While AOC, Bernie, Elizabeth and their fellow travelers decry “income inequality”, a new book claims America’s problem is too much income EQUALITY. And as Ocasio-Cortez, Sanders and Warren foment rage toward “millionaires and billionaires”, that’s not where our coming troubles lie. Here’s why: If you include so-called transfer payments to the poor and you subtract the cost of taxes from working folks a bit higher up the income scale, per capital income is roughly equal.
This episode of Right Angle previews the idea behind the new book, “The Myth of American Inequality“, by Phil Gramm, John Early and Robert Ekelund, available starting September 15, 2022.
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