Time for another reminder that profit is *usually* not evil.
If profit is gained through exploitation or crony capitalism, it can rightly be seen as evil.
But if it's gained through providing a good or service that is valuable to consumers, it can be rightly seen as virtuous. It's the reward of offering a higher-value solution to a job that people wanted done.
But what about what the business owner does with that profit? Can that turn a virtuous profit evil?
There are only three things the business owner can do with that wealth: save it, spend it (which includes giving), or invest it.
Save it: Usually only done with a very small percentage of the wealth earned. Mostly for an emergency fund, like to cover 6 months of expenses. This is great. It prevents people from defaulting on loans or making imprudent and short-sighted business choices prompted by running out of personal funds.
Spend it: If a business owner spends "too much" of their virtuously earned profit on themselves (like by choosing to live a lavish lifestyle), it can come to be seen as unfair or even "immoral." I dislike the judgment applied to how others "should" spend their money. An interesting fact about this spending is that the wealth they are spending is now getting redistributed to others in society. Isn't that what those calling the lavish lifestyle immoral want?
Invest it: The more profit the business owner accumulates, the larger the percentage of their wealth that ends up going to investments. And since investments are the driver for innovation and, thus, for all further wealth improvements for the entire society and world, I think this use of their wealth is a great service to the country. And the owners of successful businesses are probably uniquely qualified to choose which other business ideas should be funded.
If the people calling for socialism, wealth taxes, etc. would take but a few moments to think through the assumptions motivating the policies for which they advocate, maybe they would change their minds.
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