NO radical changes to fight inequality, says Obama's Economist ....
Last edited Wed May 7, 2014, 08:22 PM - Edit history (3)
Obama’s Top Economist Has Some Problems With Piketty’s BookThe French economist Thomas Piketty’s book on the future of inequality is the buzz of the economics world this season. Now President Obama’s chief economist has weighed in on its thesis, the first time a senior administration official has discussed it in detail. And he is skeptical of some key assumptions upon which “Capital in the Twenty-First Century,” Mr. Piketty’s sweeping book, is based.
Jason Furman, the chairman of the Council of Economic Advisers, grappled with Mr. Piketty’s book in a speech on the global economy in Ireland on Wednesday.
Mr. Furman starts with a relatively straightforward description of Mr. Piketty’s arguments and the rise in inequality in the United States over recent decades, trying to peel apart how much of that broad story — greater inequality in income and wealth than in the past — is attributable to changes in how people are paid for their labors and how much to a shift in returns and ownership of capital.
There has been an increase in inequality within labor income, Mr. Furman argues. At the top end, superstars in fields like finance and sports are paid more than ever, both in absolute terms and relative to typical workers. Meanwhile, wages have been depressed at the middle and lower income brackets by such factors as technological change, a decline in unionization and a decline in the inflation-adjusted minimum wage.
http://www.nytimes.com/2014/05/09/upshot/obamas-top-economist-has-some-problems-with-pikettys-book.html?partner=rss&emc=rss&smid=tw-upshot&_r=0
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Translates to still no new taxes on the 1%ers and to all you who think Obama is Robin Hood, dream on ...
= new reply since forum marked as read
to move out ....
So you are saying that Obama's economist said that he would tax the 1%ers ...
I guess you read a different article .... ?
Looks like it could still use some improvement.
inequality problem. In fact it looks like he is, at best doing nothing, at worst, working to make it worse e.g., the TPP.
Tighten your belts, the Blue Dog/Republican coalition work for the oligarchs.
Is not the same as new taxes which are called for in the book, "Capital"
nice try ...
That is exactly what I read ... 
"In addressing his recommended policies for fighting global inequality, Mr. Furman mentions longstanding priorities of the Obama administration, such as expanding access to preschool, striking international trade deals and raising the minimum wage.
There is no sign he is embracing the more radical solutions for rising inequality that Mr. Piketty recommends, such as drastically higher taxes on income in the highest brackets or a global 2 percent tax on wealth. For now, wrestling with the ideas contained in “Capital,” rather than the policy proposals, is the best that Piketty fans are going to get from the Obama administration."
Look there are more poor people so there is less inequality ... 
I think the title would be more accurate if it read, "Jason Furman doesnt see Obama making any radical changes to fight inequality."
He did say,
Which is unfortunate because, unlike Furman, I dont think that the growing gap of inequality will reverse itself without radical solutions.
He also said,
IMO this is way inadequate to reverse the widening inequality gap. And I would like someone to explain to me how "international trade deals" will reverse the inequality gap.
are desperately holding on to their dream of Camelot.
In fact, the huge and growing gulf started with enacting NAFTA and the others.
quote?
some real reforms and stand up for the middle class when she wins the presidential election in 2016! 
"superstars"??
