Rise of the Non-Working Rich

inherited wealth

Robert Reich: The “self-made” man or woman, the symbol of American meritocracy, is disappearing. Six of today’s ten wealthiest Americans are heirs to prominent fortunes.

Let’s Cut Our Taxes — Sensibly

Cutting Taxes

Norman Solomon: When a drone or cruise missile implements an assumed right to snuff out a life, without a semblance of due process, the presidential emulation of divine intervention is implicit.

Passing Gas to the Consumer

#147409718 / gettyimages.com

Walt Brasch: Gas prices at the pump during the July 4th extended weekend were the highest they have been in six years. This, of course, has little to do with supply-and-demand economics. It has everything to do with supply-and-gouge profits.

The Looming Foreclosure Crisis

foreclosure crisis 2014

Ellen Brown: Mortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.

Does Capitalism Inevitably Produce Inequalities?

wealth and labor

Ann Robertson and Bill Leumer: Although politicians religiously deny that these contributions have any influence on their decisions, it is inconceivable that businesses – always obsessed with their “bottom line” – would continue these contributions without a “return on their investment.”

The GDP Fiasco: It’s Been One Snafu After Another

Shrinking Economy

Richard “RJ” Eskow: Granted, everybody gets it wrong sometimes, but this time our economists were really wrong. We were told the economy grew slightly in the first quarter of this year. Now, two revisions later, the latest GDP estimate concluded that the economy actually shrank.

Buying Up the Planet

central banks buying stocks

Ellen Brown: Today, however, central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment, to compensate for the loss of bond income due to record-low interest rates. Indeed, central banks have become some of the world’s largest stock investors.

Rescue The Middle Class: Save Capitalism

Saving Capitalism

Robert Reich: Business leaders know the U.S. economy can’t get out of first gear as long as wages are declining. And their own businesses can’t succeed over the long term without a buoyant and growing middle class.

The Next U.S. War Should Target Poverty

Obama Targets Poverty

Randy Shaw: On issue after issue—education, housing, health care, transportation, student debt—the American people are being shortchanged because Beltway wisdom says that the U.S. cannot “afford” solutions.

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