What America Needs to Understand About Capitalism

July 13, 2019 by Project Syndicate by Clair Brown, Simon Sällström The United States has the resources to create a better capitalist system, and it is clear which policies can improve wellbeing today and create a more equitable and sustainable economy for future generations. Now the country needs to elect a president and Congress that can build this system. Our research …

Closing loopholes and raising taxes on the ultra-wealthy few, starting with estates worth more than $3.5 million and rising to a 77% tax on inherited wealth over $1 billion

Just three white men ‒ Jeff Bezos of Amazon, investor Warren Buffett and Microsoft’s Bill Gates ‒ own as much wealth as the whole bottom half of America. An astonishing $2.9 trillion is in the hands of just 400 people. The top 1%, meanwhile, control 40% of the wealth in our country.2,3 This unequal wealth hoarding starves public services and …

‘Toxic Stew’ Stirred Up by Disasters Poses Long-Term Danger, New Findings Show

By Christopher Flavelle, on July 15, 2019, NYTimes.com WASHINGTON — New research shows that the extreme weather and fires of recent years, similar to the flooding that has struck Louisiana and the Midwest, may be making Americans sick in ways researchers are only beginning to understand. By knocking chemicals loose from soil, homes, industrial-waste sites or other sources, and spreading them …

Economic Policy Institute

Any serious policy agenda geared towards combating inequality and raising living standards for the vast majority must look to ultra-high earners in the top 0.1 percent, who wield disproportionate economic and political power. The Economic Policy Institute and the Institute for Policy Studies held a day-long conference on Taxing the (Very) Rich with tax policy experts, activists, advocates, organizers, and …

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. The real failure is in how our economy is organized.

There are basically only four ways to accumulate a billion dollars – and none of them is a product of so-called free market capitalism. Billionaires themselves aren’t the problem. The real failure is in how our economy is organized. The way to fix it is getting rid of monopolies, stopping the use of insider information, preventing the rich from buying …

Once every 12 minutes. 47,173 Americans killed themselves in 2017, nearly 7x greater than the number of American soldiers killed in the Afghanistan and Iraq wars between 2001 and 2018.

Suicides now claim two-and-a-half times as many lives in this country as do homicides, even though the murder rate gets so much more attention. According to a 2018 Centers for Disease Control study, between 1999 and 2016, the suicide rate increased in every state in the union except Nevada, which already had a remarkably high rate.  In 30 states, it jumped by …

25% of Americans “worse off” than before the Great Recession

By Mac Slavo, Shtfplan.comJune 21, 2019 | EDUCATE! For many, the economic recovery being touted by the mainstream media has not yet affected them. About 25% of Americans say that a decade after the housing bust that caused the Great Recession, they are doing worse. Almost half of Americans are not doing any better at all too. If you believe the mainstream media, …

Ending Special Tax Treatment for the Very Wealthy

By Alexandra Thornton and Galen Hendricks, Center for American Progress, June 4, 2019 Getty/Nicholas Pfosi A massive yacht with a helicopter and helipad is pictured in Boston Harbor, July 2017. OVERVIEWThe U.S. tax system has played a significant role in the growth of economic inequality by failing to tax those with extreme wealth—but there are ways to rebalance the tax code and put …

Offshore tax havens are enabling world’s richest 0.01 percent to evade 25 percent of the income taxes they ought to be paying. Holdings of the wealthiest one-hundredth of 1 percent make up 50% of assets in tax havens

Excerpt, June 2019, Institute for Policy Studies A simple reality of our deeply unequal age: Extravagantly wealthy people cheat on their taxes. Regularly. Extravagantly, too. Our super rich are stashing vast chunks of their personal fortunes in offshore tax havens, generating billions annually in new income that — to their governments — goes unseen and untaxed. Just how enormous has …