September 16, 2016
The Fallacy of Income Inequality
There was a delicious ditty in the news a few months ago about how the world’s wealthiest 62 persons own more assets than half of the world’s population:
Last year, just 62 individuals held wealth equivalent to the amount owned by 3.6 billion people, about half the world’s population. That’s according to a new report by Oxfam published ahead of the World Economic Forum in Davos, which aims to show just how deep the gulf of inequality has become.
Ah, the canard of so-called “income inequality.” The feeling by liberals -- especially American Democrats -- that greedy conservatives are hoarding too much of the world’s finite wealth for themselves, thereby denying the hard-working Average Joe and Jane (particularly Jane) of their right and ability to earn a fair middle-class wage.
If Bill Gates or Warren Buffet -- no, wait, not them; they’re liberal, so they’re ok -- if the Koch brothers didn’t selfishly...(Read Full Article)