I generally agree with this analysis, but there are two areas in particular that keep tripping me up:
Focusing on income taxes does not take into account generational accumulation of wealth which is a huge factor in wealth inequality, and especially racially disparate wealth inequality. Means testing tries to take this into account by looking at overall assets, not just current income. (This could also be addressed by some kind of overall wealth tax, for example as proposed by Elizabeth Warren, but that's been pretty controversial when proposed
I generally agree with this analysis, but there are two areas in particular that keep tripping me up:
- Focusing on income taxes does not take into account generational accumulation of wealth which is a huge factor in wealth inequality, and especially racially disparate wealth inequality. Means testing tries to take this into account by looking at overall assets, not just current income. (This could also be addressed by some kind of overall wealth tax, for example as proposed by Elizabeth Warren, but that's been pretty controversial when proposed
... (read more)