“In essence, the last year of the Obama era was a modest battle victory in a long-term losing war against inequality. And when you gaze into the future, it is hard to imagine that the Trump era will bring as much good news. Trump and Congressional Republicans plan to pursue tax policies that will exacerbate, not ameliorate, inequality. They are also far more hostile to minimum wage increases. And while their deregulation plans could give corporate earnings a boost, they also make our economy riskier and more prone to another crisis, which would hurt the poor most of all. “
The good news: our relatively strong economy helped to raise wages for everyone in 2016. The bad news: this is a mere blip in the context of overall inequality. And it’s likely to get worse.
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