The Ava factor is hilarious, the funniest thing I've read in a long time.
The Ava factor is hilarious, the funniest thing I've read in a long time.
Despite overwhelming "statistics" to the contrary I'm forced to conclude that inequality itself really doesn't make much difference. Poverty, however, does. We need to raise the floor rather than being so obsessed with how high the ceiling goes.
That makes a lot of sense to me. However, I doubt you'd be able to get the diehard class warriors to agree. I've heard it said that the 1% fetish is very attractive from a sustainability standpoint. No matter how many economic enemies get disgusted and leave the country, there will always be a top 1% to rail against.
Romney shot himself in the foot with his $10,000 bet on national TV. Many people do not make that much money in a year and it showed real income inequity on national TV.
I think the issue gets muddled by calling it income inequality - I think the main concern (at least my main concern) is the floor is being lowered in the US and Europe. Which I think is moving us to 3rd world standards - a small very wealthy class, a small middle class and a huge sea of poverty.
If that's what everyone wants, fine. It works that way in a lot of countries. But things are going to look very different here - you can't drive a consumer based economy with a tiny pool of consumers. Or support a 1st world infrastructure on it.
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