Taxes and Transfers Have Become Less Effective at Reducing Inequality | Jared Bernstein | On the Economy

Inequality is not about taxes and transfers:

• Regressive tax changes
• Shift from labor to capital incomes
• Deregulate financial markets
• Privatize social insurance
• Eroding labor standards (min wage, labor protections)
• Diminished unionization; opposition to collective bargaining
• Pro outsourcing
• Monetary policy favoring low inflation over full employment
• Diminished gov’t commitment to education
• Eroding safety net
• Anti-Keynesianism; pro austerity
• Let-it-rip campaign finance
• Smaller gov’t outlays as share of GDP

Taxes and Transfers Have Become Less Effective at Reducing Inequality | Jared Bernstein | On the Economy