Posted on 06/13/2014 3:40:01 AM PDT by markomalley
Several recent studies of economic “inequality” have confirmed that 1% of the U.S. population holds roughly 38% of the nation’s asset wealth. In addition, 1% of U.S. households earn roughly 17% of all pre-tax income. And although these inequality findings are hardly new information for most economists, whether the inequality gaps have been widening or whether they hamper economic growth is still controversial.
There is some evidence that the wealth and household income gaps may have widened in recent years, but the long-run trend is unclear. Data from 1917 to 2012 demonstrate that wealth and income disparities rise and fall over time. More importantly, there seems to be no obvious correlation or cause-and-effect relationship between widening inequality and, say, periods of sluggish economic growth. In short, the U.S. economy has done well with wealth and income inequalities that both expand and shrink.
Interestingly, most of the current concern over wealth inequality relates not to economic matters per se, but instead to matters of so-called “social justice.” That concern is expressed as a kind of moral outrage that some (few) individuals and households are very wealthy (and growing more so) while those at the bottom of the wealth rung (the many) are far less well off. Indeed, even Pope Francis has recently expressed the belief that this extreme wealth disparity is morally unacceptable and that a so-called “legitimate redistribution” in the name of social justice could be justified.
This, of course, raises the question as to what is legitimate wealth accumulation in the first place, and what, then, would constitute a legitimate redistribution. I maintain, contrary to current critics, that legitimately acquired wealth is any wealth obtained through voluntary, non-fraudulent trade and/or through inheritance...
(Excerpt) Read more at americanthinker.com ...
Shame that this little teaching is neglected by most so-called "moral leaders."
Popes have railed against socialism for over a century, specifically pointing out that it robs workers of the fruits of their labors.
The worst income disparities, at least in the US, are to be found in the “Bluest” states. I may be incorrect, but I seem to recall that the degree of disparity was directly proportional to the amount of “blueness”.
“Redistribution Is Theft”
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Of course, but you can not tell that to a Communist.
They espouse old Marxist logic...From each according to his ability, to each according to his need.”
Common logic says that it is faulty to believe that someone else should provide for your needs. That is against all of the laws of nature.
The only exception is for one who is sick or disabled.
That is up to charity foundations.
Wow, just WOW!
BUMP
The wealthy didn’t get that way at my expense. What few socialist understand and none will admit is that wealth is created. I would estimate that the earth is easily twice, perhaps three times, as wealthy as it was in 1950. Socialism depends on the lie that there is only so much to go around and we must fairly distribute it. Willie Sutton was a fairly successful socialist theorist.
Socialism leads to the situation where almost everyone is poor, and only the handful that hold power are rich.
If one truly supports income equality, one would support capitalism, where people earn an income commensurate with their education and experience. In such a system, most people end up somewhere between the extremes.
“Every election is a sort of advance auction of stolen goods.” - H. L. Mencken
If you believe Abraham Lincoln, redistribution is emancipation
.
“Socialism leads to the situation where almost everyone is poor, and only the handful that hold power are rich.”
Just like Stalin, Lenin, Pol Pot, Ho Chi Minh,
Mao Tse Tung, Adolf Hitler and all their cadres that have propagandized, lied, and stolen their way to power, control over and murder of the “masses”. (And soon to be added to the list of scu&bags is the Progressive party of the United States.)
IMHO
And more seriously, it robs one of "free will", the very thing that can win redemption for lost souls.
Socialism is truly a tool of hell.
Not our current Pope Peron I. He learned well from Argentina’s peronistas.
“Not our current Pope Peron I. He learned well from Argentina’s peronistas.”
Wealthy people should fear the words of Jesus concerning wealth, not what the Pope says. I’m having a hard time separating what the Pope said and what the secular media pretends he said...
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