They say they are just "redistributing" it. On which I agree, when it means to give to everyone worth it the "bootstrap": initial investment (access to education, access to financing, etc) but I think we're all against life long gifts payed by someone else... even when masquerade by administrative work or something equally unproductive...
The reason for expected failure of any government of the people is human nature. Never overlook the word nature. How does the world operate out in the jungle outside of that which our civilization operates. We as a species are part of that world no matter how much we think we are above it. Hard to really control. I don't really believe " And the lion shall lie down with the lamb." do you?
Where exactly does the other 90% go? I will accept that a poor person spends all the money they get. By spend I mean precisely that they trade their dollars for goods or services which they consume that never yield a monetary return. Food, utility bills, car payments, clothes, booze and other vice, I won't make moral judgments. No savings, no investments. I also accept that rich people might only "spend" 10% of a gov't stimulus check. But what of the other 90%? If it's not spent, it must be invested. Someone tell me where it goes, and how that is "worse" (or even different!) than the poor person who spends it.
Investing? Or speculating. If there is too much money chasing too few worthy investment, the money will end up in malinvestments... the rich hoard money, thats what they do and if everybody did that the economy would crater!
Investing. Are we on the same page that investing is a unilaterally good thing? And I mean real investing; starting a business that will employ real people. Research and development. Maybe finding the cure for cancer, maybe inventing the next iPad, maybe selling a better cup of coffee. I say all are worthy pursuits, that make a better world. Speculating. Same as gambling. Now you may have an edge, a good setup, inside information, or simply the odds in your favor. Or you may not. So if a rich person wins, they have more money. But if they lose, where does it go? To another rich person presumably. But then what do you think they do with it? Rich people hoard money? Where? Tell me exactly where this money is hoarded, and how this hurts the economy.
even worse, when i saw the link ("bullion bulls") I got the feeling that it was a goldbug shill site, so i decided not to read the article
plus rich people want to make money always, they will short in bear markets and go long leveraged in bull ones, exacerbating the bubble like properties. They wont ever put a big proportion of their money in a risky investment, unlike the plebs.