Category: Wealth
As executives hike prices, US corporations rake in biggest profits since 1950
“Prices are high,” said Sen. Sherrod Brown, “because corporations are raising them—so they can keep paying themselves with ever-larger executive bonuses and stock buybacks.” by Jake Johnson, Common Dreams November 30, 2021 New data released by…
The Secret IRS files: Trove of never-before-seen records reveal how the wealthiest avoid income tax
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. by Jesse…
Workers stage Global Day of Action to #MakeAmazonPay
“Loud and clear, Amazon’s producers, distributors, and delivery drivers are telling Jeff Bezos: pay your workers.” by Brett Wilkins, staff writer Asserting that workers—not CEO Jeff Bezos—drive Amazon’s success, employees of the world’s largest online…
Corporations rigged rules to boost pandemic pay of CEOs
“By inflating executive compensation while their workers struggled during a pandemic, corporate boards have strengthened the case for tax penalties on huge CEO-worker pay gaps.” by Jake Johnson, staff writer Tuesday, May 11, 2021 Dozens…
Jayapal calls for crackdown on wealthiest after IRS chief says tax evasion costs US $1 trillion a year
“We don’t just need a wealth tax, we also need to give the IRS the tools it needs to make sure the ultra-rich finally pay their fair share.” by Kenny Stancil, staff writer April 15, 2021…
719 billionaires now own four times more wealth than poorest 165 million Americans combined
“Congress should act to restore taxes on the wealthy and limit further democracy-distorting concentrations of wealth and power.” by Jake Johnson, staff writer Thursday, April 15, 2021 After seeing their fortunes surge during the deadly coronavirus…
John Thune’s childhood $6 wage—$24 adjusted for inflation—sure helps make the case for at least $15
“The worst thing is that these people aren’t dumb. They know about inflation… They just don’t think people who make their food and clean their bathrooms deserve the same things they got.” by Kenny Stancil, staff…
As US mourns 500,000 lives lost, report shows billionaires added $1.3 trillion to their fortunes during pandemic
“It is unseemly that billionaires have experienced such gains as we mark a half a million lives lost and millions more who have lost their health, wealth, and jobs.” by Jake Johnson, staff writer Wednesday, February…
Most profitable US companies fired workers, enriched shareholders during pandemic
“This is a global crisis but the big companies are not treating it as one—they haven’t skipped a beat.” by Kenny Stancil, staff writer Thursday, December 17, 2020 While the Covid-19 pandemic and corresponding economic crisis…
Study of 50 years of tax cuts for rich confirms ‘trickle down’ theory is a sham
“Major tax cuts for the rich since the 1980s have increased income inequality, with all the problems that brings, without any offsetting gains in economic performance.” by Kenny Stancil, staff writer Wednesday, December 16, 2020 Neoliberal…
Billionaire wealth has surged by $931 billion during seven months of pandemic, economic collapse
‘The Gilded Age is here again’ “The juxtaposition between surging billionaire wealth and the imploding livelihoods of ordinary Americans is grotesque and unseemly.” by Jake Johnson, staff writer Tuesday, October 20 Over just the past seven…
As Covid-Positive GOP Politicians enjoy healthcare they ‘would deny others,’ Coronavirus pandemic again makes case for Medicare for all
‘Mystifying that people think this kind of class system in healthcare is worth fighting to preserve’ “The moral of the story is, he lied to you for months and encouraged you to live recklessly during a…
In address on inequality amid pandemic, Pope calls on global community to confront ‘destructive effects of empire of money’
“Anyone who thinks that the only lesson to be learned was the need to improve what we were already doing, or to refine existing systems and regulations, is denying reality.” by Julia Conley, staff writer Sunday,…
City of Hoboken files climate suit against Exxon
‘The Most Ruthless, Deceitful, and Unapologetic Climate Polluters on the Planet’ “With climate costs surging everywhere and local budgets depleted, more and more communities are turning to the courts as their only recourse to make polluters…
Bezos grew record-setting $13 billion richer on Monday as poor and working class in US face financial cliff
“In ONE DAY Jeff Bezos made well over 4,000 times what the average American earns in their ENTIRE LIFETIME.” by Julia Conley, staff writer Tuesday, July 21 Days before the expiration of federal unemployment benefits is…
The CARES Act sent you a $1,200 check but gave millionaires and billionaires far more
The stimulus checks were meant to get average Americans through the lockdown, but those $1,200 payouts were small change compared with the billions in tax breaks the CARES Act handed out to the country’s wealthiest. by…
Why are working people forced to sacrifice for the common good but not the titans of capitalism?
Why is it that lawmakers can order workers to stop working, and small business owners to lock their doors, but not order landlords, bankers, and Wall Street investors to also suspend their activities? by Scott Klinger…
‘Green Stimulus’ demanded to battle convergent crises of coronavirus, economic injustice, and climate emergency
The plan calls for spending at least $2 trillion on millions of green jobs, strategic investments to aid frontline communities, expanding public and employee ownership, and rapidly cutting carbon pollution. by Jessica Corbett, staff writer…
Wall Street is crippling the single-family housing market
New Orleans The financial meltdown in the real estate market of 2007, marked by foreclosures triggered by speculation and broker scams and wiping out the citizen wealth of millions of families, continues to carry a…
Today, political office is no country for billionaires
New Orleans Politics is drowning in money or, more accurately, money is drowning politics. Estimates for the campaign for President now run in the billions. There is every indication that future campaigns will be even…
America’s rich refugee crisis
By Jim Hightower The prospect of a 2 percent tax on wealth over $50 million has rich Americans considering expatriating. This is a make or break year for many migrants seeking to improve their families’ financial…
