By Chuck Collins and Omar Ocampo | – For the first time in U.S. history, the top twelve U.S. billionaires surpassed a combined wealth of $1 trillion. On Thursday August 13, these 12 held a combined $1.015 trillion. This is a disturbing milestone in the U.S. history of concentrated wealth and power. This is simply […]
Super-Rich making out like Bandits in Pandemic is an Argument for Basic Wealth Tax
By Lee Price and Bob Lord | – ( Inequality.org) – Changes in tax policy since 1980 have been driving U.S. inequality to levels not seen since the original Gilded Age. Reversing that trajectory — and restoring a more egalitarian society — will require a complete overhaul of the changes in tax policy we’ve seen […]
The 1%’s attack on Unemployment Benefits is a Sign of our Broken Democracy
By Adam Shah | – ( Inequality.org ) – Members of the One Percent, such as former restaurateur Andrew Puzder, have urged Congress to not renew the $600 a week unemployment supplement Congress enacted as part of the CARES Act. They argue, in Puzder’s words, that “this $600 per week bonus is discouraging work” for […]
As 38.6 Million File for Unemployment, Wealth of Billionaires surged $435 Bn
By Omar Ocampo and Chuck Collins | – ( Inequality.org) – The number of U.S. citizens filing for unemployment increased to 38.6 million since March 18, according to the Bureau of Labor Statistics. Over the same two months, the wealth of U.S. billionaires has surged $434 billion – an increase of 15 percent. The combined […]
Will Covid-19 Crisis bring Americans together Across Race or Will they Double down on Razing Safety Net?
By Lewis M. Steel< | - ( Inequality.org) – The new book by New York Times economics reporter Eduardo Porter, American Poison: How Racial Hostility Destroyed Our Promise, is not for the faint of heart. According to Porter, America’s struggling white middle class, and especially those without college or advanced degrees who once worked in […]
The Middle East was beset by Terrorism; now it Faces Coronavirus and Economic Freefall
By Colin Powers| – ( Inequality.org ) – As acutely as COVID-19 and related policy responses are widening inequality in the United States, the pandemic’s biased effects threaten to be even more pronounced in many parts of the global south. This certainly appears to be the case for the non-Gulf countries of the Middle East […]
Billionaire Bonanza 2020: Wealth Windfalls, Tumbling Taxes, and Pandemic Profiteers
By Chuck Collins, Omar Ocampo and Sophia Paslaskiis | – Billionaire Wealth and the Pandemic ( Inequality.org) – In its 34th annual list of global billionaires, published on April 7, 2020, Forbes reports a modest decline in the total number of billionaires from 2,153 in 2019 to 2,095in 2020. “The world’s richest are not immune […]
The Real Winners of Iran Conflict: Threat of War Inflates Stock Holdings of Military Contractor CEOs
By Sarah Anderson | – (Inequality.org) – As long as the top executives of our privatized war economy can reap unlimited rewards, the profit motive for war in Iran — or anywhere — will persist. CEOs of major U.S. military contractors stand to reap huge windfalls from the escalation of conflict with Iran. This was […]
Top 8 Ways the Massive Trump Tax Cut Made the Super-Rich Super-Richer and Failed Working Families
By Frank Clemente | – In the two years since Congress passed the Republican tax law, the richest 1 percent have been the big winners. Republicans repeatedly promised in 2017 that their proposed tax cuts for the wealthy and corporations would increase jobs, pay for themselves, give every family a big raise and would really […]
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