The former Texas senator says income inequality is a myth. He couldn’t be more wrong, but I admire the old grouch for trying. The former senator and onetime economist at Texas A&M amassed a fearsome campaign war chest to run for the Republican presidential nomination in 1995, only to quit the race in February 1996 after suffering humiliating defeats in Iowa and New Hampshire. That year’s Republican nominee, Bob Dole, would later lose to President Bill Clinton.