It goes without saying that employment and income are intertwined. Even in an age of creeping government dependence, income is, or should be, predicated on finding a job and then, hopefully, deriving satisfaction from it. That’s all part of the American Dream.
President Obama considers this “dream” compromised by “a dangerous and growing inequality and lack of upward mobility that has jeopardized middle-class America’s basic bargain.” Inequality of wealth, he said, “is the defining challenge of our time.”
Using income, tax and redistribution data published by the Tax Foundation, two editorials earlier this weekrefuted this claim, and in keeping with the simple truth that a better economy and more jobs are the best means of creating wealth and lessening “inequality,” Americans for Limited Government has cut even closer to the bone. In a commentary published on Tuesday, Robert Romano, senior editor at ALG, had this to say:
“[Mr. Obama] thinks it is income inequality that is holding back regular Americans. But for that to even be a problem, many Americans would first need an income.”
Amen. Mr. Romano stated the case trenchantly and pungently. And to get that income, Americans need jobs. Thus, the proof in Mr. Romano’s pudding is the U-6 unemployment rate discussed in today’s top editorial. It’s mighty hard to resolve “inequality” in an economy burdened with 13.2 percent unemployment, particularly when government policy is, partly, the reason for the unemployment, and thus, the inequality..