Elon Musk is a beneficiary of America\u2019s lopsided prosperity \u2013 does the country have any appetite for redistribution?<\/p>\n
As Barack Obama\u2019s presidency was coming to a close, Jason Furman, then chairman of the president\u2019s council of economic advisers, laid out<\/a> the strides his administration had made to curb the nation\u2019s exorbitant income inequality in \u201cthe largest investments in reducing inequality since the Great Society\u201d.<\/p>\n Indeed, by 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<\/a> (CBO), more than under any government since at least Jimmy Carter\u2019s. They raised the slice of income going to the poorest fifth from 3.9% to 7.9%, the highest share since at least 1979.<\/p>\n Eduardo Porter is a journalist focused on economics and politics. He writes the newsletter Being There<\/a> on Substack<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Elon Musk is a beneficiary of America\u2019s lopsided prosperity \u2013 does the country have any appetite for redistribution? As Barack Obama\u2019s presidency was coming to a close, Jason Furman, then chairman of the president\u2019s council of economic advisers, laid out the strides his administration had made to curb the nation\u2019s exorbitant income inequality in \u201cthe … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-75140","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/75140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=75140"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/75140\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=75140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=75140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=75140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}