Thursday, May 08, 2014

Wealth inequality is attracting more attention, even as a personal moral issue


The talk about wealth taxes is back, quickly, as Vox Media publishes a meditation, “The power that comes from being born really wealthy is dangerous for America”, animated video link here.  Ezra Klein does the narration and Joe Posner directs. 
  

The video mentions the mammoth book “Capital” by Thomas Piketty, which I will get to later.  Piketty is apparently even more energetic on progressive taxes, including wealth taxes, than even Elizabeth Warren (“A Fighting Chance”, but I will have to see for myself.
  
Klein has written about the perception of the aristocracy in the past, and how world wars affected it.  Unearned wealth can be lost to force. 

Income inequality (as examined by Robert Reich in a film last year) is more defendable, as higher pay is a reward for hard work and innovation.  You can't have innovation without inequality, and this inevitably leads to social tension. 
       
I inherited an estate, but an hardly even close to the “1%”.  But the far Left would see me as an offender.  “Intentional communities” try to address inequality on a moral level with income sharing, and essentially a moneyless system where work units themselves are traded (which can become politicized).




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