The United States should aim to fix its income inequality problem by improving education for disadvantaged students and raising taxes on the wealthy, according to a new report from a consortium of developed countries.
The report pointed out that the U.S. has among the highest income inequality and relative poverty among the 34 countries that make up the Organization for Economic Cooperation and Development.
"The US education system is less effective than those of other countries in helping children realize their potential," the report said. "The United States is one of only three OECD countries that on average spend less on students from disadvantaged backgrounds than on other students."
Income inequality can be bad for health, education, innovation and economic well being, the report noted, citing experts' studies.