Income Inequality: Fretting over Success

[Valin]

The Foundry:

Rich Tucker

January 28, 2013

 

World elites are worried about something that, in and of itself, is not a problem: income inequality.

 

(Snip)

 

Income inequality is, according to the study, a bigger problem than food or water shortages, communicable diseases, or “major systemic financial failure.”

 

It would be tempting to stop right here and cheer. Some people are going to make more money than others in the years ahead; we already knew that. So where’s the problem?

 

But this has become a cause célèbre for influential liberals. “The non-partisan Congressional Budget Office reported in 2011 that between 1979 and 2007 the top 1 percent of households saw their income grow by 275 percent, while for the bottom 20 percent, income grew by just 20 percent,” CNBC reports. “For the middle 60 percent of Americans, average incomes grew just under 40 percent.”

 

Again, where’s the problem?

 

(Snip)

 

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When CGP was going the left there was always getting all worked up about this. I could (and still can't) figure out why this is a problem.

[clearvision]

Interesting that they stopped in 2007 with their numbers, not the the general trend isn't likely true.