Tag: Wealth Inequality

Member Post

 

So I turned to the members feed of Ricochet to feast my eyes. Yesterday was a good day for comedy, so why not push my luck? I see an article that starts with a startling claim. Progressivism is nailed to the cross of wealth inequality. This is the problem with Progressives! They don’t get that […]

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Hillary: Sanders Plan for US Billionaires to Self-deport “Unworkable”

 

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BURLINGTON, VT — Delivering a speech on income inequality yesterday, presidential candidate Bernie Sanders (Workers Party, Vermont) called on US billionaires to self-deport. “We’re not going to round them up” said Sanders. “The answer is self-deportation, which is people deciding they can do better by going elsewhere due to a draconian tax code.”

Sanders’ presidential rival Hillary Clinton sharply criticized the proposal, calling self-deportation “unworkable.” Ms. Clinton went on to ridicule the notion that the authorities are going to “round up the 537 billionaires living in America’s shadows and put them in electric cars and private planes bound for a friendlier tax environment. Where are these people expected to go?” asked Ms. Clinton rhetorically, “Switzerland?” Ms. Clinton then painted a chaotic refugee crisis in which undocumented billionaires and their families are forced to traverse the uncharted private airfields and ski resorts of Zurich, Vail, and St. Tropez.

How to Discuss Wealth Inequality with Your Butler

 

shutterstock_117500908Gone are the days when a man could enjoy his gold plated garbage can and $6,000 shower curtain in peace. The only thing that sours my caviar faster than a discussion on wealth inequality is how badly our side responds when it is brought up.

Why are we always on the defensive when discussing these gaps? In my experience, our responses follow one of two patterns:

  1. Trying to explain that wealth distribution is not important because even the poorest in America live relatively well compared to world standards. If James Pethokoukis wants to have an academic discussion on this in the halls of Ricochet – go for it – but it is a political loser. It may have worked back in the Nineties when all income levels were rising but, with those on the lower side stagnating or falling, it does not message well.
  2. Having tactical arguments with the other side on stupid programs that focus on symptoms. They bring up raising the minimum wage or increasing capital gains taxes and we respond that it would hurt the economy. This may very well be true, but it plays into their game on their turf and makes us look like we are backing up the trust fund kids living off their portfolio dividends.

My recommendation is to end the defensiveness and attack the other side’s ultra-loose monetary policies that lead to wealth disparity. These policies have this impact for several obvious reasons.