Robin Hood would not be happy if he happened upon our incredibly top-heavy modern world. But the new campaign to levy a tax on speculative trading would most likely have him breaking out in smiles.
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All those millions that America's billionaires are pouring into super PACs, where do they come from? We can trace a huge chunk of that political cash to the truly massive tax cuts our richest now enjoy. How massive? Over $25 billion a year -- for our most affluent 400 -- massive enough for you?
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Today's swaggering rich are increasingly stuffing their dollars into investments that do America's 99 percent not one whit of good.
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All sorts of federal agencies publish income inequality data. But only the nonpartisan Congressional Budget Office directly takes on America’s income inequality deniers. Back in 1979, America’s most affluent 1 percent took home — after federal taxes — about the same share of the nation’s income as all the Americans in the bottom 20 percent. [...]
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Here’s the clip of a conversation we had yesterday on The Alonya Show about the new CBO report, which provides even more data on the explosion of wealth at the very top of the scale, the injustices driving Occupy Wall Street, and where we go from here. After Alonya sets up the discussion by providing [...]
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The deficit commission report issued last week is another Saturday night special pressed to the temple of the American middle class. “Turn over your money and your benefits or your country will die,” the report screams at workers. “You want your country to go bankrupt? No? Then you gotta delay retirement, get less from Social [...]
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The 21st century has opened with a decade that has seen the vast majority of Americans go backwards economically. Just-released Census stats tell that tale — but not the whole income story. The U.S. Census Bureau last week closed the book on the first decade of the 21st century. We now know, after Thursday’s release [...]
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Just in: new data on our staggering income gap. Just emerging: a better understanding why such gaps make economic calamities inevitable. Years ago, in the mid 20th century, no one in the United States spent much time talking about rising income inequality, for the simple reason that inequality wasn’t rising. But that all began to [...]
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Jack Cafferty at CNN this week
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In the previous post, I included a quote from Franklin Roosevelt’s Second Inaugural Address. We are determined to make every American citizen the subject of his country’s interest and concern; and we will never regard any faithful law-abiding group within our borders as superfluous. The test of our progress is not whether we add more [...]
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