A Huge Take-Away on Income Inequality: Barron’s Cites John Apruzzese’s Investment Outlook
Barron’s cited Evercore Wealth Management CIO John Apruzzese’s view that any discussion of income inequality in the United States must include federal payroll taxes (the amounts taken out for Social Security and Medicare), as well as income taxes, and the income-redistribution programs they help finance.
Too often, any one of these elements is viewed in isolation, he was quoted as saying, leading to erroneous conclusions, such as that “half the people don’t pay any taxes.”
To read John’s latest thinking in Independent Thinking, click here. Barron’s subscribers can view the article in full here.