Apparently, for Judd Gregg, no amount of income inequality can be too great. The Federal Reserve has the dual mission of controlling inflation and keeping unemployment low. I wish someone had the mission of limiting the inequality in wealth. I mean, we do do some of these types of calculations. One example is the formula for dispensing federal money to the various school districts. We don’t allow one school district to get billions of dollars while another cannot afford textbooks. The system is still skewed and some schools can’t afford books, but we prevent it from getting absurdly out of whack. About the only tool we have for preventing an aristocracy from emerging is the Estate Tax, but too many people hope to one day be part of the aristocracy so…
People I Dislike
