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Richmans' Trade and Taxes Blog
The rich are getting poorer, and the poor are getting richer... but you wouldn't know it from the press coverage
Jesse Richman, 10/10/2019
A recent piece on Real Clear Markets does an excellent job of taking down recent highly distorted reporting of the poverty and income growth data for 2018 that the Census Bureau recently released.
https://www.realclearmarkets.com/articles/2019/10/10/the_economic_news_from_the_census_bureau_is_very_good_103941.html
Most of the commentary suggests inequality is increasing and Trump is to blame. But in fact the incomes of the lower income groups are increasing faster than the incomes of high income groups.
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