Ruling Class

Claims That Wealth Taxes Slow Economic Growth Are Fundamentally Flawed

November 26, 2019 Josh Bivens, Epi.org Educate! Ruling Class, Taxes

In recent weeks, a number of policy analyses of progressive economic policies—a surtax on high-incomes, a wealth tax, and Social Security expansion—have claimed these policies would damage economic growth. Policymakers should give these analyses very little weight in debates about these issues, for a number of reasons. First, and most important, is the fact that all of these analyses are grounded in an economic view of the world that sees growth as constrained by the economy’s productive capacity (or the supply side of the economy) and not by the spending of households, businesses and government (the economy’s demand side).

Putting The Brakes On Corporate America’s Inequality Engine

November 21, 2019 By Sam Pizzigati, Inequality.org Create! Corporate tax, Inequality, Ruling Class

Why has the United States become so much more unequal over the last four decades? Any number of factors have been driving our increased inequality. But no single factor may have been more significant than the behavior of the modern American corporation. Corporations are contributing to inequality on two fronts. On the one hand, they’re systematically depressing incomes for average Americans, via everything from outsourcing to pension cuts. On the other, they’re just as systematically stuffing the pockets of America’s executive class.

Opinion: Why A Surtax On Multimillionaires’ Income Is Better Than A Wealth Tax

November 18, 2019 Chuck Collins, Marketwatch.com Create! Income, New Economy, Ruling Class, Taxes

Some business leaders may be concerned about some of the tax proposals being floated by Democratic candidates for president. But plenty of them — from JPMorgan Chase JPM, -0.36% CEO Jamie Dimon to Starbucks SBUX, -0.39% founder Howard Schultz — agree that it’s time for wealthy people like them to pay more. “I believe that individuals earning the most can afford to pay more, and I have no problem paying higher taxes to address some of the fundamental challenges and inequities in our society,” the billionaire banker Dimon told Fox Business.

Taxing The Rich Is Only A Start, Though It’s A Good One

November 15, 2019 Doug Henwood, Socialistproject.ca Create! New Economy, Ruling Class, Taxes

It’s become near-consensus on the social democratic left that you can fund a decent welfare state by taxing the rich and shrinking the military. Sad to say that isn’t true. Those are good things in themselves, and you could pay for some excellent things with that agenda, but it would still be well short of actual social democracy. I’m defining social democracy as a large and robust welfare state that socializes a lot of consumption through taxation and spending, compressing the income distribution, reducing poverty sharply, capping the political power of the rich...

Inequality Is Literally Killing Us

October 12, 2019 By Sam Pizzigati, Otherwords.org Educate! Class Struggle, Inequality, Ruling Class

What do the folks at the U.S. Census Bureau do between the census they run every 10 years? All sorts of annual surveys, on everything from housing costs to retail sales. The most depressing of these — at least this century — may be the sampling that looks at the incomes average Americans are earning. The latest Census Bureau income stats, released in mid-September, show that most Americans are running on a treadmill, getting nowhere fast. The nation’s median households pocketed 2.3 percent fewer real dollars in 2018 than they earned in 2000.

400 Richest U.S. Families Paid Lower Tax Rate Than Working Class, Study Finds

October 12, 2019 Mary Papenfuss, Huffpost.com Educate! Inequality, New Economy, Ruling Class, Taxes

For the first time in a century, the nation’s richest billionaires are paying a lower tax rate than working-class Americans, according to an analysis in a forthcoming book. The wealthiest 400 families paid an average effective tax rate of 23% last year ― the second year of President Donald Trump’s new tax law ― while the bottom half of all American households paid an average rate of 24.2%, according to the study. The superwealthy paid a lower rate than any other income group, according to an analysis in the new book “The Triumph of Injustice,” by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley.

The Wealthiest Americans Haven’t Paid Their Fair Share In Decades

October 9, 2019 Ilana Novack, Truthdig.com Educate! Inequality, New Economy, Ruling Class, Taxes

Donald Trump tried to sell America on his 2017 tax bill by calling it a middle class tax cut, and regurgitating Reagan-era talking points about how tax cuts for the wealthy actually benefit everyone. As Heather Long warns in The Washington Post however, while some middle class families got a modest cut in 2018, in 2019, millions of Americans were—or were about to be—“surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service.”

The ‘Forbes 400’ List Is Basically Class Warfare

October 9, 2019 By Opheli Garcia Lawler, Mic.com Educate! Exploitation, Profit, Ruling Class

Could you spend a billion dollars? How about $90 billion? Here, try. It’s actually kind of hard to do if you’re used to living, as most Americans do, paycheck to paycheck. In your head, you’ve probably already started allotting money to issues you care about, problems you’d solve with that kind of money. Maybe you’d Oprah your whole block or build a school. The billionaires on Forbes 400, a list of the 400 richest people in America, they all have at least two billion dollars. In total, they’re all worth “a record-breaking $2.96 trillion,” a sum that could eliminate the American student debt crisis twice...

Tax The Rich Before The Rest

September 27, 2019 Chuck Collins, Postcarbon.org Create! New Economy, Ruling Class, Taxes

Presidential candidates should take a pledge: The middle class should not pay one dollar more in new taxes until the super-rich pay their fair share. Already candidates are outlining ambitious programs to improve health care, combat climate change, and address the opioid crisis — and trying to explain how they’ll pay for it. President Trump, on the other hand, wants to give corporations and the richest 1 percent more tax breaks to keep goosing a lopsided economic boom — even as deficit hawks moan about the exploding national debt and annual deficits topping $1 trillion.

Saving The Planet Means Overthrowing The Ruling Elites

September 24, 2019 By Chris Hedges, Truthdig.com Educate! Class Struggle, Climate Change, Climate Justice, Ruling Class, Social Movements

Friday’s climate strike by students across the globe will have no more impact than the mass mobilizations by women following the election of Donald Trump or the hundreds of thousands of protesters who took to the streets to denounce the Iraq War. This does not mean these protests should not have taken place. They should have. But such demonstrations need to be grounded in the bitter reality that in the corridors of power we do not count. If we lived in a democracy, which we do not, our aspirations, rights and demands, especially the demand that we confront the climate emergency, would have an impact.

Our Invisible Government

September 18, 2019 Chris Hedges, Truthdig.com Educate! Deep State, Nationalism, Ruling Class

There are two forms of government in the United States. There is the visible government—the White House, Congress, the courts, state legislatures and governorships—and the invisible government, or deep state, where anonymous technocrats, intelligence operatives, generals, bankers, corporations and lobbyists manage foreign and domestic policy regardless of which political party holds a majority. The most powerful and important organs in the invisible government are the nation’s bloated and unaccountable intelligence agencies. They are the vanguard of the invisible government.

Tax The Rich Before The Rest

September 5, 2019 By Chuck Collins, Otherwords.org Educate! New Economy, Ruling Class, Taxes

Billionaires Are A Sign Of Economic Failure

August 30, 2019 By Max Lawson, Inequality.org Educate! Inequality, New Economy, Ruling Class

The New York Times published an editorial comment on its front page in January 2019, provocatively entitled “abolish billionaires.” The editorial raised a serious question: what if instead of being a sign of economic success, billionaires are a sign of economic failure? In what ways can the boom in billionaires, and the dramatic increase in extreme wealth generally, be harmful? To answer this question, we need to understand the origins of billionaire wealth, and to understand how that wealth is used once it is gained. The answer to both these questions I think rightly casts doubt on the value of the super-rich in our society.

Ian Haney López: Dividing Races The Main Weapon Of The Rich

August 13, 2019 By Roger Bybee, Inequality.org Strategize! Class Struggle, New Economy, Racism, Ruling Class

Donald Trump’s attacks on black U.S. Representative Elijah Cummings, the Reverend Al Sharpton, and the four progressive Congresswomen of color known as “the Squad” signal how the President, backed by other Republicans, intends to use racial divisiveness to stay in power. “Dividing the races has been the principal weapon of the rich in the class war they are winning,” as University of California-Berkeley law professor Ian Haney López told me in a recent phone interview.

The World’s Wealthiest Family Gets $4 Million Richer Every Hour

August 13, 2019 Staff, Bloomberg.com Educate! Inequality, New Economy, Ruling Class, Wealth

The numbers are mind-boggling: $70,000 per minute, $4 million per hour, $100 million per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since last year’s Bloomberg ranking of the world’s richest families. At that rate, their wealth would’ve expanded about $23,000 since you began reading this. A new Walmart associate in the U.S. would’ve made about 6 cents in that time, on the way to an $11 hourly minimum.

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Daily movement news and resources

Daily movement news and resources

Ruling Class

Claims That Wealth Taxes Slow Economic Growth Are Fundamentally Flawed

Putting The Brakes On Corporate America’s Inequality Engine

Opinion: Why A Surtax On Multimillionaires’ Income Is Better Than A Wealth Tax

Taxing The Rich Is Only A Start, Though It’s A Good One

Inequality Is Literally Killing Us

400 Richest U.S. Families Paid Lower Tax Rate Than Working Class, Study Finds

The Wealthiest Americans Haven’t Paid Their Fair Share In Decades

The ‘Forbes 400’ List Is Basically Class Warfare

Tax The Rich Before The Rest

Our Invisible Government

Tax The Rich Before The Rest

Billionaires Are A Sign Of Economic Failure

Ian Haney López: Dividing Races The Main Weapon Of The Rich

The World’s Wealthiest Family Gets $4 Million Richer Every Hour

Daily Movement News And Resources.

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