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A Solution to Income Inequality

Income inequality will be the political football tossed around in the coming months. The left will focus on how the rich have gotten richer over the last 20 years. This is true because in a depressed economy middle class folks lose their jobs and rich people gain by buying depreciated assets.

The left will say we need to take from the rich and redistribute to the poor and that this will bring equality. All that will do is take the incentive away from smart, creative people and reduce the economic opportunity of the poor and middle class.

I believe the solution is encourage behavior that will create more opportunity for the poor and middle class. Here is a 3 point plan:

1. Give tax incentives to businesses that create jobs and offer training opportunities for people.

2. Offer tuition assistance for degrees in engineering, math and science. Do the same for those going to technical schools (mechanics, electronics, plumbers, medical professions).

3. Offer tax incentives for people to invest in entrepreneurs and inventors to launch new companies that will employ these trained people.

This is a 3 point play where all of us win.

  • author thumbnail
    Doug Martin
  • Doug Martin is President and GM of Good News Radio Broadcasting Inc. He sits on the board of 4 Tucson.

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