Issac Bailey blog | Obama’s policies have redistributed wealth – and reduced inequality (the rich remain rich)
07/23/2014 12:25 PM
07/23/2014 12:26 PM
My biggest criticism of the Obama administration has been that it hasn't done enough to reduce inequality, particularly with its inept attempt to help struggling homeowners during the Great Recession. A new analysis out today says my criticism may have been off-base, or too-narrowly defined.
It found that Obama policies have begun to make a dent in inequality by primarily boosting the fortunes of the poor through the tax code, and will continue to in the years to come, especially because of the Affordable Care Act. I knew the stimulus helped keep an estimated 6 million Americans from falling into poverty, but I did not connect the dots this study does.
I still think there should have been more prosecutions of executives and that the distressed homeowner program was not nearly good enough, among other things. But this study suggests we all should look at the bigger picture.
For more about the study, go here.
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