Collateral Damage: Thoughts from Mitt Romney's Partner In Crime

Adam Davidson has a piece in the Sunday NYT magazine on Mitt Romney's former business partner, Edward Conrad and his new book, Unintended Consequences. At one point, the piece cites me as saying that for each dollar earned by investors (corporations), the rest of society gets five dollars.

This should not sound surprising. This is simply the division of national income between capital and labor. The after-tax capital share of corporate income is roughly one-sixth of total income. This means t...