Income in America
It’s been awhile since my last note, partly because I’m on vacation. I’m sleeping in late and more or less ignoring the news. But this story on income caught my eye.
The article notes that the combined income of the top 1% or earners in America from 2003-2005 exceeded the combined income of the bottom 20% of Americans.
If you listen to all the Democratic Presidential candidates, they all have plans to increase the taxes for the rich. They veil these theories under the cover of “fairness” but these plans are no more than income redistribution schemes. Remember two things:
- Income is earned, not distributed
- The rich keep getting richer because they keep doing whatever it took to make them rich. Ditto for the poor.
Yes, the rich have the ability to help those less fortunate than themselves. If they choose. But the government shouldn’t require people to help others simply because they’re able to. The solution is really quite simple (aside from the FairTax). I don’t own my own private jet because I can’t afford it. And if you’re stinkin’ poor, don’t pop out five or even one kid that you can’t afford.
The concentration of income at the top is not a problem in the United States. Liberals (and poor people) would like you to believe it is, but it’s not. Poor people are a problem for America. Lazy people are a problem for America. But people earning respectable incomes are NOT a problem for America.