By now, I imagine most of you guys have seen the claims that income inequality has skyrocketed in one form or another since the start of the COVID-19 pandemic. For example, on 8/20/2020, Dan Price tweeted the following:
Amazon: profit up 100%
Walmart: profit up 80%
Target: profit up 80%
Lowe’s: profit up 74%
Microsoft, Facebook, Apple, Google: stock at record high
Small businesses: 21% closed; revenue for rest down 30%
We’re seeing a monumental wealth transfer from mom & pops to conglomerates.
Of course, things are just much more complicated than that. Various fast food restaurants, even the giant chains, are currently struggling as a result of the COVID-19 pandemic. Many online businesses, including many small ones, are either unaffected or doing much better than they were before the pandemic started.
However, even I can agree that massive amounts of income inequality can be an issue depending on how it’s caused. So what caused all of these big businesses to start making more and more profit? Simple, it was the constant lockdowns advocated for by the left during the COVID-19.
The fact is, when you lock people in their houses, all that means is they can only buy what they want from online retailers. While Amazon is far from the only online marketplace, it has constantly shown itself to be the most efficient and as such has managed to become the most popular. In an emergency like a pandemic, it is very clear that the average person would much rather trust them than some random website they have never heard of.
However, even the harshest state that was put on lock down did allow citizens to go out in order to buy groceries. Many of them still forced consumers to only buy from the big dogs through forcefully shutting down all small businesses in their states. This, might I add, could have worsened the COVID-19 pandemic through forcing many people to be in the same space at a time where “social distancing” was being encouraged.
The left has a solution to this, wealth redistribution. Of course, wealth redistribution has been tried in one form or another, even in the United States, for centuries. The entire point of our modern welfare state, for example, is that the wealthy among society will pay for the basic standards of living for the poor and downtrodden. Yet, the left continuously (albeit indirectly) admits these programs have been failures. How? Because they constantly call for either brand new programs to address new social ills or call for the expansion of pre-existing programs.
Again, success was never the end goal, control was. The left understands that the worst policies come out of real problems, a corporate oligarchy can be a massive issue, but the left does not have the right solution. To put it simply, the only solution they have is authoritarian power over the economy, and they will do everything they can to make you think it’s a good idea.