Income Inequality at Heart of Our Recession? What Crap

Hi just read former Labor Secretary Robert Reich's column regarding the cause of the current recession (yeah, we are still in one). He blames income inequality. He suggests that median wages from 2000 to 2007 went nowhere, while the Wall Street types were making fortunes.

So, his suggestion is that Target and Wal-mart be forced to pay higher wages, and that companies not be allowed to layoff many workers at once, be forced to pay a year of severance. Can you say income re-distribution? The haves have the money because they are smart and creative while the have-nots are too lazy and dumb to do any better for themselves. Of course, not all hard workers are like that. And it is unfortunate that people lose their jobs during a recession. Most of us are feeling the pinch and weren't prepared for it.

But, rather than sit on my ass, I have been pro-active at trying to improve my situation. I am scaling back on my living expenses by providing a rent to own opportunity to a family that can make better use of my home. I am creating more opportunities for the businesses I enjoy, and creating a plan to get out of debt.

That is just me though. I've always been motivated, to an extent. Apparently, Mr. Reich would rather we live in a communist society where we are all equal. No reward for hard work. Instead of a company being responsible to its shareholders, it is supposed to be run inefficiently in order to keep its workers employed. Where will the incentive for new business and technology creation come from if the government is going to dictate what you must pay your employees and how long you must keep them?

The beauty of America is that you can create a business out of your garage or your dorm room and turn yourself into a billionaire. Yeah, it requires a brain and motivation. But those are the kind of people who create jobs. Just look at how much wealth Google and Apple have created over the last decade. Then just look at how mediocre companies that are heavily unionized perform...ummm, Chrysler and GM come to mind. Who would you rather work for?

While there is income inequality in this land, that is a symptom of what makes this country great...everyone with the motivation has the opportunity! Sitting around whining about inequality doesn't get you anywhere.