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American capitalism is doing its job in providing opportunity to all -- and deserves credit, not criticism and excessive taxation.

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Is America No Longer the Land of Opportunity for All?

American capitalism is doing its job in providing opportunity to all — and deserves credit, not criticism and excessive taxation.

??For extreme inequality is still on the rise ?? and it??s poisoning our society.?

??Paul Krugman, New York Times, September 12, 2013

I hope you all had a wonderful and a merry Christmas.

During this holiday season, the media and various political pundits have made an issue about income and wealth inequality. ??People are really upset about stagnating wages while the wealthy are getting rich,? a TV reporter told me. ??What do you think is the cause, and what??s the solution?? she asked.

First, it??s true that all the income/wealth data seems to show that the wealthier members of society are gaining faster than the average citizen during this economic recovery. One reason may be that higher-income groups have more of their wealth in the stock market, which has been roaring ahead during the past five years compared to average wages and salaries. Our tax system discourages poor and middle class people from investing by sapping their ability to save through high Social Security and Medicare taxes (over 12% of everyone??s earned income).

Finish reading about why income inequality is not a real problem. You may also want to read how Time blew it when picking the person of the year.

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Written By

Mark Skousen is a college professor, prolific author and world-renowned speaker. He??s made his unique sense of market and investment trends known and respected in the financial world. With a Ph.D. in economics and a focus on the principles of free-market capitalism and ??Austrian? economics, Mark Skousen has often gone contrary to the crowd in his investment choices and economic predictions ?? and has often been proved right.

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archive

Is America No Longer the Land of Opportunity for All?

“For extreme inequality is still on the rise — and it’s poisoning our society.”

–Paul Krugman, New York Times, September 12, 2013

I hope you all had a wonderful and a merry Christmas.

During this holiday season, the media and various political pundits have made an issue about income and wealth inequality. “People are really upset about stagnating wages while the wealthy are getting rich,” a TV reporter told me. “What do you think is the cause, and what’s the solution?” she asked.

First, it’s true that all the income/wealth data seems to show that the wealthier members of society are gaining faster than the average citizen during this economic recovery. One reason may be that higher-income groups have more of their wealth in the stock market, which has been roaring ahead during the past five years compared to average wages and salaries. Our tax system discourages poor and middle class people from investing by sapping their ability to save through high Social Security and Medicare taxes (over 12% of everyone’s earned income).

Finish reading about why income inequality is not a real problem. You may also want to read how Time blew it when picking the person of the year.

Newsletter Signup.

Sign up to the Human Events newsletter

TRENDING NOW:

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Willem van Sprouse Antifa Willem van Sprouse Antifa

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