RATIONAL RESISTANCE
November 29, 2012
According to the Economic Policy Institute (EPI) website (“The State of Working America“), “inequality has risen sharply over the last several decades.” In fact, the EPI reports that 38.3% of all wealth growth from 1983 to 2010 went to the top 1%, and 74.2% went to the top 5%. What happened to the bottom 60%? They saw their wealth decline.
November 24, 2012
I have a secret to reveal. I used to regularly shop at Walmart. I live in the outer stretches of Philadelphia’s western suburbs, and Walmart happened to be the closest place to go food shopping. I was never enthusiastic about shopping at Walmart, and as my social and political views evolved, I grew even more uneasy with contributing my money to a company in opposition to my values. So nearly three years ago I stopped food shopping at Walmart, and in fact, I don’t think I’ve stepped foot inside a Walmart since then.
November 21, 2012
What is the Social Security “wage cap”? It’s the maximum income level taxed at the 6.2% rate for Social Security benefits. All income above the cap ($113,700 in 2013) is free and clear of Social Security (payroll) taxes. Yes, you read that correctly. All income above the wage cap is exempt from Social Security tax. It’s safe to say this is quite a regressive tax.
July 22, 2012
It’s quite possible the real reason Mitt Romney does not want to release more years of tax returns is that he knows it will only serve to put a sharper focus on progressive taxation in the United States. In fact he and his wife Ann have all but said that. They haven’t spelled out the specifics but they have said they won’t release more returns because it will result in more criticism.
June 23, 2012
There will be naysayers who cite causality when they see a chart like the one below, and that is fine. I agree, we cannot directly correlate the top one percent’s share of total pre-tax income with all things that ail this country, but is anyone going to make the case that income inequality of this magnitude is healthy for the future of the United States?
May 25, 2012
This topic will never die on The Left Call, at least not until people stop believing the lie that is trickle down economics. This idea that we need to give rich people more money in the form of tax cuts before they will create more jobs would make for a nice laugh if it wasn’t so damaging to the country and to the prospects of income and wealth equality. And when I say equality, I don’t mean totally equal, I’m talking about getting back to something more reasonable, a time when CEOs only made 30 times the average worker instead of 300 times.
March 14, 2012
March 9, 2012
February 29, 2012
November 13, 2011
