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The Five Biggest Myths
About Income Inequality

Forbes Magazine, by John Goodman

Original Article

Posted By:Scottyboy, 1/2/2014 12:45:51 PM

“Inequality is the defining challenge of our time,” according to President Obama. It’s certainly the topic of the day for Paul Krugman, Joe Stiglitz and a whole raft of liberal pundits. But have you noticed that hardly anyone else is talking about it? When is the last time you heard a shoeshine person or a taxi cab driver complain about inequality? For most people, having a lot of rich people around is good for business. But if average folks are not complaining should they be? Is Poverty Really The Result Of Bad Luck? John GoodmanJohn Goodman Contributor It´s Not Just Healthcare.gov, Obamacare Will Soon Create

Comments:
It´s really a shame an article like this needs to be written at all.
The rudimentary, fundamental, common sense understanding of economic reality that almost all Americans once understood by the time they became adults has been replaced by this idiotic class warfare clap-trap thanks to 0bama, the Occupy Wall Street type morons he inspired and other assorted misinformed Progressive troglodytes.

      


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Reply 1 - Posted by: pineledger, 1/2/2014 12:55:35 PM     (No. 9676847)

#1 Most Destructive President in US History.

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Reply 2 - Posted by: SaguaroJack, 1/2/2014 12:58:48 PM     (No. 9676853)

"Inequality is the defining challenge of our time"

Yo, prezzy! You mean it´s, like, the Moral Equivalent of War?

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Reply 3 - Posted by: hoosiergirl71, 1/2/2014 1:23:41 PM     (No. 9676876)

Re: OP´s opinion, You can blame our schools for no longer teaching facts, Civics, American Free Market principles, as they dumb down our kids to better turn them into fodder for the ´new´ way of governing.

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Reply 4 - Posted by: Redneck In NY, 1/2/2014 1:39:59 PM     (No. 9676895)

Equal opportunity, not equal outcome has lost all meaning...

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Reply 5 - Posted by: mamafrog, 1/2/2014 1:40:50 PM     (No. 9676897)

The upcoming conflict between the rich and the poor is not going to be pretty. The rich keep getting richer and there is an ongoing effort to end or control programs like social security, medicare, pensions, military retirement, public schools and food stamps. I don´t think we can predict who the winners and the losers will be.

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Reply 6 - Posted by: bpl40, 1/2/2014 1:54:36 PM     (No. 9676913)

There are some very basic, almost anthropological reasons why income inequality is rising and will continue to do so.
We (esp in the West)are rapidly passing into a knowledge based economy. Physical labor required to produce food and necessities is being taken over by smart machines. Human intervention rapidly declining. The ability to perform physical labor is a lot more evenly distributed than the ability to acquire, synthesize and use information. This skewed distribution (yes, race does play a part) will naturally drive income and wealth accumulation into the higher (as defined by intellect) strata. There is no exploitation, repression or depriving involved here. Just Nature taking its course.

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Reply 7 - Posted by: Redneck In NY, 1/2/2014 1:59:43 PM     (No. 9676917)

Hold up #5, the only "rich" that are getting richer are the crony capitalists that are in cahoots with politicians. Using a bit of insider trading via politicians letting them know which way a bill will go so that they may invest/sell accordingly. In return, the politician gets enormous kickbacks, campaign $$$$, or a future "board" position with a subsidiary of said company.

The private sector wealthy, are actually losing money. Faced with increasing costs due to government strangulation, they must cut and run, usually losing alot of moola.

So knock off the class warfare crapola, it doesn´t fly here.

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Reply 8 - Posted by: Clinger, 1/2/2014 2:29:19 PM     (No. 9676959)

And the #1 myth: The quality of life for the lowest quintile is worsened by the gains of the rest of society.

Take a tour of the world and you can find real squalor correlating to a high degree of income equality, excluding the sub 1% supreme upper elite.

North Korea, lots of equality right there.

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Reply 9 - Posted by: Hotrod, 1/2/2014 2:48:36 PM     (No. 9676988)

What the left doen´t understand is the fact that to have a better income, a person has to make themselves worth more to employers.

You can´t just be a warm body and expect to be paid more for existing (maybe for selling your vote, but not just existing.)

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Reply 10 - Posted by: eorsc, 1/2/2014 2:53:49 PM     (No. 9676991)

What ever happened to "work for a living"? It has come to the point that my great grandchildren, whose parents work, have no dental care and need braces. The neighbors down the street make more on welfare and also had the children´s teeth straightened on our dime. We absolutely have to get back to WORKFARE. Yes I do resent it now. I have no problem with ill or disabled or old getting help. Otherwise welfare should merely be a leg up to working for a living. I have helped my large family before, and probably will again, but I worked all my life and NEVER ate from the trough.

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Reply 11 - Posted by: TunnelRat, 1/2/2014 3:44:02 PM     (No. 9677047)

"Bottom line: the next time you hear someone complain about inequality, make sure they are not repeating these five myths."

Sorry, but nobody I know ever mentions these five myths. I only ever hear about such things on the evening news...

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Reply 12 - Posted by: snowoutlaw, 1/2/2014 4:20:52 PM     (No. 9677100)

No one gets rich by working for someone else. One has to save and invest but so few do, most consume now everything they earn. This makes sure they can never get ahead unless they win the lottery.

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Reply 13 - Posted by: nascarfan, 1/2/2014 5:01:32 PM     (No. 9677137)

If you took all the money in the country and divided it evenly, in one month the financial situation would be about the same as it is today. Some people are better with their money than others.

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Reply 14 - Posted by: Country Boy, 1/2/2014 5:27:00 PM     (No. 9677162)

And the doofus (obama) would have to make $5Billion/year to be living the lifestyle that he has.

HE IS THE DEFINITION OF INCOME INEQUALITY.

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Reply 15 - Posted by: ColonialAmerican1623, 1/2/2014 10:55:19 PM     (No. 9677507)

"Having children without a father tends to make you poor."

Not exactly. Many unwed mothers will tell you otherwise. The more kids, the better the benefits and the less likely they are to work. A cottage industry without unemployment.

Back in the ´old days´ those less fortunate looked up to the wealthy and aspired to become wealthy themselves and didn´t whine about inequality. They knew if they worked hard they would have a chance.

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