The Inequality Myth
Depends on how you define things.
The American Enterprise Institute’s James Pethokoukis challenges the “income inequality” myth Democrats keep pushing, saying that measuring such inequality depends on the tool you use. Politicians use market income, which is wages, salaries, etc. – the basics. But if you use disposable income, which includes all government income redistribution, inequality hasn’t grown. According to Fabrizio Perri, an economist at the Minneapolis Federal Reserve, “[A]lthough inequality at the top in market income is currently at its historical high, inequality in disposable income has actually been flat or slightly falling over the past 15 years. This is because government redistribution between the top and the middle … is also at its historical high.” And it’s never enough for Barack Obama. More…
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