December 18, 2013

The Poverty of Income Inequality

The left lives from social crisis to social crisis.

Now it is leaping nimbly away from its last mess, the great crisis of the uninsured (who have decided to stay uninsured despite Obamacare’s fines) over to the great crisis of income inequality.
If you believe the left, the leading economic problem that Americans face today is not a lack of jobs or the cost of living, but a crisis of CEO salaries.

The crisis of income inequality, in which some people make a lot 
more money than everyone else, is irrelevant in an economy where the problem is not that incomes aren’t high enough, but that they don’t buy enough, and that there still aren’t enough jobs at minimum wage or any other wage.

The left’s answer to the high price of medical care wasn’t to discuss why prices were so high, but to wrap the whole thing in a planned medical economy of price controls and resource limitations administered by death panels whose existence they deny.

Its solution to cost of living issues is to raise the minimum wage. That’s a slogan that sounds good, because everyone knows more money means more money. At least until you remember that the dollar, like an Obama promise, has no absolute buying power value. And the availability of jobs isn’t a fixed value either. Raising the minimum wage eliminates jobs and raises the cost of living so that those who keep their jobs now have more money that buys the same amount.

The left’s agenda isn’t to make life better for the people at the bottom of the economic ladder. It’s to build up their planned economy with failed solutions that aren’t meant to solve anything. The left’s solutions don’t work, because the problem they’re solving isn’t economic inequity, but their own lack of absolute power. And they solve that with economic solutions that fail, necessitating more power grabs until they have complete control.
The progressive solution to income inequality is government intervention. But when has centralization ever produced income equality?

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