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RE: A short video on the reality of wealth distribution in the US

in #economics8 years ago (edited)

There's a lot of discussion about wealth distribution obviously; the problem is that stuff like this video do not talk about the Laffer Curve, quality of life vs. standard of living and how the fact that this country's focus on the standard of living rather than the quality of life has actually raised the quality of life even though it creates a bigger income gap between the richest in that society versus the poorest in society.

Its a good political talking point though because most people are not educated enough in basic economics to understand how they relate to each other and how incredible the achievement is (that our standard of living is so insanely high in this country that its actually affecting the quality of life in a positive way rather than fighting against it like in other countries).

Its awesome stuff, although this media push on income inequality between the richest of the rich and the poorest of the poor (further exacerbated by socialist-progressives) could undermine everything we've accomplished in that arena, and with that it could go extinct and be a footnote in history that we had it all, then lost it.