He writes that the upper class of FTE workers, who make up just one-fifth of the population, has strategically pushed for policies—such as relatively low minimum wages and business-friendly deregulation—to bolster the economic success of some groups and not others, largely along racial lines.
The idea that raising the top marginal tax rates 3-5% or raising the minimum wage 4 or 5 bucks will combat inequality is laughable.
The cognitive dissonance between the cause of class (and the related race) inequality and the policies suggested to combat it never fail to blow my mind.
Slavery was a legal, government subsidized industry. The Jim Crow south that systematically stripped the black community of their property rights was built on a system of state and federal laws. The highly regulated, highly subsidized mortgage loan industry had reams of racially divisive rules that barred the black community from building generational wealth during the most important period of general economic prosperity in perhaps the history of the world following WWII.
American governments spent 200 years systematically robbing various ethnic groups of their rights, but bullshit pieces like this blame it on affluent white people that vote for candidates that have ideological problems with the minimum wage.
Gimme a break.
The cause of economic inequality is several generations of government disrespect of individual property rights and monetary policy that slants competition toward those that can pool assets - banks.