They argue against the income inequality complainers, but they respond incorrectly.
They argue that there is already a significant amount being done to shrink income inequality:
Any debate about further redistribution of income needs to be tethered to these facts. America already redistributes enough income to compress the income difference between the top and bottom quintiles from 60 to 1 in earned income down to 3.8 to 1 in income received.But this "micromanaging of income equality" answer is not the correct answer if one has in mind an increase in the general standard of living.
As I have explained before, there is nothing wrong with income inequality. In fact, there are a lot of good things to be said for it:
-RW
Everytime anyone mentions income inequality every libertarian should seize the opportunity to have a useful discussion about the federal reserve and resist the opportunity to have a useless discussion about how the invisible hand of the free market allocates resources to optimize blahs blahs blah.
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