Fallacy of the excluded middle much? We can (and should!) aim for a situation between the two you have described. And in any case, your proposed model isn't wor

Fallacy of the excluded middle much? We can (and should!) aim for a situation between the two you have described. And in any case, your proposed model isn't working: everyone else has had stagnant real wages since the 1970s. And income inequality actually is a problem even in and of itself, even without reference to absolute living standards. There's an increasing body of research that higher inequality in a society lowers happiness and increases resentment, ultimately undermining social cohesion and trust in government.