Barack and Joe: Social Justice

In 'splaining things to Joe the plumber, then-candidate Obama leaned hard on the unfairness of our current political-economic system: We haven't given a break to folks who make less [the $250,000] and, as a consequence, the average wage and income for just ordinary folks, the vast majority of Americans, has actually gone down over the last eight years. Boy -- is that a commonplace. Before we get to the data, I have to say this proposition, that things have gotten worse (this is in 2008, remember) for the "folks," to me is intuitively false.  Is that bias?  I don't think so; I may be wrong, but my conclusion is based on simple, admittedly totally anecdotal, experience.  I look around.  I see some people who get lucky -- they get a bunch of stock options and their company takes off.  I see some people who exploit an opportunity to loot public funds -- I think of Franklin Raines.  Guys on Wall Street make fortunes.  Is any of this new?  Most...(Read Full Article)

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