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"False Narratives of Inequality"

Another review of  an important new book co-authored by former Senator Phil Gramm: The Myth of American Inequality.

For decades, there’s been no surer route to success within academic social science and history departments, or on the left side of the partisan divide, than to lament the persistence and rise of economic inequality in the United States. . . . And more broadly, in 2020 The Economist, channeling Jane Austen, proclaimed it “a truth universally acknowledged that inequality in the rich world is high and rising.”

The problem with these assertions (both quoted on this book’s opening page), as economist (and former Senator) Phil Gramm and two other distinguished academic colleagues demonstrate, is that they are false. And their falsity is a product of a distortion of statistics by economists inside and outside the government.

Related: "Paying Americans Not to Work".


"What I Bet You Don’t Know about Poverty, Inequality and the Role of Government"

There's a whole lot about poverty and inequality in the U.S. that I expect the average voter doesn't know. Two examples:

In its standard measure of income, the Census Bureau includes only 8 of more than 100 federal transfer programs. Among the benefits it excludes are refundable tax credits, food stamps, Medicare and Medicaid.

The U.S. has the most progressive fiscal system among all developed countries.