As a question of policy, reducing economic inequality is not terribly complicated. It’s just exceedingly difficult as a political objective. The government needs to reapportion wealth so that ordinary people regain a meaningful stake in society. But those who possess wealth have mastered how to use it to manipulate democracy, preventing a fair distribution. Davos Man has consistently defeated efforts to increase his tax burden by deploying variants of the Cosmic Lie—arguing that wealth trickles down, that attempts to tax and redistribute it destroy incentives for entrepreneurs to invest and
...more
