Let me start by stating that the very term “income inequality” is a bogus term. When, since the dawn of capitalism, was income ever designed to be “equal”?
If a secretary at a business makes $45,000 a year, but the CEO pulls in $1,750,000 during the same period, the left summons up their bogeyman of “income inequality” to exact punishment.
For what exactly?
The left puts forth only one solution to this made up crime: increased taxation. What they do not want the public at large to know is that you cannot increase the income of the citizenry through the imposition of the wealthy. Even if this could be attempted after confiscating income through force and then dispersing direct payments of cash to the citizenry, it would be a temporary measure at best.
Let‘s look at it. Say the progressives’ gets their wishes to come true and they pass a top tax rate of say, 90% to the 1% of earners. How does this transition a working-class laborer with a family of four making $30,000 a year into a middle-class income bracket? It won’t. It can’t.
Increased taxation on the wealthy will never increase the wealth of the working class. The government cannot create an increased middle class by edict.
If you were to ask the average collegiate Bernie Sanders fan how increased taxation of the wealthy will cure “income inequality,” the chances are that they will state that the money garnered from such can be used to fund programs to lift up the income of the working class.
Really? How? Free college? OK, after receiving your free college degree, then what? You become magically middle-class? Silly rabbits! Employment for recent college graduates is plummeting. So let’s go ahead and just create millions more, right?
Another falsehood that big corporations and their CEOs are to blame for “income inequality” is another odious charge. Small businesses create most jobs. Take a look at Bernie Sanders website. Look around for how he will help small businesses through decreased regulation and taxation. Not a mention.
His (and Hillary’s) solution is what the progressive statist always falls back upon — more government. Sanders’ solution is to “provide” 13 million jobs via his Rebuild America Act. Don’t want a job in construction? Too bad. When the government is the job “creator”, you’ll take what they offer or go to the bread line.
I wonder what the soon-to-be graduate with a degree in multiculturalism thinks about those cool jobs working on a decaying bridge proposed by Bernie. Something tells me that a pajama boy with a recently acquired BA in “LGBT rights” will regard the offer itself as a microaggression. Too bad for him that there aren’t any safe spaces on a decaying bridge.
Without a plan to help small business grow and thrive, no program offered by any politician, right or left, will contribute to increasing the middle-class and raise wages overall.
A thriving small business segment of the economy is the only way to “raise all boats”.