Who Killed the Middle Class?

The Los Angeles Times published a grim headline: “Middle-class families, pillar of the American dream, are no longer in the majority, study finds.” The nation’s middle class, long a pillar of the American economy, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study. Rapid growth of upper-income households, coupled with an increase in less-educated, low earners, has driven the decline of the middle-income population to a hair Read more […]

Why did a CEO Pay Everyone $70k?

Remember David Price who decided to pay every employee at his company, Gravity, including himself, an annual salary of $70,000? A great many things went predictably wrong with that plan. One of the unpredictable things was a lawsuit. Another problem is that Price is now involved in a lawsuit. Price told the New York Times, “We don’t have a margin of error to pay those legal fees.” Price made it sound like the lawsuit was an event he didn’t expect. But Karen Weisse at Bloomberg Business Read more […]

What Happens When a CEO Pays a $70k Annual Minimum Wage?

Only a few months ago David Price announced his experiment of paying everyone in his company the same annual minimum wage. Already we are seeing results. Back when it was first announced, both Mark Horne and Bob Allen commented on Dan Price’s new payscale. Mark was a bit more pessimistic. He wrote in part: What we don’t know is whether his business will make it under this new scheme. Hopefully it will. But it will bring certain challenges. For one thing, is Price going to expect everyone Read more […]

David Stockman on Ben Bernanke and the Federal Reserve

Video: David Stockman interviewed on the baleful record of Ben Bernanke and our economy. The video embedded below is a must-see interview!! Please… I beg you… watch it. Are you concerned about “income inequality”? You should be, and you absolutely must understand why it’s gotten so massive. As David Stockman brilliantly explains here it’s not because of a failure of Capitalism, but a coup d’état by Central Banks in league with governments around the world. [See also, “David Stockman Read more […]

How Should Christian CEOs Treat their Employees?

While freely admitting that the reasoning in this essay at Christianity Today is sloppy, and the basis of the argument is not well grounded—non-sequiturs and misapplication aboundeth—I do think the overall concept is more than worthy of discussion. It is discussing the CEO who is paying all employees $70,000 a year and is reducing his own salary to that amount. CEOs have come to see their often grossly over-sized compensation as almost a “divine right”—no matter the impact on the overall Read more […]

Income Inequality Is a Loser with Voters

Yesterday was Get-nailed-by-the-IRS Day, so it was a fitting time for the New York Times to publish Thomas B. Edsall’s editorial, “Has Obamacare Turned Voters Against Sharing the Wealth?” The short answer is: Yes.  In 2006, by a margin of more than two to one, 69-28, those surveyed by Gallup said that the federal government should guarantee health care coverage for all citizens of the United States. By late 2014, however, Gallup found that this percentage had fallen 24 points to 45 percent, Read more […]

End the Federal Reserve; Stop the Widening Income Gap

If we want to stop the income gap from growing, we need to stop the Federal Reserve. A massive “Amen!” to this essay, published at Mises Canada! During the years of the Roman Republic, Cato the Elder ended every speech with the phrase “Delanda est Carthago” (Carthage must be destroyed). Rome had fought two wars with Carthage, yet the threat to the Republic remained. Cato saw Carthage as an existential threat and concluded that Rome would not be secure as long as Carthage existed. So fervently Read more […]

Income Inequality Is Increased by Anti-Capitalism

Market forces don’t increase income inequality; government does. Have you heard it said that “income inequality” is a failure of capitalism? Well, maybe we could say that, if what we had in America today was capitalism. But that’s far from the case. Our income inequality is largely the product of a government that has vastly too much power in the marketplace, and ends up determining winners and losers—virtually always favoring the politically-connected. [See also, “Why the Tea Read more […]

The Obama Recovery Increases Wealth Gap

Liberals keep touting the Obama recovery, but if Obama gets credit for the economy why not blame him for income gap? We are told over and over again that Barack Obama deserves credit for the economic growth that is allegedly happening. So, if he is the one whom we should thank for this economy, shouldn’t we also hold him responsible for the growing income gap under his presidency? The L.A. Times reports, “Wealth gap in America widens to record level, report says.” Using the latest Read more […]

Why the Tea Party Is the Enemy of Income Inequality

Unlike the Left, Ted Cruz is willing to name the cause of income inequality. OK, I am impressed. From the Daily Signal: “Ted Cruz Strikes Back: ‘Too Many Republicans Willing to Be Complicit’” In the midst of the debate over a mammoth government spending bill, Republicans and Democrats found something to agree on: their dislike for Sen. Ted Cruz, who forced a rare weekend session for the Senate. But rather than back down, Cruz opted to call out Washington politicians on Sean Hannity’s Read more […]

$40 Million for 6 Years of Presidential Vacations

Barack Obama’s last three Presidential vacations cost $6.2 million. As a friend made me think, when he sent me this story, if this man ever opens his mouth again about “income inequality” and “economic injustice,” someone needs to tell him to shut up. A Secret Service agent would be perfect. The next two years can’t be over soon enough. I’m sure he’ll add another $5-$10-million to this obscene bill to shove down our throats before he’s done. According to the Washington Examiner, “Taxpayers Read more […]

Hollywood Hypocrites Produce Extreme Income Inequality

Celebrity Leftists plugging Democrat slogans about income inequality are the worst offenders! Ever wondered how much people in the lower echelons of the movie credits make? Well, here you go! From the belly of the beast—The Hollywood Reporter—you can see what a “Best Boy,” a “Gaffer,” and a stuntman take home. “Hollywood Salaries Revealed, From Movie Stars to Agents (and Even Their Assitants)” How bad is the decline in actor salaries over the past decade? Despite the huge sums Read more […]