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A Thought on Prosperity vs. Income Inequality

"So when all is said and done, the inequality warriors want the government to confiscate wealth and control incomes so that wealthy individuals cannot influence politics in directions they don’t like. Koch brothers, no. Public-employee unions, yes. This goal, at least, makes perfect logical sense. And it is truly scary.

"Prosperity should be our goal. And the secrets of prosperity are simple and old-fashioned: property rights, rule of law, economic and political freedom. A limited government providing competent institutions. Confiscatory taxation and extensive government control of incomes are not on the list."

~ John H. Cochrane, Senior Fellow, Hoover Institution and Professor of Finance, University of Chicago

Source: "Dishonest Demands," Spring 2015 (2015, No. 2), which originally appeared in the Wall Street Journal.

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