Usually wealth inequality falls during a recession as overleveraged buyers of financial assets become forced sellers. After a cool $12.3 trillion of monetary and fiscal steroids, the 1% continued gaining ground on the rest of society. I think Biden is just trying to reallocate that wealth with this new tax structure.

 

Usually wealth inequality falls during a recession as overleveraged buyers of financial assets become forced sellers.

 

After a cool $12.3 trillion of monetary and fiscal steroids, the 1% continued gaining ground on the rest of society.  

 

I think Biden is just trying to reallocate that wealth with this new tax structure.