occupied
Diamond Member
- Nov 8, 2011
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Income inequality and fixing it.
Two years ago I was in an art show. Some people won awards and some didn't. Some of the paintings were sold with purchase prices going from $3,000 down to $50.00.
An unhappy person wrote to the show organizers and complained about the inequality. Her suggestions were: Everyone get the same "participation award" eliminatiang First, Second, Third and Best in Show. The total of the purchase prices of all paintings sold be divided according to all artists in the show and distributed among them to equalize the benefit whether or not they won anything or sold anything.
This is the meaning of income inequality and the essence of income redistribution.
Income redistribution is not the goal for those of us actually concerned about income inequality so much as accountability. In a free society power must carry with it responsibility and yet conservatives seem intent on ridding the financial elite of all burdens of taxation, legal liability and regulatory constraints and create a true aristocracy accountable to no one.