June 10, 2005
Coyote Blog on income disparity
Coyote Blog (which I highly recommend, as it has recently become one of my daily reads) has an excellent post on income disparity. It seems that some numbers suggest that the rich are getting richer at a faster rate than the poor are getting richer. While some others have disputed the numbers and methodology behind them, he asks:
Lets accept that the very very rich are getting richer. So lets move from there to the question of…
“so what?”
The Times is a little weak on the “so what”. I presume that in their intellectual-statist readership, it is an axiom that rich people suck and rich people getting richer sucks more. However, it is possible to pull out four things the Times extended editorial-masquerading-as-a-news-story finds bad about increasing income inequality:
1. As the rich get richer, there is less money left for the rest of us
2. The process of the rich getting richer reduces opportunities for the rest of us
3. Having very rich people around make the rest of us feel bad
4. The rich are only getting richer because the rest of us are subsidizing them through tax policy
He continues to explain each individual point, and why they are not worth worrying about. Then, he quotes some Rush lyrics, which is really the reason I linked him. All in all, a great read. Check it out.
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You know, tonight when I paid for dinner, the total came to 21.12… and I thought how cool. Then I see that you are a Rush fan… and I think, how very cool. Sweet, and Coyote is a very good read. Must add him to me links.
Brad, I went and read the article and I agreed with his points. The socialist have a hard time with people who make more money than them. If we didn’t have these rich people, then their would be a lot less jobs for the average person. Free enterprise, that’s what it’s all about.
Click on my name for the Big Picture view of “GAPS BETWEEN RICH AND POOR”, as I said once before a long, long time ago. Or did I?
Those Rush lyrics are spot-on. I’ve been a fan since the 80s and I’m glad to hear that I’m in good company.