If Margaret Thatcher was right, leftists are motivated more by hatred for the rich than by love for the poor. Some fascinating new research totally debunks the Left’s fantasy narrative on inequality
The proper view on inequality is that it doesn’t matter. That assumes, of course, that people are earning their income honestly rather than via government-enabled cronyism.
To elaborate, some people will become rich in a system of honest and competitive markets, but that’s not at the expense of the poor. Indeed, the talents and skills of top investors and entrepreneurs generally make life better for the rest of us.
So if we want to help the poor, we shouldn’t attack the rich. Instead, we should pursue policies that will allow faster growth. That benefits everyone, particularly those on the bottom of the economic ladder (though there also are some specific policies that are disproportionately helpful to the less fortunate, such as school choice).
Unfortunately, there are many leftists who genuinely seem to think the economy is a fixed pie. And they seem impervious to all the evidence that free markets and small government are the way to achieve broadly shared growth.