January 8, 2014
President Barack Obama says income inequality is "dangerous ... the defining challenge of our time." The pope is upset that capitalism causes inequality. Progressives, facing the failures of Obamacare, are eager to change the subject to America's "wealth gap."
It's true that today, the richest 1 percent of Americans own a third of America's wealth. One percent owns 35 percent!
But I say, so what? Progressives in the media claim that the rich get richer at the expense of the poor.
But that's a lie.
John Stossel is host of "Stossel" on the Fox Business Network. He's the author of "No They Can't: Why Government Fails, but Individuals Succeed." To read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.
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