Income Redistribution No ‘Silver Bullet’ for Inequality, UN Says
A man sits under an umbrella in the rain on Wall Street in New York.
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Inequality has spread through so many areas of life that tilting tax systems in favor of the less well-off won’t be enough to address the gap, a new UN report said.
While a full redistributive package that includes more progressive income taxes and earned income discounts at low income levels would be a positive step, it wouldn’t be enough, according to the 2019 Human Development Report published Monday. A new generation of inequalities is opening up around issues like education, technology and climate change, prompting concerns of a “great divergence,” the report said.