Income inequality has been a rallying cry from the President to the Mayor of NYC, but the problem has been severely overstated if it is indeed a problem at all, says Ed Conard, author of "Unintended Consequences". If income inequality was hurting the U.S. economy, then we would not be outperforming the rest of the developed world, says Conard. Conard also disagrees with those who believe raising the minimum wage would close the gap between rich and poor in America, saying it would hurt those below the poverty line more than it would help.

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