Reviewing some of my saved stuff from all about the Hard Drive…

…and or email, other blogs, etc. etc..

“The built-in tendency for the top to outpace everyone else will not yield to minor patches.
— Nobel Prize-winning economist Robert M. Solow, reviewing Thomas Piketty’s Capital in the Twenty-First Century…  Last month, a Princeton University study showed that the United States is now closer to an oligarchy than a democracy.

From an email from Cole Leystra of progressives united pac

We are in danger of becoming a country where wealth is so entrenched that the only way to get it is to be born with it. These are some of the policies we think could stop the entrenchment of wealth in America:

  1. Capital gains tax — Basically, capital gains are the profits people make on stock sales. They’re the chief source of income for many of the richest Americans, and they’re currently taxed at a lower rate than wages and salaries.

  2. Wealth tax — Piketty’s own preferred solution directly addresses the problem: Since wealth grows faster than the rest of the economy, a wealth tax would effectively equalize the growth rates.

  3. Corporate structure — The law doesn’t specify that CEOs have to get paid hundreds of times more than their employees or that they have to put profits over people. We can reform how corporate boards determine executive compensation and how they calculate shareholder value.

  4. Large financial transactions tax — Many of the wealthiest Americans pad their wealth with stock speculation and rapid trades of capital assets. Taxing these transactions would close a big tax loophole only the rich enjoy, and it would benefit everyone by increasing stability.

  5. Monopolies — Single companies controlling Internet access. Outrageous cellphone bills. Mega-banks that are deemed “too big to fail.” Restoring and updating anti-trust laws would bring back healthy competition and help break up the power of some wealthy corporations and executives.

 

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Posted in Gilded Age Inequality and Its Consequences

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