Is Ted Cruz Right About Rising Inequality?

Max Ehrenfreund questions Sen Ted Cruz’s claim that inequality has worsened with the Obama administration’s policies: “I chuckle every time I hear Barack Obama or Hillary Clinton talk about income inequality, because it’s increased dramatically under their policies.”

“That’s not true, though.”

According to David Leonhardt, “the steps that the federal government took in response to the [Great Recession], including tax cuts and benefit increases, have mostly helped the nonwealthy.”

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“The income of the top 1 percent – both the level and the share of overall income – still hasn’t returned to its 2007 peak. Their average income is about 20 percent below that peak. Yet we have all become so accustomed to rising inequality that we seem to have lost the ability to consider the alternative. Maybe it’s because many liberals are tempted to believe inequality is always getting worse, while many conservatives are tempted to believe that the Obama economy is always getting worse.”

 

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