Income inequality has become a hot button issue in this last decade. Concerns range from the idea that it will destroy civilization to simply "It just isn't fair!"
Well, this episode will present four common claims about how income inequality is "unfair" and answer them"
- The rich are getting richer and the poor are staying poor.
- The United States is the worst offender for income inequality.
- The poor and middle class are being cheated out of much of the wealth their labor creates.
- Economic growth that fuels income inequality leaves the poor behind.
US Census Bureau, "Income and Poverty in the United States: 2019"
Phil Gramm and John F. Early, Wall Street Journal, "The Myth of American Inequality"
MacroTrends, "Walmart Net Income 2006-2020 | WMT"
Walmart, "Company Facts"
Kim Souza, Talk Business & Politics, "Walmart’s top five executives earned $68.73 million last year"
The Financial Express, "Growth fuels income inequality in Bangladesh"
Manuel Hinds, Quartz, "Inequality can be a good thing"