“Virtually all of the data cited by the left to decry the supposed explosion of income inequality, as Lee Ohanian and Kip Hagopian point out in their seminal paper, "The Mismeasure of Inequality" (Policy Review, 2011), use a Census Bureau definition of "money income" that excludes taxes, transfer payments like Medicaid, Medicare, nutrition assistance, the Earned Income Tax Credit, and even costly employee benefits such as health insurance.
Thus the data that is conventionally used to calculate the so-called Gini coefficient—the most commonly used measure of income inequality—ignore America's highly progressive income tax system and the panoply of benefits and transfer payments.”
http://online.wsj.com/news/articles/SB10001424052702303773704579269990020773098?mod=trending_now_4
Income inequality? There’s a huge gap between the Obama household and the Bruce household. And Oprah Winfrey and the Obama household. And George Soros and Oprah Winfrey. And Bill Gates and George Soros. Good luck Mr. President in making us all equal.
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