Busting the Myths of American Income Inequality | Phil Gramm

Hold These Truths with Dan Crenshaw

Dan Crenshaw

Politics, Energy, Healthcare, News, World, Society & Culture, Regulations, Finance, America, Freedom

4.6 • 16K Ratings

🗓️ 10 May 2023

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Much of what you hear about income inequality, poverty, and other measures of economic well-being in America is wrong, biased by government statistics and populist rhetoric. Former U.S. Senator Phil Gramm joins Rep. Crenshaw to elucidate the real trends behind income equality in America today and why we should dispel the populist notions that some great economic injustice is occurring between the classes. Sen. Gramm also reflects on the changes he’s seen in politics since he first took office in 1979 and why Americans are so much angrier now, despite living in arguably the best economic conditions in human history.

Phil Gramm is the author of the WSJ Best Politics Book of 2022, “The Myth of American Inequality: How Government Biases Policy Debate.” He was the U.S. Senator serving Texas from 1985 – 2002. He is now a Senior Fellow at American Enterprise Institute researching reforms to social security, health care, and taxes.

Transcript

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0:00.0	We hold these truths to be self-evident.
0:02.0	That all men are created.
0:04.0	There's a member of Congress, I get to have a lot of really interesting people in the office.
0:07.0	Experts on what they're talking about.
0:09.0	This is the podcast for insights into the issues.
0:11.0	China, bioterrorism, Medicare for all, in-depth discussions.
0:16.0	Breaking it down into simple terms.
0:18.0	We hold these truths with Dan Crenshaw.
0:24.0	All right, welcome back everybody.
0:25.0	We're here with my friend and fellow Texan Senator Phil Graham.
0:29.0	Thanks for being on.
0:30.0	Oh, thank you very much.
0:32.0	So, I want to frame this discussion for the audience a little bit.
0:39.0	If you listen to people like Elizabeth Warren and Bernie Sanders,
0:43.0	you would think that income inequality is the number one issue facing America.
0:48.0	It's the worst sentence ever.
0:49.0	It's worse than any other country.
0:51.0	And our anti-poverty programs just can't keep up.
0:54.0	They don't even compare to what other nations are doing for their citizens.
0:58.0	According to this narrative, the average American to lowest income,
1:01.0	quintile works two to three jobs just to keep up routinely.
1:04.0	And during much longer work weeks and those at the top who live leisurely lifestyles,
	...

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