By Michael S. Rozeff
The president said in a recent speech that income inequality “is the
defining challenge of our time.” To remedy it, he proposed “actions
ranging from an increase in the minimum wage to better education to
following through on his health care plan.”
Without causing other problems, Obama cannot “improve” income inequality
by simply collecting a few statistics and then getting laws passed that
he think will “improve” them. Political laws cannot contravene economic
laws without negative consequences that may outweigh the supposed
benefits. Obama’s speeches make no reference to the negatives of his
proposed remedies.
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