Everything you know about income inequality, poverty, and other measures of economic well-being in America is wrong. In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way government measures economic well-being, they demonstrate that our official statistics dramatically overstate inequality. Getting the facts straight reveals that the key measures of well-being are greater than the official statistics of the country would lead us to believe. Income inequality is lower today than at any time in post- World War II America. The facts reveal a very different and better America than the one that is currently described by policy advocates across much of the political spectrum. The Myth of American Inequality provides clear and convincing evidence that the American Dream is alive and well.

By Phil Gramm; Robert Ekelund and John Early

Preface

Chapter 1: Every Official Measure Understates America's Wellbeing

Chapter 2: Inequality in Producing and Consuming in America

Chapter 3: Poverty in America

Chapter 4: Trends

Chapter 5: Causes of Earned Income Inequality

Chapter 6: Measures of Wellbeing

Chapter 7: Super Rich

Chapter 8: Mobility

Chapter 9: Fifty Years of Growth

Chapter 10: Solutions

Bibliography

Appendices

About the Authors