Magazine March 22, 2021, Issue

Income Inequality Revisited

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Does it matter, and why if so?

When administrations change, so do the government’s priorities. The Trump administration, like most Republican administrations, emphasized economic growth as a means by which American workers, especially blue-collar and unskilled laborers, could see an increase in their income and, consequently, their standard of living. To that end, the last administration pursued deregulation and corporate-tax reform. The Biden administration, by contrast, has chosen to put a renewed emphasis on tackling income inequality — a common theme in the Obama years. To that end, the new administration hopes to increase corporate and personal income taxes as well as legislate a higher federal minimum

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Marian L. TupyMr. Tupy is a senior fellow at the Cato Institute’s Center for Global Liberty and Prosperity and the editor of HumanProgress.org.

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