“Tax the rich” policies being weighed in some statehouses to cover Covid-era budget shortfalls may make more sense in the current economy.
Inequality has been a hallmark of the pandemic recovery, marked by job loss for those at the bottom and soaring wealth for those at the top.
This so-called “K shaped” recovery means the richest Americans are in a better position to absorb higher taxes relative to low and middle earners, according to some economists.
