SHAME: Pope Francis Endorses Economic System of Slower Growth and More Poverty
It's really unfortunate that Pope Francis is so economically illiterate. The Roman Pontiff claims to care about the world's poor, but he certainly seems to have no qualms with policy that exacerbates existing poverty, and makes it harder to climb up the socioeconomic ladder. His most recent target: tax havens.
"The Vatican denounced the use of offshore tax havens… The document, which was released jointly by the Vatican’s offices for Catholic doctrine and social justice, echoed past warnings by Pope Francis over the dangers of unbridled capitalism. …The teaching document, which was personally approved by the pope, suggested that greater regulation of the world’s financial markets was necessary to contain “predatory and speculative” practices and economic inequality."
The document also decried these places as "depriving nations of legitimate revenue." Well, what about depriving families from their own sources of revenue, from their jobs? Ever think of that?
Here's the thing: if we want to help people in poverty, policies need to be written in a way so that they are not trapped in such a position. High tax rates and excessive regulations that will prevent "income inequality." But if chipping away at income inequality is the goal, that will never happen without reducing effort inequality.
Though, what should we expect from the Pope who said that we can simply ban all weapons and not have to fear war anymore?
(I bet that doesn't apply to his own security, of course. Just as the policies he so ardently advocates would not affect his lifestyle in the Vatican).