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All This Inequality Talk Does Nothing for the Poor

July 31 (Bloomberg) -- Like any immigrant, I’m optimistic about the U.S. The crash will recede, confidence will come back and stronger growth will resume. The zeal of ordinary Americans to work hard and prosper will prevail over the weary incompetence of the political class. If I wanted to be pessimistic, though, I know what I’d be dwelling on right now: the new preoccupation with inequality.

Inequality is rising, and that’s a bad thing. What’s worse is that the issue is getting mixed up with what should be a more pressing debate over economic opportunity, which would be better kept separate. This is both a distraction and a danger.