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?
We obsess over health care in the United States, because we all want to be healthy. In the process, new evidence suggests, we’re ignoring the social dynamics that actually determine our health.
Great economic cataclysms have in the past knocked the super rich off their stride. Our Great Recession’s deep pockets, new income data show, are bucking the historical tide.
If a blunder you committed cost your employer $4 million, how long would you stay employed? In America today, a CEO can cost his company $4 billion and still collect both a paycheck and a bonus.
The new Obama budget for 2013 advances a vision for a significantly more progressive tax code. But that vision, if realized, would still not restore all the tax progressivity lost since the early 1980s.
Lawmakers make laws. They don’t enforce them. Corporate America understands that difference — and exploits it. The latest case in point: the battle over outrageous CEO pay.
Psychologists have been tracking the phenomenon of “biased self-perception” for years now. But new research suggests that they’ve been blaming the wrong social culprit. Levels of economic inequality, not core culture, seems to be driving how we project ourselves to others.
Any resemblance between democracy and U.S. Presidential politics has become, in our new super PAC era, purely coincidental. The only mystery: Why aren’t billionaires making even bigger bets?
President Obama has proposed a specific new minimum tax rate for millionaires. Should America’s rich feel angry or relieved? We check the IRS tax data archives for an answer.
The rich don’t much like paying taxes when tax rates run high. They don’t much like paying taxes when tax rates run low either.
Today’s swaggering rich are increasingly stuffing their dollars into investments that do America’s 99 percent not one whit of good.
Wall Street’s power suits aren’t humming along, this December, with all the holiday jingles. Bankers, traders, and law firm partners are quite frankly feeling kind of foul. End-of-year Wall Street bonuses, experts predict, are going to be down from 2010 levels — by as much, on average, as 35 percent. Total 2011 pay for the […]
Today’s super rich can’t turn tin into gold. But they can get Uncle Sam to loan them free money. At the expense, of course, of America’s bottom 99 percent.
A conservative U.S. senator has released a new study on federal giveaways to America’s rich. Our plutocrats won’t like it. But the indictment misses the biggest handout of them all.
Not the 99 percent. We’ve let the cheerleaders for the richest among us get away with myths about mobility for much, much too long.
Students of modest means must pay a stiff price to build their capacity to contribute to society — and pay interest if they can’t afford that price. A wealth tax could apply this same principle to America’s rich.
One luxury automaker is betting big that America’s affluent feel no responsibility to the greater society crumbling all around them.
Pundits and pols love to blast windfalls that go to corporate CEOs who ‘fail.’ But windfalls for CEOs who ‘perform,’ researchers suggest, ought to worry us far more.
The Census won’t count it. The IRS won’t tax it, at anywhere near full freight. What is it?
“Plutocracy” first burst big-time into our national political consciousness in the late 19th century, and the concept still conjures up today, well over a century later, much the same images as way back then. We envision, at any mention of “plutocrat,” some Wall Street banker, his pockets overflowing with greenbacks, or a robber baron industrialist, […]
Forty years ago, U.S. corporate honchos saw their power ebbing away — to a ragtag mob of long-hairs and loony social reformers. So they did what corporate honchos always do. They asked for a memo.
Warren Buffett last week made an insightful case for higher taxes on America’s rich. The reaction to that case, from our wealthy’s most ardent defenders, offers insights, too — on our plutocracy.
What made last week’s rioting in London all the more ‘achingly sad’? The rioters weren’t challenging greed. They were celebrating it. We really need to understand why.
The American political system isn’t working for average Americans any more. Don’t blame the Tea Party, new political science research suggests. Blame inequality.
At times of national fiscal crisis, President Franklin Roosevelt ever so firmly believed, you don’t give the awesomely affluent a free pass. You pound them — and then you pound some more.
Corporate America, advises one of the nation’s most prestigious management consulting companies, needs to wake up and stop rewarding employee loyalty and performance. With one exception.
The global media spotlight may be gone, but Egypt’s revolutionaries are still making history, with a spirited campaign for a ‘maximum wage.’
‘Asset bubbles’ have been roiling our economy ever since America’s wealthy started supersizing three decades ago. But another bubble, this one enveloping those wealthy, may be just as essential to understand.
Amid fierce fiscal austerity, a borough in London is doing battle to level up the poor and level down the rich. Imagine if a borough in New York tried something as ambitious to tackle the rich-poor gap.
One of the three ‘serious’ candidates for the 2012 Republican White House bid says the tax cuts for the rich he’s proposing will expand America’s ‘entrepreneurial’ class. What does history say?
Federal agencies are now preparing new regulations for enforcing the banker pay reforms enacted last summer. These new regs, says the AFL-CIO, need to prohibit the ‘incentive’ that’s still stuffing bankers with billions.
Back in the mid 20th century, colleges and universities helped America beat down economic inequality. Now they reinforce it.