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We propose that voters consider not only whether the absolute state of the economy has improved under an incumbent, but also include the distribution of economic benefits as an important basis for evaluating the competence of incumbent policy-makers. The extant literature on economic voting has largely only focused on questions of growth, unemployment, and inflation, but has overlooked how voter perceptions of inequality shape voter choices. In this paper, we outline the rationale for including changes in the distribution of wealth into voter evaluations of incumbents. We then model incumbent approval as a function of differences in voters' perceptions of levels of income inequality after controlling for known economic and social determinants of voting, using survey data collected in Argentina and Mexico. In both cases, voters were more likely to support incumbent presidents if when they perceived that economic inequality was diminishing. These preliminary results confirm that perceived inequalities are politically consequential. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]