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Thursday, January 30, 2014

Income inequality vs gender equity?

Did women's lib cause income inequality? If you accept the premise that women's lib propelled millions of women into high paid careers and that those women tend to marry high paid men it's not hard to see how that would skew family income. I'm of the opinion that income inequality has always existed and counter to Obama's contention it is not at an all time high. Furthermore the high earners are not the same people from year to year. Most of the income of those who earn more than a million dollars per year come from stock trades and very few are able to repeat that year in and year out. In many cases it's a once in a lifetime event. In an earlier post I reported that the Utica boom created 550 millionaires in Carroll County, Ohio. Most of that wealth was generated from leasing property for exploration and was received when the property owners signed the lease. It will not happen again so Obama need not wring his hands about all wealth in Eastern Ohio.
Returning to the power couple, not only do rich marry rich they also stay married. Successful marriages correlate with wealth maybe because divorce is too expensive at those levels but nevertheless the rich tend to stay married.

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