America’s 400 richest are collecting far more of the nation’s income than they did two generations ago — and paying Uncle Sam far less. To fudge these facts, pals of plutocrats are having to work overtime.
In any society where great stashes of wealth amass at the top, philosopher Elizabeth Anderson reminds us, the wealthy will sooner or later see most of the rest of us as failures.
To really take on grandiosity and greed, a new report from a prestigious CEO pay watchdog suggests, we may need to shove onto the global political stage the notion of a maximum wage.
Corporate movers and shakers are now maneuvering, via global trade negotiations, for the power to erase governmental decisions that complicate their profiteering. Will they get it? Trade union analyst Thea Lee sees reasons they just might not.
The kingpins of Congress have spent years carving tax loopholes that help America’s CEOs fleece the federal treasury. Now these kingpins are pushing a corporate tax ‘reform’ that ignores the loopholes.
“Social spending in the United States is 40 percent lower than it would be if policymakers didn’t disproportionately respond to the rich.”
Sean McElwee, Rise of the imperial plutocracy, Salon, August 31, 2015
The world’s wealthiest are hiding from their national tax collectors as much as $32 trillion, calculates former McKinsey chief economist James Henry, “a sum larger than the entire American economy.”
Too Much editor Sam Pizzigati’s history of the forgotten triumph over America’s original plutocracy that created the American middle class.
This American Library Association “outstanding title” of the year explores the price we pay for massive inequality. Now available for reading online.
Back in the 1930s, a University of Chicago project set out to list western civilization’s greatest books. Only one book by a living author, this one, made the cut.
No 13-digit fortune has yet appeared on the horizon. But if we wait until we get close enough to see one, warns wealth analyst Bob Lord, we may find our plutocracy set eternally in concrete.