Stossel on Fairness

John Stossel has an interesting article up on the nature of fairness, what is means to be fair and what fairness means and why the lefts obsession with it is misguided.

Donald Trump’s kids and Paris Hilton’s siblings were born rich. That gave them a big advantage in life. Unfair!

Inequality in wealth has grown. Today the richest 1 percent of Americans own a third of the assets. That’s not fair!

But wherever people are free, that’s what happens.

Some people are luckier, smarter or just better at making money. Often they marry other wealthy, well-connected people. Over time, these advantages compound. Globalization increases the effect. This month’s issue of Forbes says the world now has 1,826 billionaires, and some struggle to find enough parking places for their jets.

President Obama calls inequality “the defining issue of our time.” Really? Not our unsustainable debt? Not ISIS? The president also said, “No challenge? poses a greater threat to future generations than climate change!”

Politicians constantly find crises they will solve by increasing government power. But why is inequality a crisis?

Alexis Goldstein, of a group called The Other 98 percent, complains that corporations got richer but workers’ wages “are lower than they’ve been in 65 years.”

That’s a common refrain, but it’s wrong. Over the past 30 years, CBO data shows that the average income of the poorest fifth of Americans is up by 49 percent. That doesn’t include all the innovations that have dramatically improved everyone’s life. Today even the poorest Americans have comforts and lifespans that kings didn’t have a century ago.

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