We have the tools to address inequality through fiscal policy from "summary" of The Deficit Myth by Stephanie Kelton
It is important to recognize that fiscal policy is a powerful tool that can be utilized to address inequality within our society. By understanding the role that government spending and taxation play in shaping the distribution of wealth and income, we can begin to implement policies that promote greater economic equality.
One of the key ways in which fiscal policy can be used to address inequality is through targeted government spending. By investing in programs that provide assistance to those in need, such as healthcare, education, and housing, we can help to lift people out of poverty and create a more level playing field. This type of spending not only benefits those who are directly impacted but can also have broader positive effects on the economy as a whole.
In addition to targeted spending, the tax code can also be used as a tool to address inequality. By implementing progressive taxation policies that require those with higher incomes to pay a greater share of their earnings in taxes, we can ensure that the burden of financing government programs is distributed more fairly. This can help to reduce the income gap between the wealthiest individuals and the rest of society, creating a more equitable distribution of resources.
It is also important to consider the impact that fiscal policy decisions can have on different segments of the population. For example, policies that prioritize the interests of the wealthy and powerful can exacerbate existing inequalities, while those that are designed to benefit the most vulnerable members of society can help to level the playing field. By taking a more holistic approach to fiscal policy, we can work to create a more just and equitable society for all.
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