(I disagree) Major drivers of the rise in wealth inequality: significant drop in tax progressivity

“There is one main finding: by far the most important driver is the significant drop in tax progressivity that started in the late 1970s, intensified during the Reagan years, and then subsequently flattened out, with only a minor bounce back. The sharp observed increases in earnings inequality, the falling labor share over the recent decades, and potential mechanisms underlying changes in the gap between the interest rate and the growth rate (Piketty’s r-g story) all fall far short of accounting for the data.”

from https://www.nber.org/papers/w23011

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Author: Ron Joads

On a quest to help people do what's best blah blah blah yup yup yup

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