Experts have suggested that income inequality in the United States is the greatest it has been in a century — a problem the Biden administration has expressed an intention to tackle. While there are no easy fixes, the government plans to focus on several tactics: a $1.9 trillion relief package, taxing the wealthiest Americans and investing in education.
Nicholas Sargen, a lecturer at the University of Virginia Darden School of Business and economic consultant, offered his thoughts on focusing on the neediest, what won’t serve to alter income disparity and making the economy more knowledge-based. Read more in his op-ed for The Hill.
“The proposal deserves to be debated in the public arena. While politicians typically focus on issues that affect the outcomes of elections, the policies that will have the greatest influence on the economy’s long-term potential take years to play out. Improving the quality of education so American workers can compete in a global marketplace that is subject to rapid technological change should be a top priority.”