◼ Thomas Piketty’s Capital in the 21st Century is a smash on the Amazon bestsellers list. It is all the rage in Washington and other corridors of influence. - Curtis Dubay/Heritage Foundry
...Figuring out how we can lift the economy out of its now six-year-long rut should be the paramount goal of those concerned with rising inequality.
The debate over inequality isn’t going away anytime soon, since liberals have taken Obama’s lead and chosen it as their policy battleground leading up to 2016.
When going up against a familiar opponent, it’s always comforting to know which play they’re going to call. When it comes to inequality, liberals will call the same play in 2016 they called for in 1916.
Conservatives know what’s coming. They should have a superior defense ready for deployment.
◼ Get Capital in the Twenty-First Century at Amazon
◼ Inequality Myths - CATO Institute
From President Obama to Paul Krugman, Thomas Piketty to Elizabeth Warren, the Left has adopted “inequality” as the cause of the day. They paint a picture of a new Gilded Age in which a hereditary American gentry becomes ever richer, while the vast majority of Americans toil away in near-Dickensian poverty. It’s a compelling political narrative, one that can be used to advance any number of policy proposals, from higher taxes to increases in the minimum wage.
Unfortunately, bad facts make for bad policy. Let’s look at just some of the ways they get it wrong....
There is good reason for this country to have a debate over issues such as how best to reduce poverty and increase middle-class incomes. But beating the inequality drum will do little to contribute to that debate.
