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Wednesday, November 15, 2006

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.

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