Posted on 01/30/2014 7:21:03 AM PST by SeekAndFind
In his State of the Union Address on Tuesday night, President Barack Obama is expected to take sharp aim at wealth inequality.
He'll propose a hike in the minimum wage, extended unemployment benefits, and more funding for education and skills improvement.
He is also likely to contribute to several persistent myths about the increasing gap between the rich and everyone else.
There is no question that income inequality in America is high compared with other countries as well as with the three decades in the U.S. after World War II. And a consensus is growing among business leaders, politicians and even conservatives that more must be done to help those at the bottom better adapt to a more global, technology-driven world.
But as the country wrestles with one of the most fundamental issues of our time, three key myths beg to be corrected.
(Excerpt) Read more at cnbc.com ...
Do the claimed figures on inequality exclude the taxes paid by those at the top and welfare received by those at the bottom? If the leftists say “things are unequal and that money must be redistributed” and tax the rich to give to the poor, but doesn’t count that redistribution as solving the inequality then inequality as calculated will get even worse as those at the bottom work less to get more welfare, while some at the top will have to work harder to earn more to overcome the taxes (or just shrug and slide on down the Laffer curve to a nice untaxed vacation rather than working for the government).
It’s easy to debunk myths because they are myths. How about dealing with the realities?
The job exporters have their allegiance to money not the country. Tough if that means American are unemployed and in recession and the government must increase taxes to support them and create a welfare class.
bkmk
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