Any attempt to reduce inequality would damage the efficiency of the market, impeding the rising tide that lifts all boats.
Taxes and government transfers do little to reduce inequality (see chart 1).
For good or ill, the mix of tax reforms, welfare programmes and regulatory interventions pursued in the 20th century combined to reduce inequality.
What they are doing is raising much more money in a more regressive manner, through those consumption taxes, and then using the money thus gained as transfers to reduce inequality.
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But while the progressive income tax has continued to reduce inequality, it has not kept the gap in after tax income from fairly steadily widening over the 1987 to 2009 period, the researchers found.
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If you want to reduce inequality and you want to reduce inequality the same way that other countries have successfully reduced inequality then you need to do what other countries have successfully done to reduce inequality.
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Given that Occupy Wall Street has not advocated any specific ways to reduce inequality and does not have the political organization to back up such an agenda, either others will have to find ways to curb inequality or we will see little progress on this front in the great budget battles to come shortly after the 2012 election.
Thus, correct measurement of global inequality leads to, if we want to reduce global inequality, our championing the industrialisation of the poor countries along with the globalisation that allows us to purchase those products.
If we raise the federal minimum wage and demand the 1% pay their fair share to reduce income inequality, we will boost our economy, help small business grow and create jobs.
The vision aims to eradicate poverty, reduce inequality, make growth inclusive, and production and consumption more sustainable, while combating climate change and respecting a range of other planetary boundaries.
They may thus do little to reduce unemployment, while aggravating inequality.
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Those who really believed it would advocate taxing the poor more to give to the rich: those who use the entire construct simply to support their pre-extant desire to tax the rich (or reduce inequality, increase social justice, fill in your favourite phrase here) would not.
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While many ofthe old centers of inequality in Latin America, such as Brazil, have been striving in recent years, rather successfully, to improve the plight of the poor and reduce gaps in income, America has allowed inequality to grow.
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The idea that states can build biotech parks to make up for job losses in widget factories might reduce unemployment, but is likely to lead to income inequality over the long term.
Others have experimented with targeted subsidies to the very poorest that have helped reduce inequality in Latin America (see article).
Policies that encourage competition, if done correctly, can be a tool to help reduce crony capitalism, too-big-to-fail banks, and income inequality.
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