I just watched this video on how much different people earn in a minute (including a minimum wage worker, a median worker, a teacher, a physician, Rex Tillerson and Kobe Bryant). There is no conclusion drawn in the video so I assume the creator, Bart Edlund, is presenting a set of facts from which the viewer is free to draw this or her own conclusion. So here's my conclusion:
Markets reward people differently. Some people make a lot of money. Some people make a little. Some people think those who make a lot make too much. Many people think those who make a little don't make enough. Some people think that Rex Tillerson is evil incarnate. Some people would say that the income disparity depicted in the video is unfair. I don't know how to define unfair. So I choose to dismiss fairness as a singular criterion for decision making. Although it must always be considered.And the government can help. Or not. I don't begrudge someone being paid what others are willing to pay. And I don't advocate for taxing those who make 'a lot' based solely on the argument that they make 'too much.' I believe everyone should pay their 'fair share.' But I have no idea how to define a 'fair share.' I conclude that market based wages are the worst system for determining how much someone should make--except for any other system. I know that is not an original thought.
