Washington, D.C.–(ENEWSPF)–December 4, 2013. The Center for American Progress today released a series of reports demonstrating that income inequality does not produce sustained economic growth. In fact, according to the reports, inequality may actually dampen economic growth. Released on the same day as an address by President Barack Obama sponsored by CAP about growing economic inequality and shrinking economic mobility, the CAP-commissioned papers ultimately prove false a core tenant of the trickle-down theory, which erroneously vouches for the necessity of extreme inequality to generate growth.
