Ronald Bailey Says Obama Is Wrong About Income Inequality
Are the rich getting richer? Yes. Are the poor getting poorer? No. In fact, over the past 35 years most Americans got richer. Has income inequality increased in the United States? Yes. Does it matter? Well, President Barack Obama thinks so. In a December speech at the Center for American Progress, the president declared that "a dangerous and growing inequality and lack of upward mobility" is "the defining challenge of our time." Is that true? Ron Bailey says no.