Riffing off of an important new study from EPI, over at the NYT Economix blog.
BTW, there’s one thing I wanted to add here, as the NYT piece was already getting too long. This is a key point of the piece:
…when it comes to economic policy, the difference in recent years between Democrats and Republicans, or most liberals versus conservatives, is that the former are willing to alter the secondary distribution through more progressive taxes and transfers. The latter are content to leave market outcomes alone.
But neither wants to alter the primary distribution.
There are, of course, exceptions. President Obama’s support for a higher minimum wage and for policies to support manufacturing are two examples of targeting the primary distribution.