Debunking Populist Mythology
** Be sure to read Diana Furchtgott-Roth’s op-ed in today’s New York Sun
where she debunks the myth
of stagnating real median incomes.
This is the liberal left populist Lou Dobbs mythology perpetuated by so many Democrats in the last election.
Americans are richer than they think according to the former chief economist at the Department of Labor.
(A couple weeks ago, she wrote another great piece
showing that differences in per-person spending by the lowest and highest quintiles of income-earners are not all that different.)
She will be joining us on tonight’s show…
** Also, check out Alan Reynolds’ terrific new book Income and Wealth
which debunks the same myths.