The Case Against Income Equality

"Do not exaggerate the virtues of income equality. The Berlin Wall was built to prevent people fleeing from egalitarian East Germany to inegalitarian West Germany. People swam across shark-infested waters from Mao’s egalitarian China to inegalitarian Hong Kong. Nobody swam the other way. Millions voted with their feet for opportunity over equality. Forced equality can kill opportunity, and thus become an instrument of oppression, not empowerment. Equality of opportunity can be more important than income equality."

This quote from the article, "Income Equality is Over-Rated" argues that the quest for income equality can often destroy the power of opportunity. While the author of the article agrees that severe income inequality is very bad, and thinks that, "It should be reduced by taxing the rich at a progressive rate, and providing safety nets and upward ladders to the poor", he makes the claim that income equality is not practical, and that the power of opportunity trumps this equality.

What are your thoughts? Do any of you feel that only parts of income inequality in America should be dealt with to avoid the extreme disparity, but then accept the idea that there will always be some form of disparity? Or do any of you feel as though income equality is essential, and that everyone should get equal slices of wealth?

https://blogs.timesofindia.indiatimes.com/Swaminomics/income-equality-is-over-rated-mr-piketty/

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