Readers: See the article attached, The Inequality Myth - WSJ.com. An amazing editorial.
That’s simply hogwash. Most of the cab drivers and others in not-so-well-paying service industries I speak with are taking classes in skilled industries, such as electronics and technology, and they, too, in a couple years, will jump into the next bracket.
Unfortunately, since the median rarely shifts (roughly the same number of people remain in this group year over year, and despite the shifting into and out of it), most people don’t read into the numbers, and regular people assume that the poor always will remain poor. This article disproves this theory as stating that people are always moving into and out of this medium.
Moreover, could you honestly imagine the “dream” of Hillary to make everyone earn the same through income redistribution? For Pete’s sake, there would be no incentives! Who would want to work when your better ideas or harder work produce the same salary as a fry cook?
We all have our place in life. Courage and intelligence prompt more gifted people to work even harder and make the world just that much better (including themselves and their families). It’s capitalism at work. The hardest working shall be rewarded more than those who don’t produce as much. The person with the most new and exciting idea will reap the benefits of being there first. Investors who place money at risk should pay little, if any, taxes on the capital gains they receive. The easiest way to grow this process and make it fair for everyone is to allow these incentives to remain.
I welcome thoughts and opinions on this topic and the editorial.