Well Venezuela has an income inequality of almost 0. I can’t look up the Gini coefficient but I can guarantee you that they are all equal save for the government cronies.
Income inequality is always parroted as the measurement for a healthy economy, but as my previous point suggests it’s not the end be all.
Surely, I agree with you but in the same manner you have freak athletes at what point do you tell Lebron James, Ronaldo, etc that they are “much too skilled and talented” compared to others?
America’s poor are rich in comparison to other countries’ poor. It’s a perception problem, even for the citizens of UAE (forgetting the second class workers for a minute). There’s going to be the random citizen who only owns 3 Ferraris and a small penthouse in London, while some others have 20 cars and two mansions in London and NYC.
Who knows. I'm sure there are many economics papers addressing the question. But it's somewhere before you get to the historic inequality levels of today https://fred.stlouisfed.org/series/GINIALLRF
To be fair, inequality levels were comparable in 1929, which falls outsize of the scope of that chart. Still historic by US standards, but not unprecedented.
Rather than a single cut-off you just scale this gradually so there is no single wealthy/not wealthy divide but an increasing expectation to carry social responsibility as your wealth increase.
Income inequality is always parroted as the measurement for a healthy economy, but as my previous point suggests it’s not the end be all.