Thursday, November 13, 2014

Three views on income inequality

  1. Online WSJ - Phil Gramm - How to Distort Income Inequality

    "The Piketty-Saez data ignore changes in tax law and fail to count noncash compensation and Social Security benefits. A new study in the Southern Economic Journal, we know what the picture looks like when the missing data are filled in."

  2. Slate - Yes, the Middle Class Really Is Sinking

    "How badly is health care eating into paychecks? According to Reeves’ Brookings colleague Gary Burtless, health insurance and noncash benefits from the government made up 17 percent of after-tax income for the middle fifth of American households in 2010. In 1980, it was just 6 percent."

  3. The Guardian - Fed chair Janet Yellen says income inequality is un-American

    "The lower half of U.S. households ranked by wealth held just 1% of total wealth last year, down from 3% in 1989"