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Author: Jim2B Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 740379  
Subject: Re: The folly of income inequality worries Date: 3/21/2014 3:11 PM
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The chart on p. 174 is especially interesting in comparing the level of income inequality in various countries (mainly Western European countries, Japan, the U.S., Canada, Australia, and New Zealand). There is a pretty straight line from low inequality and low level of social problems up to high levels of inequality and high levels of social problems -- although the U.S. is almost "off the chart" here with high levels of both.

The underlying assumption of the liberal argument is that income inequality comes about because greedy people steal all the money from poor people.

People (usually) get wealthy by providing a goods and/or services that are in high demand better than anyone else. Usually this means providing better value for people's money. Providing a better value is wealth creation (you get something for less money means you have more money for other things).

On average, a wealthy person gets wealthy by making the people around them wealthier. Liberals want to deprive these people of resources.

A person becomes poor because they don't earn enough to replenish what they consume in keeping them alive. Using short hand, they destroy wealth. Liberals want to give the countries resources to these people.

At the core of the liberal premise, is that the country would be a much better place if we took resources away from people generating wealth and gave it to the people destroying wealth. If we could only do that, the country would be a much happier place.

This experiment has been tried many times and many places, most recently in Venezuela. Just like goofy, culcha wants to use socialism to fix the country's problems. He can't be bothered to actually see what the results of socialism are.
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