Kevin Williamson corrects misleading data in the NYT in Connecting Some Dots on Taxes:
Tomasky and others frequently write that the top 1 percent or, in this case, the top 0.00025 percent, has more wealth than the bottom 60 percent or the bottom half or some other population share that looks shocking until you learn that almost 70 percent of U.S. adults have less than $1,000 in savings and that a third of them have no savings at all, and that 20 percent of Americans have a net worth that is zero or negative and a considerably larger share has a net worth that is trivial. Think of it this way: It is not only Bill Gates, but also those of you with a net worth of $1 who have more wealth than the bottom fifth of Americans combined. Those of you with $1,001 in savings worth have more in the bank than the great majority of all Americans. That is not because Bill Gates and you hoovered all the money up — it is because a great many Americans do not save very much.
Kevin explains why so many of the New York Times economic columnists infuriates me, and how the ignorant are so easily duped