There might be a few legitimate reasons for someone to have a company based out of the British West Indies. Perhaps they happen to be one of the 57,000 people who live there.
Housing and Urban Development Secretary Ben Carson made three grave mistakes on Tuesday with his comments.
First, do we acknowledge that inequality has risen to an extreme level? If yes, is there acknowledgment that this is a big problem, if it is not moderated?
Tax cuts reduce government services which hurt workers more than the wealthy. This is a form of reverse redistribution–gains for the wealthy, net losses for the working class.
Consider what Trump himself said last January: “My whole life I’ve been greedy, greedy, greedy. I’ve grabbed all the money I could get, I’m so greedy.”
This weekend, Patriotic Millionaire Sam Polk is opening the first of hundreds of planned new restaurants that are bringing a whole new model of capitalism to bear on the issue of limited food choices and quality in poorer neighborhoods.
Another powerful force came into play in 2012 that has made a major change in the nation’s knowledge of the poor among us.
Tragically, Ryan has no concept of the depth or extent of poverty in America. He presents ideas that nibble around serious issues, while tens of millions of Americans suffer real time consequences of failed policy.
We hear a lot of talk about pay: how much CEOs earn, how little waiters get, etc. While an important indicator, wages do not fully address the real inequality in our nation.
It impacts how we live and even how long we live. It affects education, the length and depth of poverty in our nation, our ability to rise and make a new life for ourselves. Structural inequality means that public policies are made to benefit a very few instead of the mass of Americans. Despite vaunted myths about our democracy, average Americans have little or no influence on political decisions in the United States.
A stronger middle class means higher spending power, a growing economy, and the creation of jobs. More importantly though, we benefit when we have a middle class that has less stress and more dignity. It’s a value decision that will keep us moving forward as a democracy.
Millions of Utahns will file their taxes this week, but thousands of investment fund managers earning millions of dollars per year will pay at a lower tax rate than teachers, firefighters and most ordinary Americans. A group of Utahns, the Utah Chapter of the Patriotic Millionaires, want this changed and called on Senator Orrin Hatch to close the “carried interest loophole.”
The Patriotic Millionaires consider this film, which is highlighting the dangerous and rapid expansion of the wealth gap, as fundamental to the national conversation about economic inequality.
As global wealth concentrates in fewer hands, the world’s wealthy are shifting trillions to offshore havens to escape taxation, accountability, and publicity.
The tiered raise, which is part of the New York state proposed budget, represents a major victory for wage earners and the New York economy. In time, the nation will follow suit, shortening the economic gap, strengthening the American economy, and granting true sustainable living wages to a valued part of society.
Why are we in fact subsidizing housing for wealthy people? Not only are we subsidizing housing for the wealthy, we’re doing it to the tune of billions of dollars a year. This can’t possibly be a good thing, and we should stop it.
The Institute for Policy Studies report, titled ”Billionaire Bonanza: The Forbes 400 and the Rest of Us”, found that just 20 individuals now own more wealth than the bottom half of the U.S. population, or 152 million people living in 57 million households.
What is happening is that the ultra-wealthy are using their disposable income to buy political influence, then using that influence to get laws passed that allow them to collect rents.
In this new TEDx Talk, Chuck Collins, heir to the Oscar Myer fortune invites the planet’s wealthy to “come home” – not withdraw – and humbly invest in building resilient and healthy communities. He urges his fellow wealthy to join networks like the Patriotic Millionaires to advocate for tax fairness, living wages and a campaign finance system that reduces the influence of big money and politics.
For progressives like myself, the Institute for Policy Studies’ finding that twenty Americans own more wealth than half the population presents a frustrating puzzle.