Folks on the left tell us that they want to help the less fortunate.
I sometimes wonder if their real motive is to penalize success and punish the “rich,” but let’s be charitable and assume that many of them truly wish to help the poor.
That’s a noble sentiment, to be sure, but this is why it’s also important to look at the consequences of policy, not just the intentions.
I explained last year that certain left-wing fiscal, regulatory, and monetary policies actually harm the poor and help the rich, and I augmented that analysis earlier this year by showing how farm policies line the pockets of upper-income people.
Let’s now add to this research by looking at a new study (h/t: Tyler Cowen) from Mario Alloza of University College London. Here are some of the key findings from the study’s abstract.
Household panel…between 1967 and 1996 is employed…
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Utopia, you are standing in it! 
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