The statists are making a big issue out of income inequality, hoping to convince ordinary Americans that redistribution is their only hope for a better life.
I’ve explained with a pizza analogy that this is horribly misguided because it falsely assumes the economy is a fixed pie.
Simply stated, it doesn’t make sense – or help anybody – if inequality is reduced by policies that hurt everyone, but happen to hurt upper-income people more than lower-income people.
Moreover, redistribution tends to create a “poverty trap” as people get seduced by dependency.
That’s why I’ve argued that economic growth is the best way of helping the less fortunate.
But I have to admit that Margaret Thatcher does a much better job of eviscerating the left’s agenda on this issue..... MORE HERE
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