Graph to illustrate Thatcher’s comment that socialists want the poor poorer provided the rich were less rich – Part 2

Previously mentioned a graph that illustrates the idea that socialists

would rather the poor were poorer provided the rich were less rich.

Here is a revised graph:

inequality graph 2

This is a much busier graph. Like the earlier graph, it is from Dave Poling and is used with his permission. Here are a thousand words to describe his graph.

It shows the same relationships –

In a generation, the poor become as well off as the middle were a generation earlier. The middle gains a lot and is as well off as the rich a generation earlier. And yes, the rich become really rich.

Under socialism, the rich, middle, and poor all get worse off.

An addition to this graph is the government and cronies. I call the latter group the crony capitalists, those companies and individuals who make their business thrive by lobbying the government and getting special treatment. They do quite nicely under socialism, thank you very much.

Since there is so much going on here, let’s look at the graphs in more detail.

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Graph to illustrate Thatcher’s comment that socialists want the poor poorer provided the rich were less rich – Part 1

Here is a graph to illustrate previously mentioned  statement from Margaret Thatcher that socialists

would rather the poor were poorer provided the rich were less rich.

Check this out:

 inequality graph 1

That chart is used with permission from Dave Poling.

Since a picture is worth a thousand words, the graph stands on its own. So here are 400 words to explain the one picture.

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Profile of Margaret Thatcher – Legacy of freedom

The Economist magazine had a nice profile on the legacy of Margaret Thatcher: No ordinary politician.

Items of interest for this blog are comments about her changing the overall economic and political direction of England away from Socialist back to Capitalist.

A colleague of hers once quoted Abraham Lincoln as encouragement to her before a major speech. She pulled out a copy of the quote from her purse. The comment? (more…)

Thatcher cartoon

If you’ve read my two Thatcher posts here and here, you really gotta’ check out this cartoon.

It’s great.

Love that tiny “ouch”.

Moral Foundations of Capitalism – Margaret Thatcher’s explanation

Capitalism is based on morality.

It is not based on self-centered greed. Quite the opposite. It is based on serving others.

Capitalism rewards people who serve others and meet their needs. Only after meeting someone else’s needs does the provider get a reward.

In 1995, Margaret Thatcher, Former Prime Minister of Great Britain expounded on The Moral Foundations of Society.

A few of many topics she covered in that speech were the moral foundation of democracy, law, and the founding of the U.S.

Let’s see what she said about Capitalism.  Following quotes are reprinted by permission from Imprimis, a publication of Hillsdale College:

The Moral Foundations of Capitalism

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Thatcher: Socialists would rather have the poor poorer provided the rich were less rich

Margaret Thatcher passed away today.

In 1990 she gave this great explanation of the difference between capitalists and socialists while being questioned in the Commons.

An obvious socialist asked how she could defend policies that resulted in the gap between richest 10% and poorest 10% widening substantially. The poor were relatively less better off than the rich. How could she justify that?

Her devastating response: (more…)