Estate tax changes enacted in 2010 will save U.S. estates worth over $20 million an amazing $3.8 million each in 2011 and 2012.
What ‘meritocracy’? On the nation’s most prestigious campuses, students from affluent families far outnumber students from low- and middle-income households.
For corporate CEOs and wealthy bondholders alike, the more jobless, the merrier.
To bring executive pay back to reasonable levels, a Labour peer in the UK House of Lords suggests, we may need to start considering “some form of maximum wage.”
The ongoing deterioration of America’s quality of life will only end when “our communities stop fighting over the scraps and insist that deadbeat corporations and billionaires start contributing their share.”
Top U.S. exec pay last year rose seven times faster than pay for average American workers.
A former U.S. secretary of labor examines the most fundamental fiscal shift of our time: “Forty years ago, wealthy Americans financed the U.S. government mainly through their tax payments. Today wealthy Americans finance the government mainly by lending it money.”
Britain’s ruling parties need to “rediscover their roots in equality politics.”
A sobering glimpse inside the life of India’s super rich. Let them eat cake, anyone?
The 400 highest-income Americans reaped a stunning 13.1 percent of net capital gains reported to the IRS for 2008.
A vigorous defense of the year-old CEO-worker pay ratio disclosure mandate now under ferocious corporate assault in Congress.
This tale of the princess and the underpaid palace cleaner “reveals the growing gulf between rich and poor,”
The U.S. economy is creating jobs, “but mostly ones that will widen America’s income gap between rich and poor.”
How “pay for performance” really works: If one metric doesn’t show a CEO is “performing,” that CEO will find some other that does.
Britain’s 1,000 richest, amid record public austerity, have now regained nearly all their pre-Great Recession wealth.
The mayor of Columbus, in a blast against a state legislative vote to repeal Ohio’s estate tax, calls it “immoral to cut taxes for the rich while cutting services to ordinary people.”
Top 10 CEOs made $440 million last year, a third more than top 10 made the year before.
Most of the world’s richest nations have “seen their richest citizens get much, much richer” over recent decades, says a new OECD report.
CEO pay excess, charges a top business school dean, creates a climate where “customers become marks to be exploited, employees become disposable cogs.”
The results from new Marist College national public surveying on the federal budget.
Why “hedge-fund titans who backed Democrats” are now opening “their wallets for Republicans.”
How two great civic institutions of Los Angeles were “sold to men so venal, cynical, incompetent, and egomaniacal that they gutted them in just a couple of years.”
A veteran analyst’s valedictory Times op-ed emphasizes that “overwhelming imbalances in wealth and income inevitably result in enormous imbalances of political power.”
A veteran development analyst discusses why we can’t end absolute poverty in the world without challenging wealth’s concentration.
Americans offer a sobering portrait of what our economic divide is doing to us.
A concise explanation of why “massive economic disparity has a corrosive effect on society.”
Kevin Drum, Plutocracy Now: What Wisconsin Is Really About, Mother Jones, March/April 2011. How the concentration of America’s wealth into the pockets of a wealthy few corrodes our economy and democracy.
John Hamilton, Income disparity is what tea partyers should be upset about, Seattle Times, March 9, 2011. A former U.S. ambassador in Latin America has seen “what severe income inequality does to a society” — and fears the United States is repeating Latin America’s historic mistake.
James Galbraith, Testimony, U.S. Senate Finance Committee Principles of Efficient Tax Reform hearing, March 8, 2011. Why we need to shift the tax burden off of labor onto energy and accumulated wealth.
Hendrik Hertzberg, Union Blues, New Yorker, March 7, 2011. If the anti-union blitz in Wisconsin and elsewhere prevails, the nation will lose the only “formidable counterweight to the ever-growing political power” of America’s ultra rich.
Bill Simmons, Greed is good in NFL labor talks, ESPN.com, March 4, 2011. The world’s best pro basketball analyst offers a brilliant take on how the concentration of wealth, at the ownership summit, is ruining pro football.
Frances Russell, Inequality: thy name is revolution, Winnipeg Free Press, March 2, 2011. Why inequality, even for some conservatives, is emerging “as a major social and economic issue.”
Bob Herbert, When Democracy Weakens, New York Times, February 12, 2011. Living where “the wealthy call the tune.”
Frank Cocozzelli, Refuting the Reagan Legacy: Progressive Taxation is the Key to Prosperity, New Deal 2.0, February 7, 2011. A blueprint for reclaiming the narrative about the tax code Ronald Reagan so distorted a generation ago.
Editorial, Myths on Jersey’s income tax, Star-Ledger, November 30, 2010. How the wealthy — and New Jersey’s wealthy governor — obfuscate the “millionaire tax” debate.
Stephen Colbert, Return of the Estate Tax, December 2, 2010. The Comedy Central newscaster goes to bat for a noble minority: children of the obscenely wealthy.
Lew Prince, Tax cuts for rich don’t trickle down, Politico, December 3, 2010. A small business owner blasts giving a tax cut “ to the guys who made billions trashing our economy.”
Bruce Watson, ‘Undercover Boss’ Salaries: When Equality Disappears, Daily Finance, December 4, 2010. TV’s Undercover Boss preaches that not much, in real-life know-how, separates top from bottom on the corporate ladder. So why do bosses make more in a day than workers make in a year?