Income Equality, Not Inequality, Is the Problem

Through Phil Gramm and John early

Contrary to popular belief, the most dramatic and consequential change in America’s income distribution over the past half-century is not rising income inequality, but extraordinary income growth equal rights to the bottom 60% of household earners.

Real government transfers to the bottom 20% of household earners increased by 269% between 1967 and 2017, while real incomes of middle-income households increased by just 154% over the same period. That has largely evened out the incomes of the bottom 60% of Americans. This government-created equality has caused the participation rate of working-age people in low-income households to plummet and sparked a populist realignment that is dissolving the coalition that has dominated American politics since the 1930s.

https://www.wsj.com/articles/income-equality-not-inequality-is-the-problem-labor-force-participation-income-taxes-transfer-payments-middle-bottom-rich-household-size-census-11661781351 Income Equality, Not Inequality, Is the Problem

Alley Einstein

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