Exploring Income and Wealth Inequality

Some political leaders are saying that inequality is at unacceptable levels and should be countered by higher taxes at the top end. But income and wealth inequality are complex issues that are often misunderstood. Scott Winship is a long-time expert on inequality and economic mobility and will discuss income inequality. He will be followed by Chris Edwards, who will discuss wealth inequality data, the role of wealth in the economy, and the possible effects of an annual wealth tax.
Winship is executive director of the Joint Economic Committee, chaired by Senator Mike Lee (R-UT), and leads the committee’s Social Capital Project, a research effort aimed at understanding the health of families, communities, and civil society. The chairman’s office recently released a study comparing measures of income concentration. Edwards examined wealth taxation in a recent Cato study and has completed a new Cato study on wealth inequality with Cato scholar Ryan Bourne.

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[peterpan]

The Kochs’ chief political lieutenant, Richard Fink, developed what he called a three-stage model of social change. Universities would produce “the intellectual raw materials”. Thinktanks would transform them into “a more practical or usable form”. Then “citizen activist” groups would “press for the implementation of policy change”

[loconeko]

Literally, the second guy says "People are less and less equal, so everyone is better off". I tried to detect sarcasm. I believe there was none.

[peterpan]

Cato Institute created by the oligarchs, for the oligarchs to stay in power, at the Cost of the middle class. By Destroying unions so wages can be lowered & more profits can go to the oligarchs, lets not forget cutting their taxes while cutting services for the poor & middle class Thanks Cato Institute

[summerroll]

Basically this video showcase the underlying problem(s) with the inequality/disparity in American. These people need to stop swimming in the world's longest river (The Nile). Denial in the increasing gap between the rich and the poor in America is crazy and irresponsible (bordering in being propaganda).

The point is not if there is inequality and need justification, but the increasing wealth gap between the 1% rich owning 40% of the country's total wealth (& rapidly increasing) and the very poor owning less than 1% (& increasing as a % of total population). More and more people are living from pay cheque to pay cheque. The medium class is continually shrinking and more and more people are living below the poverty line.

Nice to say "the rising tide lifts all boats", but the issue is more and more Americans don't have boats or having sinking boats.

[peterpan]

"free market" is nothing but a construct created by ideologues more interested in abstract theories than in practical analysis.Markets–the domain of economics–are political constructs themselves. Markets are political constructs in so far as all property rights and other rights that underpin them have political origins.