US income inequality persists despite Obama-era redistribution efforts
By
Eduardo Porter
Summary
The article examines the persistent and growing income inequality in the United States, contrasting the modest redistributive achievements of the Obama administration with the broader trend of wealth concentration among the top 1%. It questions whether America has the political appetite for meaningful redistribution, using Elon Musk as a symbol of the country's lopsided prosperity. The piece analyzes economic data, policy efforts, and the structural challenges facing any attempt to curb inequality.
Source
bskyUS income inequality persists despite Obama-era redistribution effortstheguardian.comKey quotes
· 3 pulledBy the end of 2016, taxes and transfers cut the share of income accruing to the richest 1% of households by just over a fifth, according to estimates from the congressional budget office (CBO), more than under any government since at least Jimmy Carter's.
The largest investments in reducing inequality since the Great Society.
Elon Musk is a beneficiary of America's lopsided prosperity – does the country have any appetite for redistribution?
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