What should the Dems do?
Greg Mankiw analyzes new VA Senator Jim Webb’s editorial in the Wall Street Journal on income inequality:
Erecting barriers to trade, raising the minimum wage, encouraging the cartelization of labor via unions, and bashing Wal-Mart are inefficient and poorly targeted ways to redistribute income.
On the subject of income inequality, find out “How rich are you?” Turns out, if you earn over $47,466, you are part of the “richest 1%” in the world. Looks like being middle class in America ain’t so bad.