Given Baker's comments, that lower-than-expected wage growth is part of the problem, wouldn't a more progressive tax system combined with a higher minimum wage improve that? Would it cut into job growth, or would it increase baseline consumption and multiply through the economy with higher production and job growth?

I'm a crappy modeler, I'm just a reporter with oily skin. Please help me.

Sir messter,

Better to direct your question to Baker directly if you're working on a piece. (Write if you need his email.)

But if you're just idly curious, let me give it a shot:

Lower-than-expected wage growth (not just last year, but over the past thirty years) is a result of the decline in labor power and an increase in business power. This means the economic pie has been cut differently—more going to investors, less to workers (and more to higher paid workers, actually).

What would change this is the subject of many extremely boring disputes among economists. But certainly nothing will change without greater labor power. That will improve the situation for normal people much more than anything else, including any changes to Social Security. For much much much much more on this, I recommend The State of Working America