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Is income inequality a harmful phenomenon?

melanielustmelanielust 103 Points
edited May 13 in Economy
In capitalism, it is natural for there to be very wealthy individuals at the top, and those who struggle below. From what I have heard the "wealth gap" means that the very rich suppress the poor, but I've also heard that the rich create a standard for the lower classes to look up to, therefore generating more wealth and progress as a motive.

I am genuinely curious about this since I have always wondered why income inequality is necessarily bad. All perspectives welcome.
holoetherep
  1. Is income inequality harmful?8 votes
    1. Yes
      12.50%
    2. no
      87.50%

Comments

  • holoeholoe 3 Points
    No, people who work hard deserve more, that includes money.
    SaltyDog
  • SaltyDogSaltyDog 16 Points
    generally when the people at the top do better the lower tiers do better as well.

  • agsragsr 271 PointsPremium Member
    Premium Member
    @SaltyDog, good point. There are always exceptions, but generally when upper class does well, middle class does well too.  That raises the entire population.
    in any heathly economy it is okay for super-talented, super-lucky, super-hardworking to have much higher income. Otherwise we would have to say that Bill Gates or Elon Musk would be forced to make as much as an average engineer.  
    In socialist society the income get equalized to be "fair", but that doesn't promote progress and innovation.
  • inc4tinc4t 101 Points
    Harm of Income inequality is communist propoganda.  It is only not harmful, but fuels whats great about America.
    therep
  • thereptherep 28 Points
    It is not harmful, due to the thinking of working hard and earning much more in comparison to not.
    melanielust
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