Rising levels of wealth and income inequality have become the subject of vigorous debate in the United States. How dramatic has the trend toward greater inequality been, and has it been accompanied by the erosion of the progressive taxation the US employed for most of the 20th century?

In a discussion hosted by Chicago Booth’s Stigler Center for the Study of the Economy and the State and moderated by Chicago Booth’s Luigi Zingales, University of California at Berkeley’s Emmanuel Saez and Chicago Booth’s Steve Kaplan debate how US inequality has expanded and how that expansion, together with changes in tax policy, has affected the fortunes of people at various income levels.

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