Is income inequality a problem?

Income inequality refers to the large and growing financial gap between rich and poor.

One side says:
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  • Extreme inequality is bad for democracy.

    It's a simple fact that the people who own the country make the decisions. With extreme inequality only a few people own the country. This used to be called an aristocracy.

  • Extreme inequality is the result of a rigged system.

    Over the last 30 years people at the top have changed the rules – in the tax code, in banking rules, in regulatory oversight, etc. – to favor them over everyone else.

  • Extreme inequality is bad for the economy.

    Middle-class people spend most of their money, which boosts the economy. Very rich people don't (it's hard to spend millions every month), which keeps money out of the economy.

  • Inequality is real, it's personal, it's expensive and it was created, by Economic Policy Institute
  • Inequality and You, by Stuff They Don't Want You To Know – HowStuffWorks

The other side says:
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  • Inequality is the price of freedom.

    Inequality, even great inequality, is the cost of letting people make good choices and bad choices. And Freedom is our core American value.

  • Inequality promotes individual effort.

    Human nature dictates that we only give our best when we know that there will be winners and losers. Competition is what has made America great.

  • The alternative to inequality is Socialism.

    Inequality has its dark side, but the alternative is much worse. It's basically government controlling wealth, either by redistributing it or by getting rid of the free market altogether.

  • What Wasn't Said in 'Wealth Inequality In America', by Learn Liberty
  • Bill O'Reilly Discusses 'Income Inequality', by USAhistorywriter