The Surprising Virtues of Income Inequality

American Elephants

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The Left, as is usual, smells opportunity in statistics  that they can use to win votes and attack the other side. Yahoo chimed in today: “THE ISSUE: The rich keep getting richer while more Americans are getting left behind financially. The average income for the top 1 percent of  households climbed 7.7 percent last  year to $1.36 million, according to tax data tracked by Emmanuel Saez, an economics professor at the university of California, Berkeley. That privileged sliver of the population saw pay climb at almost twice the rate of income growth for the other 99 percent, whose pay averaged a humble $48,768.

“The” Income Inequality” critic’s faculty salary puts him in the top 1%. Decrying the iniquities of the American capitalist system pays off. Emmanuel Saez’ total wages in 2014, came to $549,350,” in case you were wondering why tuition at major universities is so high.

Yahoo accompanied the…

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About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

1 thought on “The Surprising Virtues of Income Inequality

  1. I do not see income inequality as an issue the left is only concernedwith. mainstream economists are now concerned with this issue. We see the IMF and the OECD having papers written on this topic and this issue is frequently seen as a major issue why Brexir occurred and why parties of the extreme right and left are gaining in support in Europe and of course we have Trump and Sanders in the USA.

    If you ignore income equality then it seems to me capitalism does not work well at all.

    Perhaps Marx had something after all!

    Liked by 1 person

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