Recently, an individual asked me about my views on income inequality. Its a topic worthy of discussion.
First, we must acknowledge that every society will have income inequality of some kind or another. That is unavoidable. But the problem with income inequality in America is that it is exacerbated by government policies.
Years ago, the largest concentration of wealth in America existed in New York City, the center of finance and markets. But today, the largest concentration of wealth exists in Washington DC, the center of government.
The fastest way to grow rich in America today is no longer producing a good or service that people in free markets will reward.
Instead, the fastest way to grow is to cozy up to politicians and government bureaucrats who will grant you:
Exclusive government contracts;
Regulations that benefit you and harm your competitors;
And direct corporate welfare transfer payments from the American taxpayers into your pocket.
When government picks winners and losers, the winners tend to be the ones with the best lobbyists and the deepest pockets.
If we want to fight income inequality in America, government must stop picking the winners and losers.
We must let free Americans operating in a free market reward those who find the best ways to serve their fellow man.
For Liberty!
Eric Brakey
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