Using policy to shift economic power and make U.S. incomes grow fairer and faster. Boosting income growth for the bottom 90 percent requires a policy agenda that explicitly aims to halt or reverse the rise in inequality. Finding no relationship between rising inequality and faster growth means raising living standards for the bottom 90 percent can likely be better for overall growth.
On this month’s 50th anniversary of one of the all-time edgiest Beatles tracks, our super rich have a special reason to look back fondly on the lads from Liverpool.
The Panama Papers illuminate a key aspect of why the system isn’t working–because globalization has allowed the capital and assets of the 1 % (be they individuals or corporations) to travel freely, while those of the 99 % cannot. I think we’re heading towards a root to branch re-evaluation of how our market system works–and doesn’t work.
Hillary Clinton's tax plan would result in modest decreases in after-tax income that would figure to irritate America’s most financially fortunate. But that irritation would likely turn to outright outrage if the Bernie Sanders proposals ever went into effect.
Our world’s billionaires don’t merit either their billions, the economist Didier Jacobs suggests, or the right to claim we’re all living in a ‘meritocracy.’
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