IE Business Daily Business news for the Inland Empire.
Income Inequality – the idea that some people make a lot more than others has the liberals all “wee weed up” to quote that sage of language Sarah Palin. It is somehow mystifying and wrong to the liberal psyche that some people have billions while others – don’t. Some people are smarter (which you would think liberals would see easily because they are so sure they are smarter than everyone else), more talented and better looking than others. Some simply work harder. Some people win the lottery. That’s life. No it is not fair. Life was never intended to be fair.
When I was young I dreamed of playing wide receiver for the Oakland Raiders. At 5’10 and with all the speed of a turtle it was never going to happen. Later in life I got a Masters Degree in performing arts and set out to be an actor – five years and many great parts and a greater number of unsuccessful auditions later my plans changed again. I have since been fortunate enough to build a successful career in public relations and marketing and in radio as a broadcaster. I make a good living, in fact, according to the latest statistical analysis of U.S. household income, I could find that my wife and I are in the top 20 percent of household income earners in the country.
(This would come as a shock to many of my teachers most certainly Father Kelly who struggled mightily to get me to understand Latin and Colonel Frisbee who had the unfortunate task of trying to teach me algebra.)
Had I made different choices, like continuing to pursue a career path that seemed very difficult, if not impossible for me, than I would certainly be in a different place entirely economically. Life is about choices and choices determine your outcomes. Studies consistently show that by just doing a few key things a person can avoid poverty. They include finishing high school, getting a job (any job) and working full time, not having children before you are married, living in a two parent household if you have children, and not becoming dependent on drugs or alcohol. That is it. Do those things and there is about a zero percent chance you will live in poverty and a very good chance you can live a good lifestyle in this country.
Yet income inequality persists and liberals think this must be stopped somehow. But like a patient who won’t listen to the doctor who is prescribing them the life saving regimen they need, they simply won’t look at the facts and listen to what they need to do and do it.
The problem of income inequality is not a failing of the culture, but of the individual. I have seen first-hand wealthy kids with everything end up in the gutter or dead, and I have worked for very wealthy individuals who grew up dirt poor or worse. Anthony Maglica of Maglite (you know the big black flashlights that are indestructible and work in any conditions) literally almost starved to death during World War II before emigrating to America as a teenager, worked in sweat shop conditions in New York before moving to California and worked in the aerospace industry as a machinist until he launched Maglite out of his garage in the 1970’s. In another example, one of my best friends from my younger years came from a well-to-do family where both his parents were highly educated professionals and yet he never finished college and lives on welfare and social security benefits today. The difference between these two men – choices. Anthony Maglica chose hard work and entrepreneurship and my friend chose sloth.
The poor and otherwise disadvantaged children certainly have a harder row to hoe than those with money and good parents and connections – but that’s life. We should do all we can to make sure kids have access to a quality education, but we can’t guarantee they will take advantage of it and we can’t force them or their parents to care. The fact is – the poor will always be with us. As will the wealthy. Thank God for the wealthy.
The services my firm provides are not inexpensive and many companies do not need the level of expertise and counsel I and my team provide. However companies that are consistently rolling out new products and innovations, or have a need to engage the public and gain their favor for something that needs a public vote like a large development project of some kind definitely need the services I provide at Desmond & Louis Public Relations. These companies and individuals have amassed and concentrated great wealth. Without the opportunity to amass that wealth they would not be investing in the research and development that leads to great new products, or buying and securing the rights to develop an 800-acre mixed-use residential and commercial project.
Without the accumulation of wealth – or some level of income inequality – our economy would stagnate because nobody would have the capital resources to start new ventures. Then the jobs that they would create would go unrealized and total economic stagnation would be the inevitable result. Looked at through this clear-eyed analysis one can only conclude that income inequality is a wonderful thing, a necessary thing. In order for great things to happen someone must have the resources to make it happen and those people are the wealthy. We need more – not less wealthy people and with that, greater income inequality.
