09-25-2012, 01:04 PM
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#13
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Hall of Fame Poster
Join Date: Aug 2006
Location: Boston
Posts: 25,277
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Re: Income Inequality Is Worse Now Than It Was During Slavery
People need to consider that in the 17 & 1800's there wasn't a welfare state, easy credit, a fiat currency, massive federal government, big corporations, employee unions, EPA, regulatory xyz, MIC, complex tax code, etc. It was an entirely different world compared to now. Sheer mathematics will always point to a growing gap from the highest to lowest earners. Consider that the starting point will always be, and always has been ZERO. That will never change. From that point the only way is up. We've gone from millionaires to billionaires, and some time in the future we will undoubtedly have our first trillionaire. All the while the base point will still be ZERO.
The real issue isn't the disaparity between rich and poor, as you will always have both. The issue to me is the condition, or prospects, of the largest group which rests in the middle. That's where the focus should be. To me, larger government, the welfare state both corporate and social, and foolish monetary policy are what hurt that group most.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897
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