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Income Inequality: Is Income and Wealth Inequality Morally Wrong?

In many ways there are greater gaps than ever between the rich and the poor. In difficult economic times, this is seen by some as a glaring injustice that must be remedied. This point of view says that there should not be a "one-percent" that lives so much better than the other "ninety-nine percent" -- that wealth must be redistributed.

On the other hand, there are those who say that it is no one's business what anyone does with their legally-gained assets. They argue that anyone who wants to can work harder.

What wisdom does Judaism have to offer on the issue of wealth and income inequality? Is wealth a mark of sin -- a sign that a person has taken too much and has necessarily impoverished others? Is poverty a sign of laziness or ineptitude -- an outer indication of a poor character? Why is there inequality in wealth, and what, if anything, should we do about it? Would Torah advocate for redistribution of wealth to create greater economic equality?