Thomas Peterffy — who escaped socialist Hungary to build a business (Interactive Brokers) that employs thousands in the USA — nails it:
“Yes, in socialism, the rich will be poorer. But the poor will also be poorer.”
Why anyone would want the rich to be poorer is a mystery to those uncorrupted by envy, but liberals want it so badly that they are more than willing to sacrifice the poor to achieve their objective.
Of course, the poorer the poor are, the more dependent they are on Big Government, so plunging them ever deeper into poverty is actually a plus for statists.
As for the middle class — under communism, there is no middle class. The plan according to Lenin is to grind it out of existence “between the millstones of taxation and inflation.”
If we don’t start listening to the warnings from those who have seen collectivism up close, it will soon be too late to turn back.