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Shared Responsibility, Shared RiskGovernment, Markets and Social Policy in the Twenty-First Century$
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Jacob Hacker and Ann O'Leary

Print publication date: 2012

Print ISBN-13: 9780199781911

Published to Oxford Scholarship Online: February 2015

DOI: 10.1093/acprof:osobl/9780199781911.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 08 December 2021

Public Policy Options to Build Wealth for America’s Middle Class

Public Policy Options to Build Wealth for America’s Middle Class

(p.123) 7 Public Policy Options to Build Wealth for America’s Middle Class
Shared Responsibility, Shared Risk

Christian E. Weller

Amy Helburn

Oxford University Press

This chapter examines public policy options to build wealth for America's middle class, such as increasing savings rates, minimizing individual risk exposure, and lowering the costs of building wealth. It first provides a historical overview of wealth building in the United States before turning to a discussion of three salient characteristics associated with recent patterns of wealth-holding: little savings, inequality, and concentration in risky assets. It then considers wealth-building measures that the government may implement, such as turning tax deductions for personal savings into refundable tax credits, streamlining tax incentives for savings, increasing the transparency of financial markets, offering incentives for more financial market competition, and offering directly supported loans.

Keywords:   public policy, wealth, middle class, savings, wealth building, risky assets, tax deductions, tax credits, tax incentives, financial markets

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