What makes a society a fun place to be? Nice weather and exciting night-life options certainly help. But so, suggests a leading World Bank economist, does avoiding a starkly skewed distribution of income. In his new global index of “funness,” he lists inequality as a key limiting factor.
In plain yet powerful language, Pope Francis is challenging the givens of our deeply unequal world — and helping inspire resistance to it. His new “apostolic exhortation” offers a wide-ranging critique of our unequal status quo that draws from multiple sources.
In the United States today, thanks to glaring tax loopholes, even modestly competent tax attorneys can help their wealthy clients sidestep the federal estate tax almost entirely. If we don’t plug these loopholes soon, some observers feel, we may as well not even bother.
America’s corporate CEOs feel entitled to pensions that pay out $86,000 monthly. To protect their entitlement, they’re attacking ours: Social Security. But a new report neatly exposes the monumental hypocrisy of their legislative assault on America’s only remaining retirement bedrock.
Young activists in Switzerland have plutocrats hyperventilating — and spending a fortune to beat back a November 24 national ballot initiative that would establish a landmark legal limit on the pay gap between top corporate executives and their lowest-paid workers.
Americans are gaining, ever so slowly, a more accurate picture of just how wide the gap has stretched between the nation’s most fabulously privileged and everyone else. New data from Social Security statisticians are helping fill in the holes. But a full picture remains elusive.
People who cut food stamp benefits — and gut child labor laws — most all had empathy when they came into the world. So what squeezed the empathy out? At the Economic Policy Institute and elsewhere, analysts and researchers are pointing to inequality.
America’s top execs don’t have the time to celebrate. They’re too busy waging a corporate holy war against what may be the most promising check yet on executive pay excess, a Dodd-Frank Act provision that mandates the disclosure of the pay gap between CEOs and workers.
A tiny tax on global personal wealth over $1 million could ensure that no child anywhere has to live in extreme poverty. That’s the takeaway suggested by the data in new reports on wealth and income distribution from the Credit Suisse Research Institute and the World Bank.
If the Supreme Court chooses to erase our remaining post-Watergate campaign finance reforms, Richard Nixon’s scandalous reign may come to seem mere kid’s play. The reason? Today’s wealthy have far more wealth available to plow into politics than the rich of Nixon’s time.