Marty Feldstein denounces Piketty’s Capital in the Twenty-First Century in The Wall Street Journal: “His [Piketty’s] thesis rests on … a flawed interpretation of U.S. income tax data …. The … problem with Mr. Piketty’s conclusions about increasing inequality is his use of income tax returns without recognizing the importance of the changes that have occurred in tax rules. … Changes in taxpayer behavior [in reaction to changes in the tax laws since 1980] substantially ... Read More
