How to Make America More Equal – IMF F&D

The COVID-19 pandemic is shining an unforgiving spotlight on the many inequalities in the United States, demonstrating how pervasive they are and that they put the nation at risk for other systemic shocks. To stop the spread of the virus and emerge from a crushing recession, these fundamental inequalities must be addressed. Otherwise not only is a slow economic recovery more than likely, but the odds grow that the next shock—health or otherwise—will again throw millions out of work and subject their families to fear, hunger, and lasting economic scars. Before the pandemic, the United States was in the midst of a decade-long recovery from the Great Recession, which began in December 2007. But not all Americans experienced that recovery in the same way. The top 1 percent emerged as strong as ever in terms of wealth, regaining what they had lost by 2012. As of March 2020, however, US working- and middle-class families had barely recovered their lost wealth, and many families, especially t

The COVID-19 pandemic is shining an unforgiving spotlight on the many inequalities in the United States, demonstrating how pervasive they are and that they put the nation at risk for other systemic shocks. To stop the spread of the virus and emerge from a crushing recession, these fundamental inequalities must be addressed. Otherwise not only is a slow economic recovery more than likely, but the odds grow that the next shock—health or otherwise—will again throw millions out of work and subject their families to fear, hunger, and lasting economic scars. Before the pandemic, the United States wa