I think your definition of “income inequality” is simplified. There will always be differences. The issue is when a small portion of those earners have income increasing significantly and the largest portion are seeing incomes decline, it’s going to cause problems in the economy. The top 10% cannot sustain the growth of the economy.
Now many leftists think the so,union is to raise taxes. That’s just stupid. The problem is growth. As we’ve discussed numerous times growth is decidedly insufficient due to the regulatory and fiscal environment.
As a nice byproduct, growth solves the long term fiscal issues as well. We absolutely cannot cut spending enough to solve them.
This goes along with what you are saying. The regulatory burden is crushing small banks and small businesses.
Where Have You Gone, George Bailey?