The Myth Of American Income Inequality
BY PGF
2 years, 3 months ago
You saw it first at TCJ:
Now Phil Gramm & John Early have put numbers to the fact in a Wall Street Journal Op-Ed.
Contrary to conventional wisdom, the most dramatic and consequential change in the distribution of income in America in the past half-century isn’t rising income inequality but the extraordinary growth in income equality among the bottom 60% of household earners.
Real government transfer payments to the bottom 20% of household earners surged by 269% between 1967 and 2017, while middle-income households saw their real earnings after taxes rise by only 154% during the same period. That has largely equalized the income of the bottom 60% of Americans. This government-created equality has caused the labor-force participation rate to collapse among working-age people in low-income households and unleashed a populist realignment that is unraveling the coalition that has dominated American politics since the 1930s.
Via Instapundit
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On September 4, 2022 at 8:30 pm, RomeoCharlieWhiskey said:
G-men/women, the veritable figurative bull in the china shop; what they don’t destroy they poop on, that is when they’re not usurping our freedom & money.
We need more of them & that. /sarc off
On September 4, 2022 at 10:22 pm, George 1 said:
Really makes the average guy want to go out and work hard and put in extra effort doesn’t it?
On September 5, 2022 at 8:31 am, June J said:
Happy Labor Day to all the working Americans whose efforts allow 50% of the people in the USSA to receive their free government benefits.