Outright property confiscation by governments is something that’s ardently disparaged here at the Economic Prism.  There’s no justification we can rationalize for state sponsored theft.  This includes penalizing those who are young and healthy with a disproportionate burden of a compulsory health insurance program.

Along these lines, we don’t envy those who’ve managed to accumulate a greater pile of stones than us.  Like Margaret Thatcher, we “do not know anyone who has gotten to the top without hard work.”  Thus, it only seems right they should be free to enjoy the fruits of their labors.

Still, many people out there want to soak the rich.  Somehow confiscating their property is the solution to the government’s spending problem.  Scaling back government promises is politically unthinkable…even though that’s exactly what’s needed.

But these days it’s not just the property of the rich that’s being eyed by over indebted governments.  It’s the property of anyone that has any assets, no matter how meager. Continue reading →