[mikebracco]

Two observations:

1. Working hard doesn't entitle you to anything. Tired of politicians making this claim.

2. Part of rise in inequality is powered by technology. I'm sure in 1970 you couldn't have created a billion dollar company with 12 people in 2 years (Instagram).

[opinali]

"Working hard doesn't entitle you to anything." -- well said. I am a software engineer, I always worked hard and I have a good income; but I'm by no means rich and most likely will never be, mostly because I've got no entrepreneurial genes. But that's alright, I think people who (besides the hard work) take high risks by creating new companies or even working their asses off in a startup that may or may not succeed, deserve an extra reward.

OTOH, the poor schmucks who work in the car wash a few blocks of my house, so I can have my car cleaned for $9 even in the winter with temperature below freezing? I would say they work much harder than me. And very likely they always did, they were already sweating over some soul-crushing job when they were teenagers (or even earlier), while at that age I had the privilege of being fully dedicated to my education. Not to mention always having a good and stable life -- food, healthcare, parents who had the means to care for me, etc.

Simple truth is that inequality of opportunities is huge. Another poster mentioned Bill Gates, well I don't take his merit away but Gates was the son of a wealthy attorney and a wealthier banker. Even Bill's entrepreneurship is something that can be attributed at least in part to the fact that he had a very good safety net to fall -- if he failed, he wouldn't exactly be screwed for a decade with debt.

[El_Mariachi]

In 1970 that billion dollar company would have been valued as such based mainly on its assets and cash flow, not its irrational-speculator-fueled market capitalization bubble.