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The French proposal is half right. Broadening the tax base is a good idea. But the point is to allow for lower overall tax rates, not to confiscate wealth. We could do more to address inequality by making sure that all income is taxed, rather than increasing rates on the already burdened.

The third category is entrepreneurial income, like small-business income, founders’ stock and carried interest for fund managers. The income here is mostly a return on labor, not capital, but it is often lightly taxed as investment income. And this is where the debate tends to get heated.

We should start by plucking the low-hanging fruit. Carried interest is labor income, not investment income, and it’s not as mobile as financial capital. Few New York-based fund managers will give up United States citizenship and move permanently to Singapore just to avoid paying tax on carried interest.

When the topic is growing income inequality, it’s hard to prettify an imbalance between the rich and everybody else, so instead conservatives try to argue that it doesn’t exist.

Anyway you slice it, income inequality has been growing rapidly. (Overall, the federal government effects about one-quarter less redistribution today through taxes and benefits than it did in 1979

Hassett and Mathur next point out that people’s earnings tend to rise over their working lifetimes, so “snapshot measures of income inequality can be misleading.” True, but when you correct for demographic factors (today’s population is older than it was 33 years ago, and divorce and single parenthood have made households smaller), you find that income inequality, though less extreme than shown by the standard measure, is also growing faster than shown by the standard measure.

Racially and politically, Antlers is typical of much of rural Oklahoma, a state forged from the 19th century territory set aside for Native American tribes forcibly removed from other parts of the United States. Antlers is now 75% White and 22% Native American or mixed race, but with very few Latino, Asian, or Black residents. In 2020, Antlers and its county, Pushmataha—which supported former President Bill Clinton in 1996 and even Jimmy Carter over Ronald Reagan in 1980—voted for Republicans, 85% to the Democrats’ 14%, up from an 80% share for Republicans in 2016, 54% in 2000, and 34% in 1996.

Antlers’ social statistics are beyond alarming. Nearly one-third of its residents live in poverty. The median household income, $25,223, is less than half Oklahoma’s $55,557, which in turn is well below the national median of $74,099 in January 2022.

The best-off ethnic group in Antlers is Native Americans (median household income, $35,700; 48% with education beyond high school; 25% living in poverty)

The true test of a civilization may be the answer to a basic question: Can it keep its children alive?

For most of recorded history, the answer everywhere was plainly no. Roughly half of all people—tens of billions of us—died before finishing puberty until about the 1700s, when breakthroughs in medicine and hygiene led to tremendous advances in longevity. In Central Europe, for example, the mortality rate for children fell from roughly 50 percent in 1750 to 0.3 percent in 2020. You will not find more unambiguous evidence of human progress.

ow’s the U.S. doing on the civilization test? When graded on a curve against its peer nations, it is failing. The U.S. mortality rate is much higher, at almost every age, than that of most of Europe, Japan, and Australia.

Phoenix cannot escape the uncomfortable pattern taking shape across the American economy: Despite all its shiny new high-tech businesses, the vast majority of new jobs are in workaday service industries, like health care, hospitality, retail and building services, where pay is mediocre.

automation is changing the nature of work, flushing workers without a college degree out of productive industries, like manufacturing and high-tech services, and into tasks with meager wages and no prospect for advancement.

Automation is splitting the American labor force into two worlds. There is a small island of highly educated professionals making good wages at corporations like Intel or Boeing, which reap hundreds of thousands of dollars in profit per employee. That island sits in the middle of a sea of less educated workers who are stuck at businesses like hotels, restaurants and nursing homes that generate much smaller profits per employee and stay viable primarily by keeping wages low.

The United States devotes a lot more of its economic resources to health care than any other nation, and yet its health care outcomes aren’t better for it.

That hasn’t always been the case. America was in the realm of other countries in per-capita health spending through about 1980. Then it diverged.

It’s the same story with health spending as a fraction of gross domestic product. Likewise, life expectancy. In 1980, the U.S. was right in the middle of the pack of peer nations in life expectancy at birth. But by the mid-2000s, we were at the bottom of the pack.

Eduardo Porter: I read your very interesting column about the universal basic income, the quasi-magical tool to ensure some basic standard of living for everybody when there are no more jobs for people to do. What strikes me about this notion is that it relies on a view of the future that seems to have jelled into a certainty, at least among the technorati on the West Coast

the economic numbers that we see today don’t support this view. If robots were eating our lunch, it would show up as fast productivity growth. But as Robert Gordon points out in his new book, “The Rise and Fall of American Growth,” productivity has slowed sharply. He argues pretty convincingly that future productivity growth will remain fairly modest, much slower than during the burst of American prosperity in mid-20th century.

it relies on an unlikely future. It’s not a future with a lot of crummy work for low pay, but essentially a future with little or no paid work at all.

A prestigious team of medical scientists has projected that by 2030, nearly one in two adults will be obese, and nearly one in four will be severely obese.

In as many as 29 states, the prevalence of obesity will exceed 50 percent, with no state having less than 35 percent of residents who are obese,

in 25 states the prevalence of severe obesity will be higher than one adult in four, and severe obesity will become the most common weight category among women, non-Hispanic black adults and low-income adults nationally.

middle-class neighborhoods do not really exist in Manhattan

“When we got here, I didn’t feel so out of place, I didn’t have this awareness of being middle class,” she said. But in the last 5 or 10 years an array of high-rises brought “uberwealthy” neighbors, she said, the kind of people who discuss winter trips to St. Barts at the dog run, and buy $700 Moncler ski jackets for their children.

Even the local restaurants give Ms. Azeez the sense that she is now living as an economic minority in her own neighborhood. “There’s McDonald’s, Mexican and Nobu,” she said, and nothing in between.

why is Britain doing exactly what it shouldn’t? Unlike the governments of, say, Spain or California, the British government can borrow freely, at historically low interest rates. So why is that government sharply reducing investment and eliminating hundreds of thousands of public-sector jobs, rather than waiting until the economy is stronger

I’ve posed that question to a number of supporters of the government of Prime Minister David Cameron, sometimes in private, sometimes on TV. And all these conversations followed the same arc: They began with a bad metaphor and ended with the revelation of ulterior motives.

The bad metaphor — which you’ve surely heard many times — equates the debt problems of a national economy with the debt problems of an individual family. A family that has run up too much debt, the story goes, must tighten its belt. So if Britain, as a whole, has run up too much debt — which it has, although it’s mostly private rather than public debt — shouldn’t it do the same? What’s wrong with this comparison?

Boston’s struggle with income segregation

In a region known for its searing struggles with racial division, another once-secondary form of segregation — income segregation — has become a defining force.

The surge in affluence in some areas and poverty in others has wiped out scores of mixed-income neighborhoods. In 1970, 7 in 10 families lived in these places. Now it’s just 4 in 10.

There is, however, one group of Americans with whom the Republican contenders and Mrs. Clinton, the likely Democratic front-runner, are generally in step: the wealthy.

more than 80 wealthy Chicago-area residents and found that 62 percent felt “differences in income in America are too large” — a figure generally in line with public opinion.

Only 13 percent of wealthy interview subjects said the government should “reduce the differences in income between people with high incomes and those with low incomes.” Only 17 percent said the government should “redistribute wealth by heavy taxes on the rich.

Applying the same pre-pandemic model to consumer sentiment during and after the pandemic, however, simply does not work. The indicators that correlated with people's feelings about the economy before 2020 no longer seem to matter in the same way

As with so many areas of American life, the pandemic has changed virtually everything about how people think about the economy and the issues that concern them

Prior to the pandemic, our model shows consumers felt better about the economy when the personal savings rate, a measure of how much money households are able to save rather than spend each month, was higher. This makes sense: People feel better when they have money in the bank and are able to save for important purchases like cars and houses.

how do you know what’s actually working when you’re in failed states with very little data-collection capacity? Bill Gates: Of all the statistics in health, death is the easiest, because you can go out and ask people, “Hey, have you had any children who died, did your siblings have any children who died?” People don’t forget that.

you can save a lot of lives. One thing about the childhood death rate is you really can split it into the first 30 days of life versus 30 days to 5 years. Thirty days to 5 years is all vaccine preventable stuff — it’s diarrhea, respiratory and malaria.

BG: I was completely surprised that nobody was funding some of these vaccines. When I first looked at this I thought, well, all the good stuff will have been done. It was mind-blowing me to find things like Rotavirus vaccine were going unfunded. One hundred percent of rich kids were getting it and no poor kids were. So over a quarter million kids a year were dying of Rotavirus-caused diarrhea. You could save those lives for $800 per life. That’s like $20 or $30 per year of life.

Today, the United States has less equality of opportunity than almost any other advanced industrial country. Study after study has exposed the myth that America is a land of opportunity.

The Pew Research Center has found that some 90 percent of Americans believe that the government should do everything it can to ensure equality of opportunity.

the upwardly mobile American is becoming a statistical oddity. According to research from the Brookings Institution, only 58 percent of Americans born into the bottom fifth of income earners move out of that category, and just 6 percent born into the bottom fifth move into the top

analyzed over 450,000 responses to a daily survey of 1,000 randomly selected U.S. residents and found that while life evaluation rose steadily with annual income, the quality of the respondents’ everyday experiences did not improve beyond approximately $75,000 a year.   As the study suggests, emotional well being refers to the emotional quality of an individual’s everyday experience and is assessed by the respondents’ report of the time spent in certain positive and negative emotional states the previous day. Life evaluation refers to a person’s thoughts about his or her life and is measured by respondents’ rating of their lives on a ladder scale of zero to ten.

As income decreased from $75,000, respondents reported decreasing happiness and increasing sadness and stress. The data suggest that the pain of life’s misfortunes, including disease, divorce, and being alone, is exacerbated by poverty.     “We conclude that lack of money brings both emotional misery and low life evaluation; similar results were found for anger,”

“Beyond $75,000 in the contemporary United States, however, higher income is neither the road to experienced happiness nor the road to the relief of unhappiness or stress, although higher income continues to improve individuals’ life evaluations.”   The study does not imply that a financial increase will not improve the quality of life, but suggests that above a certain income level, people’s emotional wellbeing is constrained by other factors, such as temperament and life circumstances.

as the Presidential campaign exposed increasingly toxic divisions in America, Antonio García Martínez, a forty-year-old former Facebook product manager living in San Francisco, bought five wooded acres on an island in the Pacific Northwest and brought in generators, solar panels, and thousands of rounds of ammunition. “When society loses a healthy founding myth, it descends into chaos,” he told me. The author of “Chaos Monkeys,” an acerbic Silicon Valley memoir, García Martínez wanted a refuge that would be far from cities but not entirely isolated. “All these dudes think that one guy alone could somehow withstand the roving mob,” he said. “No, you’re going to need to form a local militia. You just need so many things to actually ride out the apocalypse.” Once he started telling peers in the Bay Area about his “little island project,” they came “out of the woodwork” to describe their own preparations, he said. “I think people who are particularly attuned to the levers by which society actually works understand that we are skating on really thin cultural ice right now.”

In private Facebook groups, wealthy survivalists swap tips on gas masks, bunkers, and locations safe from the effects of climate change. One member, the head of an investment firm, told me, “I keep a helicopter gassed up all the time, and I have an underground bunker with an air-filtration system.” He said that his preparations probably put him at the “extreme” end among his peers. But he added, “A lot of my friends do the guns and the motorcycles and the gold coins. That’s not too rare anymore.”

Tim Chang, a forty-four-year-old managing director at Mayfield Fund, a venture-capital firm, told me, “There’s a bunch of us in the Valley. We meet up and have these financial-hacking dinners and talk about backup plans people are doing. It runs the gamut from a lot of people stocking up on Bitcoin and cryptocurrency, to figuring out how to get second passports if they need it, to having vacation homes in other countries that could be escape havens.” He said, “I’ll be candid: I’m stockpiling now on real estate to generate passive income but also to have havens to go to.” He and his wife, who is in technology, keep a set of bags packed for themselves and their four-year-old daughter. He told me, “I kind of have this terror scenario: ‘Oh, my God, if there is a civil war or a giant earthquake that cleaves off part of California, we want to be ready.’ ”

Earlier this year, women became the majority of the workforce for the first time in U.S. history. Most managers are now women too. And for every two men who get a college degree this year, three women will do the same

Why wouldn’t you choose a girl? That such a statement should be so casually uttered by an old cowboy like Ericsson—or by anyone, for that matter—is monumental. For nearly as long as civilization has existed, patriarchy—enforced through the rights of the firstborn son—has been the organizing principle, with few exceptions

“You have to be concerned about the future of all women,” Roberta Steinbacher, a nun-turned-social-psychologist, said in a 1984 People profile of Ericsson. “There’s no question that there exists a universal preference for sons.”