New research explores how privilege can turn the privileged self-centered and worse.
The ‘market’ isn’t working for working people. The rich have rigged the rules. We ought to keep trying, of course, to reduce the resulting inequality. But why not, unions are asking, end the rule rigging?
Back in 1776, public-spirited patriots emerged from the ranks of colonial America’s privileged. But our corporate elite today seems to offer up only thieving, tax-dodging parasites. Why such a contrast?
House Republicans, with help from some Wall Street-friendly Democrats, are rushing to repeal the most promising Dodd-Frank Act check on excessive executive pay. Their rationale? Expecting corporations to calculate how much they pay their most typical workers would impose a burden too heavy for corporations to bear.
Let’s place private corporations with government contracts under surveillance — to make sure no one is getting rich off our tax dollars.
For the grasping managers of Corporate America — and the institutions their wealth dominates — no workers deserve dignity, not even the most amazingly accomplished.
America’s deepest pockets, a new Congressional Budget Office report shows, are saving big bucks from the U.S. tax code’s wide assortment of income tax breaks. They’re saving even more, other studies help show, from the absence of an annual wealth tax.
High-profile federal prosecutions of hedge fund execs like SAC Capital’s Steven Cohen only hint at the crime and ethical misbehavior rampant in America’s most rewarding high-finance suites, concludes an eye-opening new analysis from a veteran labor educator.
If President Obama played basketball with the king of Bhutan, would the world have a better shot at becoming a happier place?
Looking for a quick fix to inequality? Stop your searching. We need to strategize instead for the long-term. A riveting new work helps us see how.
The lesson of the Reinhart-Rogoff affair: If we let wealth continue to concentrate — and corrupt our societies — we’ll all end up crying ‘96 tears.’
A colossal gift from a fabulously rich patron of the arts has the museum world buzzing. But hold the hosannahs. The rich aren’t saving us.
Luxury fortresses. Armored cars. Helicopter commutes. The abominably unequal ‘good life’ may be closer than you think.
What more vivid symbol of the indignity our contemporary corporate-driven inequality imposes than the Carnival Triumph. Thousands of people adrift, going nowhere in a nightmare of sewage and stench, while a billionaire chief executive sits far away in a courtside seat and cheers.
How do unequal societies solve the problems — like traffic congestion — that make us miserable? They come up with solutions that make life easier for rich people.
How much can a billion dollars buy? The undivided attention of America’s entire political and chattering classes. Case in point: our ongoing national fixation on debt and deficit.
Americans today can take more than inspiration from the struggles against plutocracy that progressives waged years ago. They can take a host of still relevant — and cutting-edge — policy proposals, explains the newly published book, The Rich Don’t Always Win.
Yes, the poor have struggled mightily while our rich have become phenomenally flush. But middle-income American households haven’t been able to jump off the treadmill either.
Take all that post-election commentary about foolish billionaires and wasted millions in political contributions with a grain of salt. Our billionaires don’t have to actually win on Election Day to get their way.
Americans haven’t heard much at all from Joe the Plumber this election cycle. A shame. Without his rants against sharing the wealth, no one’s bothering to debate how desperately America really needs to be sharing. The latest global wealth distribution comparisons from the Credit Suisse Research Institute drive that point home.
Candidates this fall are taking plenty of pokes at the financial industry’s best and brightest. But they could be doing a lot more than poke. They could push to start taxing Wall Street.
Federal regulators have actually been cracking down somewhat lately on financial industry fraud. But the power-suited executives responsible for that fraud are still paying no personal price.
In real life, working hard only takes you so far. Those who go all the way — to grand fortune — typically get a substantial head start. So documents a new analysis of the Forbes 400.
In any society where wealth and income concentrate at the top, the affluent will almost always come to sneer at public services and the men and women who provide them.
Corporate execs and billionaire ideologues are creating — at taxpayer expense — a network of schools where learning takes a back seat.
The United States already sports an exceedingly rich people-friendly tax structure. But America’s rich have far more friendly tax models in mind. Like Singapore.
The movers and shakers of scandal-ridden Wall Street are busy scapegoating a ‘few rotten apples’ — and hoping the rest of us don’t notice they’re still holding billions in ill-gotten gains.
All those official government stats on the maldistribution of wealth in the United States — and the world — vastly understate the actual extent of our contemporary inequality, says a just-released landmark new study on global tax havens.
America’s revolutionary generation, new research documents, lived in a society much more equal than our own. And early Americans prized that equality, an inconvenient reality for conservatives today.
Robin Hood would not be happy if he happened upon our incredibly top-heavy modern world. But the new campaign to levy a tax on speculative trading would most certainly have him smiling.
The Federal Reserve has once again counted up America’s personal wealth — and omitted the nation’s 400 richest from the final tally. But the new figures, even with that omission, show a divide still deepening.
Sugary soft drinks, as Michael Bloomberg reminds us, do our nation no good. But if we really want to narrow our waistbands, we’re going to have to narrow the income gaps that divide us.
A perfectly respectable business panel is urging corporate boards to ditch the ridiculous rationalizations for CEO pay excess and narrow the gargantuan corporate pay gap. Step one: end CEO stock options.
Facebook’s initial public offering last week ‘offered’ the world another double dose of windfalls and greed. But Egypt’s elections this week may bring an IPO of a different sort, the ‘initial public offering’ of an antidote to avarice.
A string of surprising ‘say on pay’ votes has some executive pay critics sensing an impending revolution in corporate boardrooms. But that ‘revolution’ won’t amount to much until CEO pay reformers start factoring worker pay into the corporate compensation equation.
From Manhattan to Monaco, the world’s deepest pockets are fashioning themselves into a new global tribe of footloose affluent souls. The business press has dubbed them the “stateless super rich.” The rest of us get to gawk at their excess — and wind up footing the ultimate bill.
Bits and bytes would be doing a lot more to help make our lives less nasty, brutish, and short if we shared wealth as routinely as bandwidth. From San Francisco, a new lesson in that reality.
A new labor report reinforces the case for more transparency on the gap between what U.S. CEOs take home and what they pay their workers. The SEC is currently dragging its feet on implementing the new law that requires individual corporations to reveal just how wide that gap has become.
Over two years ago, the IRS announced an ambitious new effort to subject the super rich to unprecedentedly intensive audits. How’s that effort working out? Most lawmakers would rather you not ask.
Even rich people sooner or later have to drive over bridges. So why aren’t the wealthy screaming about America’s inadequate — and increasingly unsafe — basic infrastructure?