Two Must-Reads on Income Inequality

These are both good, exceptionally good. Brief and well worth your time.

Liberal Programs Deserve Blame for Income Inequality – Reason Magazine: “If liberals accept the market’s productive capacity but reject its distributive verdict, it’s because they think of the market as an abstraction that spews out wealth like a spigot, with who gets what being completely up for grabs. Rich people get more, they believe, because they are more skilled at clawing their way to the head of the line. But in functioning markets, there is a connection between creating and gaining wealth.”

Re: the 1%, not everything you’ve been told is true.

The Real “1 Percent” – Cato Institute: “So just who are those top 1 percent of Americans that we’re all supposed to hate?
If you listen to President Obama, the protesters at Occupy Wall Street, and much of the media, it’s obvious. They’re either “trust-fund babies” who inherited their money, or greedy bankers and hedge-fund managers. Certainly, they haven’t worked especially hard for their money. While the recession has thrown millions of Americans out of work, they’ve been getting even richer. Worse, they don’t even pay their fair share in taxes: Millionaires and billionaires are paying a lower tax rate than their secretaries. In reality, each of these stereotypes is wrong.”