Income Inequality Is Not a Myth

Income inequality is a myth.

That was the takeaway from five economic studies collected by James Pethokoukis that found income gains were shared fairly equally in the 30 years before the Great Recession. What little income inequality existed, he claimed, was off-set by inflation. The stuff that the richest 10 percent like to buy has gotten more expensive than the stuff the poorest 10 percent like to buy. So, not only are low-income households making real money, but also their income is going further every year.   More Read