Equal Is Unfair: America's Misguided Fight Against Income Inequality

We’ve all heard that the American Dream is vanishing, and that the cause is rising income inequality. The rich are getting richer by rigging the system in their favor, leaving the rest of us to struggle just to keep our heads above water. To save the American Dream, we’re told that we need to fight inequality through tax hikes, wealth redistribution schemes, and a far higher minimum wage.

But what if that narrative is wrong? What if the real threat to the American Dream isn’t rising income i...