Progressives decry inequality as the world’s most pressing economic problem. But why is inequality an economic issue? This article talks about inequality and if its really a bad thing or if its somewhat a good thing. Think about a class of 10 students say all the students have the same opportunity to get an A. lets say 5 do the bare minimum and get a C, 4 give an average amount of effort and get B's. one student goes above and beyond and gets an A+. So is it really the student who got an A's problem to make sure everyone else gets a good grade no? Is it the teachers fault that some of the students didn't give any effort to the class? no?
So what I'm trying to say is that everyone starts off equal its just that some people put forth more effort. The article talked about People who can use or program computers, do math or run organizations have enjoyed relative wage increases, so why don't people get these skills to get higher wages? A big reason: awful public schools dominated by teachers unions, which leave kids unprepared even to enter college. Limits on high-skill immigration also raise the skill premium.
http://online.wsj.com/articles/john-h-cochrane-what-the-inequality-warriors-really-want-1416442460
Inequality is something that cannot go away. I do think, though, that the upper class should be taxed so they cannot break away so much from the rest of the population.
ReplyDeleteThe upper class should be taxed more, It would boost our economy so much. It is sad that hard working people get taxed as just as much as the higher class, it is ridiculous.
ReplyDeleteI disagree with this man's reasoning behind income inequality.
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