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Wealth redistribution

Wealth Concentration Engine: Rethinking America’s Financial Plumbing

January 28, 2026 Ellen Brown, Scheer Post. , , ,
A Jan. 17 article on Quartz Markets by Catherine Baab reports that JPMorgan Chase, Goldman Sachs, Wells Fargo, Citigroup and Bank of America returned nearly all of their 2025 profits to shareholders. Goldman Sachs returned $16.78 billion on $17.18 billion in earnings, meaning 97.7% of its earnings went to shareholders. Wells Fargo, Citigroup, JPMorgan, and Bank of America collectively returned tens of billions more. Across the six largest banks, roughly $100 billion flowed to shareholders in a single year. Banks enjoy a long list of public privileges — federally guaranteed deposits, public charters allowing them to create deposits on their books as loans, access to the Fed’s discount window for emergency credit, and federal bailouts when they get into serious trouble.

Imagine A Central Income Distribution Institution

November 23, 2023 Matt Bruenig, People's Policy Project. , , ,
Many years ago, I learned that the Faroe Islands has a peculiar process for compensating workers. There, employers pay each worker’s entire paycheck to the tax authority, which removes any taxes owed and then remits the remainder to each worker’s linked bank account. As part of this process, the tax authority also rolls in any welfare payments an individual is owed when making its periodic payments. Beyond these practical advantages, the idea of a central income distribution institution (CIDI) — i.e. a government entity that all income payments are routed through, even factor income payments like wages, dividends, and interest — is useful for thinking through certain intractable philosophical, accounting, and conceptual debates that frequently pop up in the economic policy discourse.

Lee Camp: It’s Time For Major Wealth Redistribution

February 25, 2021 Lee Camp, ScheerPost.com. , , ,
It’s time for wealth redistribution. There, I said it.  I know it’s the third rail of politics, but I’m not running for a damn thing, which makes me free to speak the truth. (Well, I am running for president of my neighborhood elementary school’s PTA, but I’m pretty sure I’ll win easily since my campaign slogan is “Extend the school day to 20 hours because we don’t want to deal with those little monsters. You take ‘em!” . . . Well, I’ll win as long as they don’t find out I don’t have a child.) Anyway, we desperately need wealth redistribution. And before anyone starts yelling something about Joseph Stalin, here’s the part that’s going to blow your mind — in the United States we’ve already had wealth redistribution for decades.
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