Nothing should be done, that isn't already being done. Income equality is a reality, because people aren't all equal in intelligence, drive, ingenuity, and just plain old luck. I strongly support reward for efforts, education, and industriousness, and I strongly dislike paying people for doing nothing.
I agree with the premise that people are not equal and not everybody is capable of being a doctor, lawyer, CEO, etc. But that is shortsighted and looks past the fact that much of our economic conversations in America revolve around thinking the rich need the largest tax breaks (so they can donate and contribute to help the poor as a choice), companies and not individuals deserve more tax breaks (some people believe corporate tax breaks lowers prices), and corporations should be able to buy elections and lobby politicians (corporations are people and money is speech - Citizens United).
I don't accept that there is some universal truth that everybody is paid what they deserve... that's hilarious. I have seen plenty of lazy, overpaid managers in charge of much less paid employees who are always busting their ass, working hard, never late, always willing to do extra, etc. I know many people who work where favoritism and politics supersedes hard work. But that is a micro economic issue compared to the fact that corporations themselves are people, with rights, and more power and money than you and I, and therefore, they have more influence than you and I over our government.
The gap between rich and poor keeps growing, and it's not because Americans are becoming less equal, less intelligent, or less driven as a whole. The gap continues to grow, despite the fact that the wealthiest companies in the world contributed to a massive global meltdown, and CEOs were being paid historically more than ever right before the collapse. And now, CEOs are being paid more than ever. Yet, most people would argue that CEOs who destroy the world economy aren't good CEOs, right?
This is a huge problem, and it's legitimate concentration of power and government influence where they lobby, contribute billions to campaigns, influence policy writing, and keep stacking the Federal Reserve with guys like Greenspan and Bernake who will always bailed them out.
I am not anti corporations. I am a CPA with a education in business and economics, and I constantly read books on economics and the financial meltdown. I haven't read one book by an economist who is excited about the economic policies since or before the meltdown. Also, there are a lot of falsehoods in the average citizens understanding of economics in the country as well. It's all very problematic.