Saturday, November 10, 2007

The "real" story about income inequality and income taxes?

The basic story has been that there's growing income inequality in the U.S. and elsewhere in the industrialized world, but that story is only partially correct as this article points out.

http://www.american.com/archive/2007/october-10-07/making-sense-of-income-inequality

There's a similar argument related to tax cuts supposedly making the rich richer and the poor poorer. Again, that story is only partially correct and misses much of the point.

http://www.american.com/archive/2007/november-december-magazine-contents/guess-who-really-pays-the-taxes