Inequality

Payroll Tax and Unemployment

Payroll Tax and Unemployment

Remember when President Obama and his team promised that if only we passed an emergency “stimulus” bill allowing them to wantonly spend $787 billion, unemployment would be capped at 8%? Two years later, having soared as high as 9.8%,...

Penny-Wise Politics: Class Envy and CEO Pay

Penny-Wise Politics: Class Envy and CEO Pay

Congress is never more ridiculous than when it tries to look like it is serious. In the midst of a major national financial crisis, what was one of the first things Congress zeroed in on? The pay of Chief Executive Officers of financial...

Celebrating Income Inequality

Democrat and Republican candidates for President are debating one another on nearly every issue--but nearly all are united on one thing: America faces a crisis of "income inequality." The rich are getting richer, the refrain goes, while the poor...

Say “No Way!” to “Say on Pay”

The House of Representatives recently passed the "say on pay" bill proposed by Congressman Barney Frank. The bill forces all corporations to allow shareholders a non-binding vote on CEO compensation. The idea is to shame directors into lowering CEO...

In Defense of Income Inequality

The issue of income inequality reveals one of the ugliest aspects of today's culture. The ugliness stems not from the existence of income inequality--but from the motives of those who denounce it. Income inequality used to be a rabble-rousing issue...

Economic Inequality: Process and Results

Democrats plan to trumpet the income and wealth gap for political gain in this year's elections. According to The Wall Street Journal article "Democrats' Risky Strategy," Democratic candidates blame Republicans for economic inequality. This...

Why Are CEOs Paid So Much?

The Coca Cola Co. has instituted a significant new plan for compensating its directors: they will not receive payment unless the company meets its financial targets. But even if other corporations adopted similar arrangements, it would do nothing...

Why Are CEOs Paid So Much?

As millions of Americans watch the Seattle Seahawks take on the Pittsburgh Steelers, every minute of the game will be scrutinized, with slow-motion replays and a torrent of statistics. But, amid the cheers and groans, don't expect to hear...

Are CEOs Overpaid?

In the wake of the Enron and WorldCom corporate scandals, the purveyors of envy have found another opportunity to preach about what they consider the evils of high CEO salaries, retirements and bonuses. After all, according to them, evil must be...

Productive Inequality: Is it Fair?

Shaquille O'Neal ($32 million), Tiger Woods ($80 million), Oprah Winfrey ($210 million), Barry Bonds ($23 million), Mel Gibson ($210 million) and Lance Armstrong ($19 million) are at or near the top of their professions, and their annual earnings...

Why Are CEOs Paid So Much?

Are America's CEOs paid more than they deserve? Many people's answer is a vehement: Yes. That view is reinforced anew every spring, when companies file their financial statements and we learn how much CEOs were paid last year. In 2003 the average...

Equality, Inequality and Fate

Equality, Inequality and Fate

One of the confusions that plagues discussions of equality and inequality is a confusion between the vagaries of fate and the sins of man. There are plenty of both but they need to be sharply distinguished from one another. The plain fact that...

The Inequality Dogma

The Inequality Dogma

This is truly the age of dogma when it comes to differences between groups. Some will blindly deny that intergroup differences in performances are anything other than "stereotypes," "perceptions," or discrimination. At the other end of the...

The War on CEOs

Just as the War on Terrorism dissipates into total inaction -- the latest word is that we will not invade Iraq -- our leaders have launched a new war to replace it: the War on CEOs. In reaction to a few cases in which corporate CEOs allegedly...

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