Monday, December 30, 2013

Is income inequality a good thing?

Is income inequality a good thing?


How can income inequality be a good thing? Because it is an obvious indicator of the right way and wrong way of going about making a living and living your life!

In relation to income inequality, once again the debate of raising the minimum wage has reared its ugly head. People working in minimum wage jobs want minimum wage to be raised to a "living wage."

What is a "living wage?" Does it mean you can afford an apartment in the slums or a house in the suburbs? You can afford to take the bus to work or buy a car and drive to work? You can pay for food for yourself or a family of four? Are we talking a no-skill job should pay the same as a skilled job?

If you want a better paying job you have to work for it; train for it; earn it. Raising the minimum wage is just trickle-up inflation. The cheapest stuff becomes more expensive and hence products up the cost ladder gradually become more expensive. And since the US dollar is no longer backed by gold, we can just print more to meet the demand of the devalued dollar, which ironically printing more will devalue it even more. ( Yes, it would be best to not print more to keep the dollar strong, but the Feds don't have the backbone to maintain a solid fiscal policy. )

Back to the main point, income inequality is an indicator of the right way and wrong way of going about making a living and living your life. Learn from your mistakes. If you are not making enough money you need to change what you are doing.

Some people will continue to strive to improve, do what is theoretically the "right thing" and still end up poor. Why?

Life is not fair. Sorry, but if you have a problem with that take it up with your god.

Man can not make life fair. Man can, however, help his fellow man; clarification - man can help his fellow man, not government can help our fellow man. Why?

Government elimination of economic inequality requires doing horrible things to the best people. Government has to take money away from those that earned it. Government has to force price controls. Government has to try to make sure everything is distributed evenly. And the talented protest by not producing and we all lose.

For Pete's sake, right now in Venezuela people are producing toilet paper at gunpoint! Do you want that to happen here?

That is a brief on making a living; what of living you life?

In short, do not spend more than you make. Throw out your credit cards. Live in the black, not the red. Live below what you think you can afford.

From here you just need to figure out what to fix in your life equation - how to make a living - living your life.

It just might be that simple.

1 comment:

  1. Attempts to raise the minimum wage are attempts to create a greater army of angry, unskilled drones with no real hope for a better future, perpetually living in squalor and unable to raise themselves up, ready to be motivated by the next emotional argument pitched by the Democrats without engaging their brains first. It is only one step up from those who are totally dependent on government handouts, who get just enough to keep them motivated to hate and to be ready to express that hate on command. Both are beholden to vote Democrat for life. Both wind up continuing to vote Democrat long after they die.