New Study Says Increasing Taxes on the Richest People Will Not Solve Income Inequality

Economic inequality is a protracted problem in the United States, with a widening gap between the haves and the have nots, and a low level of upward socioeconomic mobility that trails many advanced nations. The question is— what can or should be done to alleviate this problem?

A study from William G. Gale, Melissa S. Kearney, and Peter R. Orszag at the Brookings Institution, the liberal-centrist think tank, asked the following question, which is the title of their report: “Would a significant increase in the top income tax rate substantially alter income inequality?” The answer they came up with is, […]