The rich may be getting richer, but the poor are definitely not getting poorer. In fact, most Americans got richer over the last 35 years. President Obama likes to stress that income inequality has increased in the United States, but it is hardly “the defining challenge of our time,” as he has called it, says Ronald Bailey, a science correspondent for Reason Magazine.
President Obama has suggested that rising inequality limits income mobility, leaving Americans stuck at the bottom. This is not supported by data.
Inequality is not the defining challenge of our time. That distinction belongs to persistent joblessness and weak economic growth, perpetuated by administration policies.
Source: Ronald Bailey, “Obama: Wrong About Income Inequality,” Reason Magazine, April 2014 (as reported by the National Center for Policy Analysis).
I wanted to publicly say how much I appreciate Georgia Public Policy Foundation. For those of you that will be entering the Legislature or are relatively new you may not quite yet appreciate how much we rely on Georgia Public Policy Foundation’s research and work. As you know we’re a citizen’s legislature. We have very little staff. They have been an invaluable, invaluable resource to us. To put this [Forum] on and the regular programs that they do throughout the year make us better at what we do. (At the 2012 Georgia Legislative Policy Forum.)