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February’s Job Numbers Are Worse than You Think

February’s job numbers are worse than you think. Why? Inequality is rising. Does the left really care anyway or are they being hypocrites? Krugman perpetuating myths about wage stagnation. Have middle class incomes been stagnant for 40 years? Only if you leave out 40% of their income. And more.

Which does the left care about more: inequality or big government? The top 10% of income earners pay 68% of all federal income taxes while earning 45% of all income. The bottom 50% pay 3% of income taxes but earn 12% of income. (See here.) Suppose there were a way of taking half the income away from the top group and giving it to the bottom group. My back-of-the-envelope calculations show that the federal government would lose one-fifth of its revenue. In other words to sustain the current level of federal spending, we need lots of rich people paying high marginal tax rates.

John C. Goodman is a Senior Fellow at the Independent Institute, President of the Goodman Institute for Public Policy Research, and author of the widely acclaimed Independent books, A Better Choice: Healthcare Solutions for America, and the award-winning, Priceless: Curing the Healthcare Crisis. The Wall Street Journal and the National Journal, among other media, have called him the “Father of Health Savings Accounts.”

New from John C. Goodman!
A BETTER CHOICE: Healthcare Solutions for America
Obamacare remains highly controversial and faces ongoing legal and political challenges. Polls show that by a large margin Americans remain opposed to the healthcare law and seek to “repeal and replace” it. However, the question is: Replace it with what?

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