A new report from the Congressional Budget Office says that the country’s wealth gap continues to grow, with the richest 1 percent’s income larger than ever. The richest of the rich have seen their income nearly triple since 1980. But Americans appear to be getting fed up. After growing up in a society that took steady but stable income growth as a given, a New York Times/CBS News poll shows that two-thirds of Americans feel wealth should be more evenly distributed and that millionaires should be taxed more. Kathryn Wylde, president and CEO of the Partnership for New York City and deputy chair of the New York Federal Reserves’ Board of Directors, and Timothy Noah, senior editor at The New Republic, discuss how the U.S. ended up in this predicament, and what can be done to fix it.
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