Will Taxing the Wealthy Really Fix Income Inequality?

wealth-gap-converted

If you pay attention to any political programs or follow any news about the economy and taxes, then you no doubt have heard plenty of debate regarding income inequality. The fact is there is a lot of income inequality in the country. Whether you side with the haves or the have-nots, the fact remains that those on each side of the argument feel they have the right answers.

According to democratic philosophy, the argument goes that if you want to fix income inequality then you have to raise taxes on the wealthy and give more of that money to the poor or middle-class. It might sound like a good plan on the surface, however, a new report shows that in reality, if you really want to close the income gap between the wealthy and lower income classes, then policy changes are much more effective.

That’s right. According to a study just recently released by the Competitive Enterprise Institute, the difference between the economic brackets among the top and bottom levels is not as important as the living standard of those in the lowest economic levels. The study also noted that raising the minimum wage would end up having a negative effect because it would help drive the unemployment rate even higher.

According to one of the study’s co-authors, Ryan Young, giving people access to economic and job opportunities that will boost their standard of living is more important than focusing on the income gap. Young also said: ““Policy reforms that help poor people include access to affordable energy, access to capital for entrepreneurs, ending occupational licensing restrictions, an honest price system, and overhauling a range of regulatory barriers.”

http://dailycaller.com/2016/05/25/report-taxing-the-rich-wont-fix-income-inequality/

Posted in
The Four Commitments of a winning Team

The Four Commitments of a Winning Team

The four commitments of a winning team as told by Mark Eaton.  Mark made it from a 19 year old auto mechanic to a 7′4″ NBA All-Star, who still holds 2 NBA records and played with the Utah Jazz for 12 seasons, he discovered the simple commitments that teams need to perfectly synchronize and become…

Thanksgiving week and gratitude

Thanksgiving Week & Gratitude

Thanksgiving week and gratitude Thanksgiving is one of my favorite times of the year because it helps me to remember the many things I have to be grateful for: my family, relatively good health, friends, job, religious freedoms (I should probably use more often), and too many other blessings to list. Not to mention the Thanksgiving…

Charles Sullivan

Charles Sullivan- A Legacy of Football, Entertainment & Medicine

Charles Sullivan, A Legacy of Football, interview transcript, by Alan Olsen for The American Dreams Show: Alan Olsen: Can you share a little about your background with us? Charles Sullivan: Yes, my late father during the Second World War was assigned to the US Naval Academy at Annapolis, Maryland. And he was director of public…

Jory Mack

Jory Mack- Reno Solar

Jory Mack, Reno Solar, interview transcript, by Alan Olsen for The American Dreams Show: Alan Olsen: Can you share a little about your background and how your company, Reno Solar came about? Jory Mack: I was working at a gym and had a friend that, that wanted to be partners. I basically I quit the…