Owen Zidar

In this episode, hosts Tracy Allaway and Joe Weisenthal interview economists Owen Zidar and Eric Zwick about their research on private business owners in America, particularly focusing on the tax implications of pass-through entities. They reveal that there are approximately three million private business owners, termed 'Main Street Millionaires,' with an average wealth of around $25 million. The discussion covers how these owners contribute significantly to income inequality, the complexities of the U.S. tax code, and the economic dynamics of various industries, including auto dealerships and dental practices. Zidar and Zwick also share insights on how their research challenges conventional narratives about wealth distribution and the role of small businesses in the economy.