Myth: Income disparities don't matter; only absolute poverty matters.

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Note: This video is part of a series which debunks myths pertinent to laissez-faire capitalism. Many points not addressed in this video can be found at the above link.

Myth: Income disparities don't matter; only absolute poverty matters.

If we value happiness, success, and fulfillment of beings, income disparities are of the utmost importance. Evidence suggests that "almost every modern social and environmental problem—ill-health, lack of community life, violence, drugs, obesity, mental illness, long working hours, big prison populations—is more likely to occur in a less equal society." [Source] These problems affect not merely the poor, but the majority of the population—including the wealthy. The facts show that even the wealthy are better off in a more equal society.

For more on the problem with income disparities, see:
Myth: A rising tide raises all boats—even the poor are getting richer as time goes on. Because people are able to buy expensive things like cars and cable television, they must not be suffering from poverty.
Myth: Theres no reason we shouldn't allow people to get extremely rich.
Myth: Rich people and powerful private institutions are held accountable by a public who buys their products, rendering them largely incapable of using the power of their wealth to hurt others.
Myth: Unethical behaviors perpetrated by rich institutions are rare.

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[Guncriminal]

Gish Gallop.

[catgumart]

There are so many problems and injustices and ill effects all through the bottom classes (Id say 50,000 a year and under) thanks to class and income disparities. Too many to report here in this space, but lets say that many of them are over looked, minimized, pooh poohed,written off or not acknowledged, people suffer immensely because of income disparity, class, and economic injustice and I look forward to the day (if I'm still alive) when society sheds its old skin of tyranny and exploitation.