One Dollar. One Vote. [Emmanuel Saez]

The video discusses the differences between income and wealth, highlighting how wealth is more unequally distributed. Emanuel Saez, an economics professor, explains the role of taxes in addressing inequality and funding public goods. The US tax system's progressivity has declined since the 1980s, with arguments for reducing taxes on the rich focusing on incentives for innovation. However, this has led to increased wealth concentration and political influence. Historically, progressive taxation has been key in reducing inequality. Despite globalization, taxing the rich remains feasible.

What does the speaker suggest about the relationship between wealth and political power?

According to the speaker, what historical factor contributed to reducing income and wealth concentration?