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Created by dipity on Mar 13, 2009
Last updated: 03/13/09 at 09:05 PM
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...Renewing America's Promise." Henninger directs us to a chart on Page 11, crafted by French economists Thomas Piketty and Emmanuel Saez ("rock stars of the intellectual left"), which purports to show that beginning with the Reagan era, the top 1 percent of...
...top 1 percent have soared for thirty years while median wages have slowed or declined in real terms. As economists Thomas Piketty and Emanuel Saez have shown, in the 1970s the top-earning 1 percent of Americans took home 8 percent of total income; as recently...
...have enriched only the wealthiest 10 percent of Americans, according to the work of economists Thomas Piketty and Emmanuel Saez. But it’s not just the historical accuracy of Obama’s remarks that is notable, however much they represent a departure from the practice...
...created. Second, Piketty and Saez have pretty convincing answers to all of Reynolds' objections to their data. Third, Piketty and Saez come across as data jockeys with no particular axe to grind, while Reynolds is an overt ideologue. Finally, when Reynolds...
...calculate the top 1 percent's share of total income, we need a definition of total income. For postwar data, Messrs. Piketty and Saez use a modified version of adjusted gross income (AGI). Unfortunately, the Bureau of Economic Analysis calculates AGI is not...
...share of income at the top is simply a result of this paper shuffling regarding where business income is reported. This Piketty-Saez data has been frequently misused by Paul Krugman, the Economist magazine, and many other news outlets to draw grand conclusions...