The Myth of American Inequality Quotes

“homes. In this book, we will show how claims that real hourly earnings and real median household income have stagnated in postwar America and that the poverty rate has remained unchanged for fifty years are solely the result of a failure by the statistical agencies of the American government to count most transfer payments as income and to use the most accurate available price indexes to adjust for inflation. Every significant measure of economic well-being expressed in terms of dollars is higher than the official measure shown in government statistics.”
― Phil Gramm, The Myth of American Inequality

“The federal personal income tax was the largest tax payment, with top-quintile households paying an average of $54,006, while the bottom two quintiles paid no federal income tax at all, in part because the Earned Income Tax Credit and the Child Tax Credit offset any income taxes that they would have otherwise owed.”
― Phil Gramm, The Myth of American Inequality

“in the words of Adam Smith, to overcome “not only the disease but the absurd prescription of the doctor.”
― Phil Gramm, The Myth of American Inequality