Personally, I think a large portion of the argument for wealth distribution and income inequality are based on a misunderstanding of what weath and income really represent ...
At its core, money represents a portion of the productive capacity of the economy and it can be exchanged for goods or services that created in the economy. Profit represents the ability to make a good or service using less production than people are willing to trade it for. Wealth is the accumulation of assets that represent substantial amounts of production, and is most often gained by efficiently managing your resources resulting in high levels of profit or investing your productive capacity with individuals who efficiently managed resources resulting in high levels of profit.
When you take away wealth from the "rich" and give it to the "poor" you are really taking the productive capacity of the economy from those who have demonstrated the best ability to manage the economy and given it to the people with the worst ability to manage the economy. Is it a surprise that the massive growth in social transfers has resulted in a consumer driven economy that imports most of its goods from China?
The money that was needed to build the factories "of the future" has been spent on cheap consumer gadgets from developing nations; and the jobs that would have been created for the unskilled labourer in the country have been exported to developing nations.
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