Thursday, March 7, 2013

Wealth Inequality

I just saw a post on facebook with a link to this video (http://mashable.com/2013/03/02/wealth-inequality/) describing wealth inequality in the U.S.. It was under a cartoon describing the evils of socialism. It was a appropriate that it was a cartoon because the logic was cartoony.

The common argument is that doing anything about wealth inequality is equal to socialism. It is not.


  1. I am not in favor of any more socialism in the U.S. than we already have. Yes America is socialist to an degree. If you don't know that you might check the definition of socialism, and then look at programs like Social Security and Medicare and charging oil companies nothing to drill on public land.
  2. Creating more wealth equality does not have to come through socialism or "redistribution." It comes through making the rich play by the same rules as the poor and middle class. This huge increase in inequality in the last 30 years did not come about because the super rich worked that much harder. They have gamed the system! Their lawyers and accountants have figured out every loophole, and when there weren't enough loopholes they got Congress to create more. They are truly playing by a different set of rules.
  3. So how do we level the playing field? We could start with a progressive tax with no deductions for anything. Most people could pay a lower rate because closing the holes would raise more revenue. Every person and corporation pays the same rate at each income level. Eliminate the Capital Gains rate and tax everything as income. No moving money offshore to evade. If you live in the U.S. you pay on any money you make in the U.S. or bring into the U.S..
What are your ideas? Let me know if you think I got it wrong.

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