Tuesday, March 22, 2016
On the Fact that (According to a University of Michigan Study) the Income of the Actual Families in the Bottom Quintile in 1975 Had Risen by a Whopping 2,200% (from $1,263 to $29,008) by 1991 and Only About 5% of Those Families Had Not Risen Out of that Quintle
The income inequality "issue" is nothing more than a numbers game that's being played by brain-dead, cynical, and economically illiterate politicians who's solitary goal is to buy votes and stoke up resentment. The fact of the matter is that one of the main determinants of income inequality is age and unless Bernie Sanders can make that go away he isn't going to accomplish jack-shit - http://www.canada.com/story_print.html?id=df2d8cb1-44d4-4426-b438-0aa24ea47f70 - P.S. And as I've pointed our before, the Sanders "strategy" of taxing the rich and increasing entitlements wouldn't technically move the needle in that most income inequality stats do NOT include transfer payments and are based on pre-tax earnings.......Now, if the left would be willing to admit that taxes on income retard incentive and that the earners at the upper end will simply alter their behavior and earn less (or maybe even more away), yes, they might be on to something (and by something I mean something that would seriously harm the economy).