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.
Average Americans today have essentially zilch influence on public policy. You don’t need to trust your gut on that. Northwestern University political scientist Benjamin Page has the data.
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.
“In the absence of voluntary restraint, the government can use taxation as a way to introduce restraint in executive remuneration. Exorbitant salaries can simply be taxed at exorbitant tax rates to reduce after-tax income to more acceptable levels.”
Jannie Rossouw, head of the school of economic and business sciences at Wits University, South Africa, Investigate executive salaries to close the wage gap, Mail & Guardian, June 19, 2015
Between 2003 and 2012, new IRS stats show, the average federal income tax rate paid by America’s bottom 99 percent rose from 9.64 to 10.38 percent. Over the same span, the tax rate paid by the top 0.001 percent — Americans making over $62 million in 2012 — fell from 20.63 to 17.6 percent.
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.
Top U.S. CEOs sometimes make more in an hour than their workers can make in a year. At Mondragon, one of Spain’s largest companies, no execs can make more in an hour than their workers make in a day.