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 Originally Posted by BananaStand
Income inequality doesn't matter.
Nobody even has an explanation for what it means or what it entails. What causes income inequality, what does it cause? Nobody fucking knows. It's one of those things that appear meaningful on the surface but isn't beneath the surface.
Furthermore, data on income is deeply misleading. One example: capital gains "income" and labor income are VERY different (because present value), and should not be lumped together (though they are). Also a very large proportion of people far greater than 1% of people are "in the 1%". This is due to variation in life circumstances and such.
And we this isn't even accounting for the fact that more important measures of what could be called "value expectations holdings" or the like tell a much different story. For example, elderly people are wealthier than young people according to monetary and asset holdings, but you'd be out your damn mind if you thought the elderly are have better overall economic positions than the young.
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