I think the answer is pretty simple: if you care that inequality in the United States has risen and that many, many people are being “left behind” then you should be in favor. The pundits, including many prominent economists who are associated with the Democratic Party, and many reactionary economists associated with Republican party and libertarian-y types, will say this is “irresponsible” because the large transfer will be inflationary. The solution to the inflation possibility is very simple: raise taxes on the wealthy and reduce military spending and stop the giveaways to the corporate farm sector to ensure interest rates do not rise dramatically and that the increase in spending by the bottom half of the income distribution is not putting pressure on prices. Maybe while you are at it reform housing regulations (allow fourplexes in every single family zoned neighborhood) so that the bottom half of the income distribution in expensive urban areas is more likely to invest/consume better housing stock.
Blogs I Follow
- Chang-Rae Lee’s On Such a Full Sea is a readable dystopia that really pushes the reader to think hard
- Enjoyed Cynthia Ozick’s story “The Coast of New Zealand” in The New Yorker
- Boneland by Alan Garner
- Encadrement du responsable du centre multimédia de Houndé (CMH) sur les techniques de rédaction des livres pour enfants
- Funny in Farsi by Firoozeh Dumas
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