UPDATE: Isn't it funny what massive success brings out of the woodwork. David Farrar's praise above for the Mowbray's non-sacrificial entrepreneurial success is in stark contrast to an envy-ridden screed about their success by failed former Labour minister Michael Wood, who skips quickly from suggesting their success shows New Zealand is "a little out of balance" [?] to calling for the government to tax the bastards.

Thomas Cranmer takes the oily former minister to task, making an excellent recommendation to remedy his thinking:
Mr Wood, of course, is a former Labour MP and Cabinet Minister who lost his seat – a relatively safe Labour one at that. Now as a union organiser – what a surprise – he carries on the collectivist messaging that characterises the Left. To understand the fundamental importance of individual effort and, as Ayn Rand put it "to show how desperately the world needs prime movers and how viciously it treats them" and "what happens to the world without them" Mr Wood might like to try reading Atlas Shrugged.
    I applaud the Mowbrays. I admire their initiative. I extol their entrepreneurship. I could not take the business risks that they obviously have to get to the position that they now are in. But that is not common for New Zealand nor is it common for the media to express unqualified praise for those who have done well. There is always a “Good on them, but….” And it is the “but” that evidences the Groupthink of the tall poppy syndrome which is an aspect of New Zealand culture that we could well do without and that Atlas Shrugged condemns.

 Damned right.


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