<?xml version="1.0" encoding="UTF-8" standalone="yes"?><oembed><version><![CDATA[1.0]]></version><provider_name><![CDATA[The Dish]]></provider_name><provider_url><![CDATA[http://dish.andrewsullivan.com]]></provider_url><author_name><![CDATA[Andrew Sullivan]]></author_name><author_url><![CDATA[https://dish.andrewsullivan.com/author/sullydish/]]></author_url><title><![CDATA[Yglesias Award Nominee]]></title><type><![CDATA[link]]></type><html><![CDATA["[C]onservative wonks should care about massively disproportionate income gains. It’s (tautologically) true that putting money in the hands of job-creators create jobs. But is a 275-percent gain in income for the top one percent of households required to create that 40 percent gain in income for the middle classes? Is all that accumulated cash likely to be reinvested, or tucked away? Are there free-market-based policies that help channel gains to middle class investors and would-be entrepreneurs, e.g. to those who are most likely to put the marginal dollar to good economic use? ... <a href="http://pages.stern.nyu.edu/%7Etphilipp/papers/pr_rev15.pdf">This paper</a> from 2009 sticks with me.]]></html></oembed>