Thus, there is nothing, absolutely nothing, that can be done to equalize relative incomes, at least over time. The 80/20 split is like a gyroscope. You can push it one way or the other, but ultimately there must be a correction.
So, if we can't have relative equality, then what can we do? Well, what we can do is concentrate on economic growth. Imagine a world where, all other things being equal, the total World Product of goods and services is ten times what it is now. In that world, even the poorest of the poor in the poorest third world country would have plenty to eat, decent clothes to wear, decent shelter, access to basic services like primary education and healthcare. If we grow enough and everybody has more than enough, who cares if the top 1% have gotten so rich that they're spending their money on vacations to the Rings of Saturn?
Liberals! Stop caring about who has more than you and start caring about making everybody's cup run over via strong and sustained economic growth.
So, the question arises, how do we achieve economic growth. Simple. Let the people who produce wealth KEEP IT, at least the lion's share of it. End the personal income tax. Stop the war on coal. Facilitate trade. Strengthen property rights throughout the world. Make it easy for anybody to start a business, hire and fire employees. Et cetera. In short, allow the natural economic aristocracy to emerge and maintain control of the economy.
Get things moving!!!
Under the rule of 72, if we could just achieve like we did in the 1990s 6% growth and keep it there for 24 years, the today's bottom 80% would be living like today's top 20%. Wouldn't that be great?
But liberals say no, that wouldn't be nice at all. Because for liberals it's not about people have full rice bowls and decent clothes, it's about liberals using the political process to thrust down the natural economic aristocracy of real producers and replace their mediocre selves in their place, thus destroying growth potential and impoverishing the world.
And that's why I despise all Democrats.
Agree.