Being Smarter about Stuff . . . like Income Inequality
Doesn't this qualify as history, math and economics education?
Video Below
Doesn't this qualify as history, math and economics education?
Video Below
Malcolm Gladwell, author of numerous best-sellers, such as The Tipping Point and Outliers,
in a chat sponsored by The New Yorker, via Huffpo, raises interesting questions:
I don't think Gladwell meant (hope) that we go to some kind of limit of what one can earn or to tax the top 5% exhorbitantly or punitively, but was making a point of how far we've gone as a nation to where we are now in attitude and practice - taking even Clinton era taxes "off the table" for conversation.
Sounds a little fishy to me. The tax rates may have been 91%, but did anyone really pay that much? Hauser's Law would seem to say "no". Also, whether or not the economy was "flourishing" in the 50's, the standard of living is better today than it was then.
Hauser's Law seems to make sense to me. If the wealthy weren't able to protect their wealth, I doubt we'd see things such as the Gates Foundation. If the government really collected 91%, THAT would be the Gates Foundation. I think I would prefer to see people do good deeds with their wealth on their own free will rather than have the government step in and do it for them.
http://www.hoover.org/publications/hoover-digest/article/5728