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Why Income Inequality Suddenly Matters
Saturday, November 12th, 2011
Nov. 11, 2011
… we believed that “it is OK to have ever-greater differences between rich and poor … as long as (our) children have a good chance of grasping the brass ring.” … However, the last three decades have invalidated our standing hypothesis… Of course, some class mobility still exists. The trouble is that it’s primarily of the downward kind… data from the [OECD] show that social mobility in uber-capitalist America is actually lower than in most industrialized countries… And this is why, among all the fights over economic policy, the debate about taxes is the most crucial of all.
Tags: economy, standard of living, tax
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