Is Inequality in the US a Myth?

According to a statement, In The Myth of American Inequality, Senator Gramm and Economists John Early and Robert Ekelund show that everything you know about income inequality, poverty, and how other measures of economic well-being in America are wrong.

“In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way the government measures economic well-being, they show that the assumptions dramatically undercount income. Getting the facts straight shows that every measure of well-being is greater than the official statistics of the country would lead us to believe. Income inequality is lower today than at any time in post-World War II America. The facts reveal a very different and better America than the one that is currently described by advocates across much of the political spectrum.


“Phil Gramm served six years in the US House of Representatives and eighteen years in the US Senate, where he was chairman of the Banking Committee. He was the author of the Reagan budget in the House and landmark budget and banking legislation in the Senate. He taught economics at Texas A&M University and has published numerous articles and books. He currently works in private equity and is a nonresident senior fellow at the American Enterprise Institute.”