2 ms·
Apologies as I'm not an economist, but one thing that seems wrong/misleading about using the phrase "income inequality" in the media is that it usually follows
by gedy 11y ago
Apologies as I'm not an economist, but one thing that seems wrong/misleading about using the phrase "income inequality" in the media is that it usually follows a populist, single variable: "they have more money, so of course they took it from everyone else!!"
Which implies modern money is a finite closed-system ala the gold standard. It's not, and money is basically created via the Fed, debt, QE, etc.
Seems the real problem is not feel-good bashing and taxing of "high-pay" (which usually just means middle class), but instead the people and organizations that are beyond income such as bankers, banks, politicians, etc. who control that creation and distribution.