The wealth gap--again

Democrats have whined and moaned about the wealth gap or wealth inequality for as long as I can remember--even back to the 40 years I was a Democrat. That Jeff Bezos and Nancy Pelosi would laugh at my current wealth compared to theirs really doesn't bother me. What bothers me is when Bezos can buy and sell Pelosi and SHE is fearful of that gap between them. She's the one insecure, not me. Together they (with other Democrats and CEOs) pass laws that take my wealth to transfer to people who probably need a social safety net, but she and he won't pay for it.

What really helps the poor are good jobs, not more government handouts. Under Trump, real wealth held by the bottom half of households grew faster — over three times faster — than wealth held by the top half of households in the 2017-2020 period, and almost three times faster than for the top 1 percent. Now Biden is paying people to not return to work, something that will not help them advance and succeed.

The shifting stories

If the shift from Covid19 stories to riot stories wasn't your clue, the wealth gap stories had just made their appearance again as the economy was set to rebound. Forget all that "we're in this together" nonsense. The Columbus Business Journal has a lock on the article, but you can see the same stories, different characters that were appearing in 2005.

Here's my take. It takes marriage and family backing usually by parents or grandparents to live well. You only need to look as the highest income people in America, and that isn't "whites" as the demographers and dividers like to call people like me. Those would be "Asian," or more specifically Indians, Filipinos, and Japanese Americans. They have the highest marriage rates and strong support from the couples' parents.

I live in a very nice neighborhood with great amenities, good school system, many churches, and good shopping (although not as good as in the 80s since retail chases the money). It would be difficult for a mom with 3 children who does not have a handsome divorce settlement and alimony to live here. However, I would look low income compared to the areas northwest of my community. Wealth gap is relative. I'd look like a pauper compared to Colin Kaepernick and yet he whines about injustice because he didn't get picked for the NFL and wanted his own rules.

The Warren Gap fallacy—or how she promotes envy and sows discord

For Example:

There are three married couples; all named The Bruces. White, 8th generation, college educated Americans.   Bruces A are 20+ years old; Bruces B are 50+ years old and Bruces C are 65+ years old. From top to bottom, Bruces A, B, and C.

Bruces C are much wealthier than Bruces A and Bruces B. They have pensions, 403-b, 401-K, Social Security,  investments  and 2 homes. Bruces B have some savings, no investments, and 2 homes.  Bruces A have one house, no savings or investments.  There’s a wealth gap.

Bruces B have a much higher income than Bruces A and Bruces C.  There is an income gap.

Bruces A are much healthier than Bruces B and Bruces C.  There is a health gap.

Bruces A have minimal health insurance, some hospitalization coverage never used; Bruces B have great health insurance from large self insured employer—OSU; Bruces C have Medicare A & B, plus supplemental. Good, but not as great as Bruces B.  There is an insurance gap.

Bruces A take no medications at all.  Bruces B have minor conditions requiring little medication.  Bruces C have had heart, blood pressure, cancer, asthma, cholesterol problems, all treatable.  There is a health consumption gap.

Bruces A are usually employed or under employed—they are students or lower level employees; Bruces B are fully employed, or self-employed and are DINKS; Bruces C are not employed even irregularly.  There is an employment gap.

Bruces A rarely ever have a vacation or travel; Bruces B occasionally travel to visit relatives or vacation close to home; Bruces C travel to many countries and enjoy cruises, they eat out frequently, attend art events, pursue hobbies.  There is a leisure gap.

Which of the Bruces, A, B, or C, does Elizabeth Warren want to tax to "help" the other two?