With outright lies dominating estate tax debate on Capitol Hill, two Washington Post columnists have different takes on the untruths of the anti-tax crowd.
Staging an Olympics in Boston could help reduce the wealth gap, but only if planners identify the interventions that could reduce the city’s most basic disparities.
Though several members of Congress lauded the 2015 Congressional spending bill as reassuring evidence of bipartisan cooperation, the bill was actually just a holiday giveaway to the 1 percent.
Everybody knows that the United States has become much more unequal since 1980. Can we expect the nation to get still more unequal? Unfortunately, yes. With top 1 percent incomes growing faster than the incomes of everyone else, increasing inequality will be inevitable.
Many individuals helped construct neoclassical economics, often with financial support from the robber barons and their successors. I will focus on two: in the United States, John Bates Clark (1847-1938), and in Europe, Vilfredo Pareto (1848 to 1923).
In Thomas Piketty’s doomsday model, slowing of growth in the twenty-first century will cause an inexorable increase in inequality. Piketty is not the first to propose a grand model of inequality and growth. To get some perspective on his model, let’s see what the “classical” economists had to say (Part I), and how the “neoclassical” economists responded (Part II).
In his surprise best-seller, Thomas Piketty warns that growing wealth inequality will have a corrosive impact on our democratic institutions.
Today’s super rich engorge themselves on federal dollars and evade billions in taxes while ordinary Americans work themselves to the bone. Professor of Law and Public Policy Sheila Suess Kennedy maintains it’s high time we rethink who are the ‘makers’ and the ‘takers.’
Pundits usually have income in mind when they talk about the top 1 percent. And analysts sometimes rank our richest by wealth. But Duke University sociologist Lisa Keister points out that if we really want to understand privilege, we need to start looking at both.
If you give a dollar to a middle class family, that family will spend that dollar in the local economy and spur growth.