"That's Socialism!" O'Reilly Takes On Professor Over Income Equality | Fox News Insider
I don't always agree with Bill O'Reilly, but he is the more saner of the chit-chatters, and he usually does have some common sense, here is a clip that shows why we should never want to have a "Professor" in any position of authority.
How are we defining "income inequality"? Are we speaking of the difference between the quantity/quality of work produced and the pay provided? Or are we speaking of the difference between the incomes of different people?
The latter is not a problem. It would be like saying we have to address the water-level inequality in a flowing stream. Without income inequality, the economy would grind to a halt in short order. Without income inequality, where would be the incentive to improve one's lot? And without that incentive, where would come the people to replace the old and retired?
I'm frequently amused by these progressives who really think the economy should be like a lake; still, unmoving. Instead of a flowing, crashing river of dynamic activity.
For this reason I agree with progressive taxation, i.e. the rich paying more. This is a good idea, but it's only so helpful. It won't lead to income equality. In the end providing a product or service that someone else wants is all that matters. No central system can rejigger everything so all that humanity produces is shared equally.
A flat percentage of income or sales, preferably the latter, is the only just taxation. If you make more, it should be because you produced more. You shouldn't be punished for producing more.
I don't see how dollars become less and less useful as we get them. The more dollars we get, the more horizons open up as to what we can purchase from them. For $5 I can buy a meal at McDonald's. For $50 I can buy a steak dinner for myself and 2 friends. For $500 I can host a party.
For $5,000 I can buy a used car for basic transportation. For $50k I can buy a top-of-the-line car or an RV or a boat or a light plane. For $500k I can buy an executive plane, maybe a jet. for $5m I can definitely buy a jet.
So I don't see how money becomes less valuable the more of it you have?