American Capitalism’s Poor Prognosis
The COVID-19 pandemic has both exposed and accelerated long-term trends that will render the US economy system even more unequal and dysfunctional than it already was. Worse, the Democrats' failure to secure a decisive victory in Congress has dimmed the prospects for badly needed reforms.
PRINCETON – Those who advocate taxing the rich to give to the poor often must endure wearied explanations of why such redistribution is a pointless policy. While the rich are indeed rich, there are supposedly too few of them to tax on a scale that would help the poor.