Beating the Income Inequality Drum

Over the next two years the drumbeat of income inequality will be repeated more times than Iron Butterfly's "In A Gadda Da Vida." The political aim will be to sway the American voter into believing two things: income inequality in America is immoral, and the Democrats are the only party that can fix it. There is just one problem; it is a fallacy and conservatives better learn the tune if they want to win the next two elections. This theatre of the absurd has three acts. First, confuse economic worth with self-worth and say that pay rates must be equalized to reflect the "equal worth" of every person. Second, say wealth is distributed unevenly, as if by some grand conspiracy. Third, demonize businesses for manipulating pay and degrading human dignity. As this melodrama gathers steam, the liberal curtain call is made to end the injustice of income inequality. If we wanted to quickly destroy this fallacy we could look to Simon Kuznets, winner of the 1971 Nobel Prize in economics for his...(Read Full Article)