2017 Inequality Weekly Newsletter Archive

Our indispensable guide to the latest on our unequal world, delivered every Monday to your inbox.

All year, we’ve been tracking the rants of America’s mega-rich, and last week we put it to a vote: who was the most petulant plutocrat of 2017? Thanks to you, we have an answer: Betsy DeVos, the U.S. secretary of education.

Rep. Kristi Noem, a Republican from South Dakota, has been a key player in the orchestrated effort to repeal the federal estate tax. Noem has claimed repeatedly that estate taxes deeply undermined her “average” farm family. But it turns out that Noem may be stretching the truth — beyond recognition — on her family’s estate tax encounter.

Congress cleared another hurdle in their effort to pass a disastrous set of tax cuts for the wealthy. The GOP giveaway isn't just a political or an economic catastrophe. It also speaks to the moral questions Americans must ask of their government. What — and who — do they prioritize? People, or profits?

GOP leaders are trampling over almost all the legislative niceties in a mad rush to pass a tax plan that privileges the already privileged. The key vote on this tax disaster — and disgrace — could come this week. Can we stop this greed grab? In this week’s issue, we go back to 1932 for a little stop-the-rich inspiration.

In this week’s issue, we highlight one group that’s keeping the pressure on corporate lobbyists as the tax debate moves into the Senate. We also look at the just-released — and staggering — new stats in the Swiss bank Credit Suisse’s latest annual Global Wealth Report. The new numbers have a great deal to tell us about inequality in America, none of it good.

Just three people – Jeff Bezos, Bill Gates, and Warren Buffett – now own more wealth than America’s entire poorest 50 percent. The nation’s rich overall, our newly released Institute for Policy Studies Billionaire Bonanza report details, are watching their wealth multiply at speeds nearly beyond belief. Meanwhile, one in five Americans belong to “Underwater Nation.” They have either zero or negative wealth. If any of the GOP tax plans circulating on Capitol Hill ever pass, we can only expect to see our current chasm widen. Lots more on that and the new Billionaire Bonanza in this issue.

A trove of just-released leaked documents is shining some light on the shadowy world of tax avoidance. U.S. lawmakers are considering whether to hand the ultra-wealthy another set of tax cuts, but the Paradise Papers are just another example of what we all know: when it comes to paying taxes, the rich play by their own set of rules.

This week, we take a look at the campaign restaurant workers have launched against a powerful industry lobby to end the two-tiered tipped wage system. And we have more on the grassroots activists working with cities to demand local investment from the wealthy institutions in their neighborhoods. Both fights offer ideas on the path to more equity in our communities.

Weeks after Hurricane Maria, Puerto Rico remains horribly devastated, the vast majority of the island still without power and struggling to rebuild. Among the obstacles Puerto Ricans face: billionaire “vulture funds” profiteering off their pain. Activists with New York Communities for Change are fighting back. In this week’s issue, we have their story.

Growing inequality, this week’s issue reminds us, has become a deep-seated global concern, and overcoming that inequality is clearly going to take nothing less than a global effort. So where do we start? We start with building up understanding and anti-inequality expertise. And that’s just what an exciting new project — the Atlantic Fellows for Social and Economic Equity — is now working to achieve.

In this week’s issue, we interview the new president of the Economic Policy Institute — a key resource in the struggle against inequality — and wonder about the psychological underpinnings that hold inequality in place.

Like many of you, we’ve been glued to the scant coverage of the devastation caused by Hurricane Maria in Puerto Rico and the completely insufficient emergency response. We’re hopeful the island gets the help they so desperately need and the news outlets don’t lose track of this incredibly important story.

One story the media has spared no expense to cover is the rollout of Trump’s tax plan. Check out co-editors Sarah Anderson, Chuck Collins, Josh Hoxie, and Inequality.org contributor Bob Lord in this viral video produced by Bernie Sanders explaining exactly who’ll benefit from the plan (now over a million views!). And don’t miss Chuck sitting down with Bernie for a Facebook Live interview on Tuesday October 3rd at 11:30!

With his hate-filled rhetoric, President Trump has managed to mobilize a new force against racial injustice: professional football players and team owners. As we all know, the racist justice system that has been the focus of the “take a knee” actions is intertwined with the problem of racial economic inequality. To learn more about this economic divide, check out the recent report we released with Prosperity Now, “The Road to Zero Wealth.”

This week, we’re excited to feature a commentary by the monopoly-busters who recently lost their jobs after criticizing Google’s excessive power. We also analyze the health care debate, the coming fight over tax cuts for the wealthy, and an absurd new way for billionaires to waste their money: luxury submarines.

The corporate interests getting rich on America’s current health care mess are already working to scare support off the Universal Medicare for All legislation Senator Bernie Sanders has just introduced with 15 co-sponsors. But Sanders is fighting back with a detailed analysis of tax-the-rich options for financing universal health care that draws upon our previously published Billionaire Bonanza report.

We cover a great deal of ground in this week’s Inequality.org issue, everything from the CEO-worker pay ratio disclosure victory just won in the UK to the absurdity of the runaway paychecks now going to American college football coaches.

The latest annual edition of our Institute for Policy Studies Executive Excess series reveals that profitable, tax-dodging corporations do not create jobs with the tax savings they reap. They lavish even higher pay on their top execs instead. The details and lots more in this week's issue.

In this week’s issue, we sit down with Matt Bruenig, founder of the just-launched People’s Policy Project, a new initiative that’s pushing back against the plutocratic stranglehold on America’s ongoing public policy discourse.

The New York Times has featured a new analysis of the week since the racist riots in Charlottesville that salutes “a surprising group of Americans” for taking “the risk to speak truth to power.” And what “surprising group” did the Times have in mind? America’s corporate CEOs! We take a quite different perspective that takes into account the inequalities that drive horrors like the Charlottesville riots

Pundits are giving credit for last week’s stunning defeat of the kill-Obamacare push to the three Republican senators who opposed the final repeal bill gasp. But the real heroes happen to be the countless activists nationwide who refused to be steamrolled and even put their bodies on the line. Unfortunately, the plutocrats aren’t stopping to lick their wounds. Next up on the Trump White House agenda: a tax cut for the wealthy that can only be described as a monumental cash grab by the ultra rich.

Many of us have at times felt powerless in the face of the Trump era’s relentless inequality-increasing agenda. Not the folks behind Momentum, the grassroots UK initiative that last month shocked the political-insider world. Thanks in great part to the imagination — and dedication — of Momentum’s bottom-up efforts, the Labour Party’s Jeremy Corbyn far exceeded political expectations in the UK parliamentary elections. We have more on Momentum, from two stalwarts of the new group.

Donald Trump Jr. has been dominating the news cycle this past week. But Junior is turning out to be not the only Trump kid with sins on display. And Russia’s oligarchs are getting nearly as much out of our current White House as America’s home-grown variety of magnate. This collusion with Corporate America is enriching our rich and endangering programs and regs that speak to the needs of ordinary Americans. This week we highlight a sampling of this troubling activity.

Who’s doing more globally than the folks at Oxfam to highlight how unequal our world has become? No one comes to our mind. But the folks at Oxfam aren’t resting on their laurels. They’re doing some cutting-edge thinking on what we have to say and do to start making a significant dent on our world’s incredibly concentrated income and wealth.

Most all the early leaders of the American nation shared a commitment, as Connecticut minister Benjamin Trumbull put it, “not to suffer a few persons to amass all the riches and wealth” of their young nation. Nothing would do more to ensure the success of the new American republic, Noah Webster would proclaim after the Revolution, than achieving “a general and tolerably equal distribution of landed property.” On this Fourth of July, we would do well to heed that counsel.

The new Senate health care bill looks every bit like earlier versions out of the House of Representatives: massive tax cuts for the wealthy made possible by massive increases in the ranks of the uninsured. How can so many of our elected leaders have lost all semblance of compassion and empathy? We sat down with a seasoned activist who can help us keep pushing forward in the face of a cruel and painful era. We have his advice — and more — in this week’s issue.