The Weeds: Want to fix inequality by taxing the rich? Good luck.

President Obama has described inequality as "the defining challenge of our time."

New research from the Brookings Institution suggests that one of the most prominent policy solutions to inequality — raising taxes on the wealthy — would barely move the needle.

On this episode of The Weeds, Ezra Klein, Matt Yglesias, and I dive into its findings, what they say about inequality, and how it ought to change our thinking about the growing wealth divide between rich and poor Americans.

And with Joe Biden now officially out of the running for the presidency, we also take a moment to understand the Biden theory of governing — and what it would mean to have a Democratic contender who considers Republicans friends rather than enemies.

Listen to this week's episode below, or subscribe on iTunes. And, as always, feel free to reach out with criticism, praise, topic suggestions, or great Joe Biden GIFs to weeds@vox.com.

Show notes

• White paper of the week: Would a significant increase in the top income tax rate substantially alter income inequality?
• Dean Baker's book, The End of Loser Liberalism
• Economist Robert Frank's case for a progressive consumption tax
• Thomas Piketty's book, Capital in the Twenty-First Century
• American Enterprise Institute's defense of payday lending

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