You may have seen John Oliver use the lottery to demonstrate how income inequality works, but why has it recently become more of a problem? UC Berkeley’s Robert Reich talks about how our recent policies around the estate tax have long term consequences:
We’re on the cusp of the largest inter-generational wealth transfer in history. The “self-made” man or woman, the symbol of American meritocracy, is disappearing. Six of today’s ten wealthiest Americans are heirs to prominent fortunes.