This year’s fast GDP growth underlines one of the great myths of economic statistics: the myth that growth benefits everyone, or at least most people.
If world’s big corporations prefer to sit on trillions of dollars in order to avoid paying taxes, let them. If they won’t invest, we should.
The corrupting influence of inequality isn’t confined to politics. It is everywhere.
How can things be so much worse now when the economy is essentially in the same place it was five or six years ago? The answer in two words is: Rising inequality.
The economy is growing. The money is there. It’s our democratic choice: corporate profits or public schools.
Real national income has grown in every quarter since July 2009. The problem isn’t a lack of growth. The problem is where that growth is going.
Economists will give you all sorts of answers based on technical factors, but in the end it all comes down to one word: inequality.
The US economy has been growing since July 2009. So why aren’t things improving in the US realonomy?
To keep corporate income taxes low, either we have to keep individual income taxes high or we have to cut back on government services. In other words, it’s corporations versus people. That’s not class warfare. That’s simple arithmetic.