To Preserve Democracy, Tax the Rich
By enabling a few wealthy individuals to wield disproportionate influence, today’s global economy increasingly marginalizes and disenfranchises much of the world’s population. What we need is a progressive tax system that redistributes income from the rich to the poor without weakening socially beneficial incentives.
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NEW DELHI – While there are many ways to measure economic inequality, key metrics consistently show that disparities are getting worse. According to a recent United Nations report, 71% of the world’s population now live in countries where inequality has increased.