Report: Taxing The Rich Won’t Fix Income Inequality
The Daily Caller reports on Iain Murray and Ryan Young's study on poverty and income inequality.
Policy changes are more effective at closing the income gap than raising taxes on the wealthy, a study released Wednesday by the Competitive Enterprise Institute found.
The living standard for people in the lowest economic levels is more important than the ratio between the top and bottom economic brackets, according to the report.
“For years, experts have focused on the income gap, the difference between rich and poor, but helping people gain access to economic and job opportunities that raise their standard of living is more important,” study co-author and CEI fellow Ryan Young, said in a statement. “Policy reforms that help poor people include access to affordable energy, access to capital for entrepreneurs, ending occupational licensing restrictions, an honest price system, and overhauling a range of regulatory barriers.”
The Washington, D.C.-based think tank said regulatory barriers like occupational licensing, which a third of Americans need to lawfully practice their occupations, are problematic for people trying to move up the economic ladder.
Read the full article at The Daily Caller.