The Democrats’ big new issue is “income inequality.” What they are referring to is that wealthier people are benefiting more from the current economic growth than those with lower incomes and that there is a growing economic gap between the two. The Democrats want to address this with such policies as raising the minimum wage. But surely adopting those policies, which might be worth doing, would do little to make incomes “equal,” would it?
If the problem is “income inequality,” asks Kathleen Parker, is the solution “income equality”? Is the idea really to work towards everyone having the same income? If that were to happen, would that be a good thing? [Read more...]