Thursday, August 01, 2013

The morality of income inequality

No surprises here:

Americans know they live in a two-tier country -- one where the uber-super-ultra-rich are leaving the rest of us behind; where, as Michael Moore famously put it, 400 of the richest people control the same amount of wealth as 150 million others; where, as President Obama said in a speech on Wednesday, the "average CEO has gotten a raise of nearly 40% since 2009, but the average American earns less than he or she did in 1999."

 The fairness gap is the basis for a wide range of policies, from the tax code to education; health care to the minimum wage.

 If the rich making more will help the poor be better off, too, that's cool. If not, it's unfair, or amoral. For real-world reference, here's a quick look at CEO pay in the United States, from the AFL-CIO: The average S&P 500 CEO compensation in 2012, according to that labor group, was $12.3 million. A worker? $35,000. Do the poor benefit from that disparity? Does everyone? Anyone?


No comments: