As a new year dawns, it's customary to reflect on the past and set resolutions for the future. This year, let's resolve to greet three widespread claims with healthy doses of skepticism.
The first dubious claim is that income inequality in the United States has inexorably risen since the 1960s. It's a scary narrative heavily bolstered by the work of three French economists: Thomas Piketty, Emmanuel Saez, and Gabriel Zucman. According to these researchers, the situation was fueled mostly by tax cuts for top income earners during President Ronald Reagan's administration. Their proposed remedy, not surprisingly, is a sky-high, French-like level of taxation.
