We hear a lot of politicians complain about income inequality but none of them define it or offer any suggestions to correct the problem. The big problem seems to be that the successful make too much and that the unsuccessful don’t make enough. I don’t see that as a problem but apparently they do.
Do I really care how many millions of dollars a spoiled brat TV or movie star gets paid for their “acting”? In a free market economy if the spoiled brat actor can demand a million dollars a week for their acting and a TV studio or producer thinks that’s worth it and actually pays that spoiled brat actor the million dollars a week, I’m good with that.
The studio or producer thinks that’s worth the money and pays it then the actor earns it, that doesn’t affect me. I’m not making a million dollars a week, but I would like too. I’m jealous that the actor is making so much more money that I am, but I don’t want to stop the actor from getting what they can for their acting.
Now I’m also good with uneducated single mom earning under three hundred dollars a week as a part time waitress in a cheap diner in a seedy part of town.
Life is about choices. We are all the sum of the choices that we and our parents made over time. Uneducated single mom’s parents made some choices that led to a premature pregnancy that may or may not be responsible for the lack of education. The single mom indicates there is a father who is not being accountable for the child he fathered. Choices along the way created the situation that uneducated single mom has to live in.
No education with limited skills and a questionable family situation will have a negative impact on a person’s ability to earn a living. All of these choices have an impact on the earning potential of the uneducated single mom, however they have absolutely no impact on the earning potential of the spoiled brat actor, the spoiled brat actor is still earning a million dollars a week.
Other than some weak minded politicians complaining about the income inequality I don’t see the problem. If it is a problem, how do we fix it? Do we set a limit on how much the spoiled brat actor can earn in a week a month or a year? How would we enforce it? Setting a limit on how much a person earns will have a negative impact on tax revenues. Simple minded elected empty suits would get a bit weak in the knees when they discover that they limited the revenues into the public piggy bank that they are determined to misspend.
Another option is to try and artificially inflate the income for the uneducated single mom. Compel the cheap diner in the seedy part of town to pay the uneducated single mom far more than she’s worth just to artificially increase her income. The diner is cheap and in the seedy part of town because the owner has limited capital, possibly poor business skills and a really bad cook. Over paying the help doesn’t make the food any better or secure the few jobs the cheap diner maintains in the economy.
Both options stink. A free market economy must stay free. Let the skills, experience, and work ethic of each individual speak for the employee. Those who can demand a million dollars a week and can get it should get it. Those who can just barely earn three hundred dollars a week, because that’s just about what their skills, and experience call for then let them earn that and no more.
We all make choices and those choices result in the circumstances that we must live in later on in life. Actions have consequences.
Before uneducated single mom puts herself in a position to become pregnant and uneducated she must consider how her life and the life of her child will be if she must spend her life as an uneducated single mom. Her parents made choices that allowed her to make some bad choices along the way.
Choices, values, education, work ethic, and family are how we balance the income inequality situation. I refuse to call it a problem because it isn’t a problem, it the result of the choices we made.