"... inequality has been steadily increasing, while, as Branko Milanovic notes, the income of countries’ middle and lower-middle classes has stagnated ..."
Lost amidst all the talk of Covid-19, economic shutdowns, and stimulus is one simple but incredibly important question… Just who is going to pay for all of this?!?!
"New Jersey officials just reported that tax revenue in their state fell a whopping 60 percent during the month of April compared to a year ago."
"And it only took a little more than one year to do it."
"Should the United States lose its status as the global hegemon, bipartisan fiscal profligacy must surely take a major part of the blame."
"...fiscal profligacy has been marked by extraordinary levels of bipartisan collegiality."