Please, let’s seriously talk about class warfare. The tax code has been tilted in favor of creating this situation and it’s time to correct this error. PBS:
RICHARD FREEMAN: We’re high for a poor country, in terms of inequality, and we’re a rich country. We’re about the same level of inequality as China. And, of course, China, half the population are rural peasants who are not part of the modern world.
And if we were to compare us with African countries, dictators in different places, you know, taking a lot of the wealth from normal people, we would be among the top half of the African countries of inequality. So, the U.S. really has reached an extraordinary level of income inequality.
PAUL SOLMAN: The luxury goods speak for themselves. But who knew that the kids of the wealthy were flying private jets to camp this summer? OK, to some, this might be cause for indignation, but, to others, it’s not that simple.
STEVEN DAVIS, University of Chicago: Inequality is the flip side of providing powerful incentives for people who generate a lot of income.