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Truly Right View » Climate Change Myths Debunked, EPA, Global Warming Hoax, Obamacare, Political Campaigning, Politics » On Hillary, income inequality, and the GOP

On Hillary, income inequality, and the GOP

During her economic policy speech today, Hillary Clinton said the “evidence is in: Inequality is a drag on our entire economy.” But it is far from clear that’s empirically the case with advanced economies (vs. developing ones), studies suggest. For instance: There was a big jump in 1%-99% inequality during the 1990s to 21.5% in 2000 from 13.4% in 1991. (It’s actually a bit less today.) Yet both income growth and GDP growth were very strong. Clinton may credit her husband’s policies for that, but whatever. It is an example that greater inequality and broad-based income gains can coexist. Inequality also rose in the 1980s but, again, strong income growth. As Brookings scholar Rob Shapiro wrote recently about the 1980s and 1990s: ” … households of virtually every type experienced large, steady income gains, whether they were headed by men or women, by blacks, whites or Hispanics, or by people with high school diplomas or college degrees.” That, even though high-end inequality doubled. […]

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On Hillary, income inequality, and the GOP

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