‘Extreme wealth is a sign of a failing economic system.’ Oxfam Report Contains Dire Warning for Global Capitalism

January 23, 2020 by Truthdig “Extreme wealth is a sign of a failing economic system.”by Ilana Novick, Common Dreams “The gap between rich and poor can’t be resolved without deliberate inequality-busting policies.” (Photo: blind.fortune / Flick) “I don’t think 500 billionaires are the reason we’re in trouble,” former Vice President Joe Biden told an audience at the Brookings Institute in 2018. It …

Dialog between an organizer and an elder

The following exchange is between 33-year-old organizer Yotam Marom and 82-year-old George Lakey, whose activism, organizing and training spans over 50 years. As journalist/activist Bill McKibben says, even Congress cannot suspend the laws of physics. Growing failure on the environmental front produces what political scientists consider a recipe for rapid change and even revolution: the demonstrated inability of a government …

US spends $1.5 Trillion annually on war

By William D. Hartung and Mandy Smithberger, Tomdispatch.comNovember 2, 2019 | EDUCATE! In its latest budget request, the Trump administration is asking for a near-record $750 billion for the Pentagon and related defense activities, an astonishing figure by any measure. If passed by Congress, it will, in fact, be one of the largest military budgets in American history, topping peak levels reached during the Korean and Vietnam Wars. And keep …

Bernie Sanders, Elizabeth Warren, and other congressional progressives want to tax companies that overpay their CEOs. Most Republicans would go even further: A Harvard Business School study found that Americans think the right CEO-worker pay ratio is no higher than 7 to 1

All this could mean bipartisan traction for a new bill introduced by Senators Bernie Sanders and Elizabeth Warren and Representatives Rashida Tlaib and Barbara Lee earlier this month. It would raise the federal corporate income tax rate on companies that pay their CEOs more than 50 times their median workers’ pay.The bigger the gap, the bigger the hike. At a …

How Reparations to Descendants of Slavery Can Heal a Nation

To truly understand the debt this country owes to Black people is to be liberated from the bondage of miseducation that we’ve remained shackled to in the so-called land of the free. Zenobia Jeffries Warfield posted Nov 13, 2019, Yes Magazine On a spring day, I stood at the corner of Madison and Pennsylvania avenues in the nation’s capital, transfixed on …

Sanders, Lee, and Tlaib Lead Effort to Tax Huge CEO-Worker Pay Gaps

The House-Senate companion bill addresses corporate America’s extreme disparities, giving firms an incentive to lift up the bottom and bring down the top of their pay scales. NOVEMBER 13, 2019, by Sarah Anderson Anew congressional bill would deliver heftier IRS bills to corporations that overpay their top executives at the expense of their workers. Institute for Policy Studies experts have advocated …

Why a Surtax on Multimillionaires’ income is better than wealth tax

By Chuck Collins, Marketwatch.com November 18, 2019 | CREATE! Here’s the simplest way to collect more revenue from the top 0.2% Some business leaders may be concerned about some of the tax proposals being floated by Democratic candidates for president. But plenty of them — from JPMorgan Chase JPM, -0.36%  CEO Jamie Dimon to Starbucks SBUX, -0.39%   founder Howard Schultz — agree that it’s time for wealthy people …