Yesterday, Andy joined Mornings with Maria to discuss income inequality and the ‘capitalism reform’ topic brought about by hedge fund billionaire Ray Dalio. Andy noted two clear problems with Dalio’s argument- it doesn’t take into account 1) taxes or 2) welfare benefits. By not including these two elements, the government could tax the wealthy 100 percent and distribute all of it to those on the low income scale and it wouldn’t change the level of inequality.
Second, he notes that the growing economy is not being factored into the income equality scale. Unemployment rates are at a historic low, job openings are at a series high and wages are being lifted from the bottom, which Andy argues is the only effective way to truly reduce income disparities in the U.S.
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