In a preview of an interview set to be published on Vox’s website in its entirety on Monday, President Barack Obama discussed so-called income inequality with Vox editor Ezra Klein.
According to Obama, there is a need to invest in the “common good,” which when asked by Klein is at a time “redistribution” is a positive good and taxes are not high or progressive.
Partial transcript as follows:
OBAMA: Some people who just control enormous amounts of wealth, we don’t resent their success. On the other hand, just as a practical matter, you’re going to have problems making sure we’re investing enough in the common good to be able to move forward.
KLEIN: Does this put us in a place long-term where redistribution becomes in a sense a positive good in and of itself?
OBAMA: That’s always been the case. I don’t think that’s entirely new. I mean, the fact of the matter is relative to our post-war history taxes now are not particularly high or particularly progressive compared to what they were in the late 50s or 60s.
(h/t RCP Video)
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