Does Income Inequality Matter?
What about 1% of $53 million, which was the bonus of one man. Now, take that and extrapolate it to the excessive incomes (does anyone need >1 million per year?) of everyone in America. I guarantee that if you distributed anything over $1 million per year to the lower / middle class, a lot more people would go to college and live better lives.
1% of one million is $10,000. I spent more than that on college but I'm sure you could get an education for less than that. But let's say that a million-dollar-bonus earner was forced to give it away in 1% increments. He would be able to give $10,000 to exactly 100 people (all before taxes of course). After taxes, he could give approximately $6000 to 100 people, who in turn would only receive $4000 each (after taxes again). Could you go to college on $4k?
I'm not saying that the government should do such a drastic income redistribution, but don't talk about a $53M bonus as if it were a $1M income.