There has been, for a few years now, a lot of hue and cry
about income inequality. The obvious solution of those who think this is a
drastic problem is to reallocate the funds of those with the most money to
those who have the least. After all, they say, in the richest country in the
world, why should anyone go without?
But wait – why stop there? Why can those in the richest
country in the world not afford to provide for all? And by all, let us be truly
inclusive. The ‘income inequality’ crowd like to crow about the 1%, but fail to
acknowledge that the overwhelming majority of Americans fall within the 1%
themselves. An American with a household income of $37,000 is better off than
99% of people in the world. In fact, according to a World Bank economist, the bottom 5% of Americans are still better off than 68% of the world. Yet we don’t see that same hue and cry to address
this global issue from the folks on the streets wanting $15 per hour as a
minimum wage. Why is that?