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| straw man at Baltimore Penn Station, 2011 |
Phil Gramm and John Early have an interesting op-ed in
the Wall Street Journal questioning conventional wisdom on income inequality
and Census reports.
They present a graph of annual Gini coefficients after
correction for government benefits paid to lower income people and taxes
collected, which they maintain shows that inequality is decreasing.
But the pandemic would obviously have distorted things
in 2020, as lower income workers bore a disproportionate share of the
sacrifices (including “people of color” and the like).
Accumulated wealth would also be a factor to consider.
And I personally think that cryptocurrency could start
to affect this graph. (Look at Tyler
Mowery’s Twitter account, for openers.) Think
about the idea that someday we could convert “social credit” to wealth on the
blockchain, if we wanted to. But,
ironically, that would contradict “critical theory”.
I worked for Census in 2010 (diennial) and 2011
(Current Population Survey).
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