That headline reflects, of course, the policy prescription that big-government types support after reading the data cherry-picked for a new Bloomberg Businessweek report.
Fans of Thomas Sowell?s work will see through the fog created by these statistics, which hide some important facts. Among them: The use of ?household income? rather than average income per person skews the picture, as does the false assumption that membership in the ?top 20 percent of households? and the ?bottom 20 percent? is static.
Setting the statistical squibbling aside, a story like this one is designed to support the Obama administration?s push for tax hikes on families earning more than $250,000 a year. Roy Cordato explains below why that?s a bad idea.
