This superb six-minute video builds on pioneering research about American attitudes toward wealth by economists Michael Norton and Dan Ariely. Most Americans, the research shows, would like to see wealth in the United States much more equally distributed than they believe it is. But most Americans underestimate how staggeringly unequal the United States has become.
Sam Pizzigati, the editor of the Institute for Policy Studies inequality weekly Too Much takes viewers on a historical tour of the nation’s capital as he discusses his new book, The Rich Don’t Always Win: The Forgotten Triumph Over Plutocracy That Created the American Middle Class, 1900-1970 (Seven Stories Press).
The U.S. Senate Budget Committee February 9, 2012 hearing on “Assessing Inequality, Mobility, and Opportunity” featured testimony from Institute for Policy Studies analyst Sarah Anderson. In her remarks, Anderson showcased how excessive corporate executive pay has turbocharged the gap between America ultra wealthy and everyone else.
Some of America’s most flush corporations are demanding a tax holiday on their profits sitting offshore. In 2004, 58 corporations that benefited from a holiday slashed a total of nearly 600,000 jobs through layoffs while they collectively saved $64 billion from what they otherwise would have owed in taxes.
But we’re not broke. Not even close. The United States of America is awash in wealth. Our corporations are holding record trillions in cash. And overall individual wealth in the United States, the Credit Suisse Research Institute reported this past fall, has risen 23 percent since the year 2000, to $236,213 per American adult. Video [...]