The "hole in the bottom", as you call it, is the government system of funneling wealth upward instead of outward.
Better, your analogy is wrong: the problem is not that there is a hole in the boat, the problem is that we have a boat with plenty of room for new passengers to join the cruise in comfort, except that half a percent of the passengers insist on keeping half the boat to themselves -- with the connivance of the crew.