Mitt’s Low-Tax Killing

romney fever

Robert Reich: Now that Mitt Romney is the presumed Republican candidate, it’s fair to ask how he made so much money ($21 million in 2010 alone) and paid such a low tax rate (only 14.9 percent).

Are Mitt and Newt Channeling their Inner Progressives?

newt mitt flip flop

Robert Reich: Gingrich has tried to defend himself by saying Freddy paid him as a “historian,” but anyone with half a brain knows Freddy wasn’t interested in history.

The Great Switch by the Super Rich

super-rich-wide

Robert Reich: Forty years ago, wealthy Americans financed the U.S. government mainly through their tax payments. Today wealthy Americans finance the government mainly by lending it money.

The Shameful Attack on Public Employees

Rev. Martin Luther King Jr., with Memphis sanitation workers.

Robert Reich: Public servants are convenient scapegoats. Republicans would rather deflect attention from corporate executive pay that continues to rise as corporate profits soar, even as corporations refuse to hire more workers.

Why Obama Wins on Foreign Policy and Gays but Loses on Economics and Taxes

santa-pied-piper

Robert Reich: When it comes to protecting the fortunes of America’s rich (mostly top corporate executives and Wall Street) and maintaining their strangle-hold on the political process, Senate Republicans, along with some Senate Democrats, don’t budge.

The Perfect Storm

plutocrat

Robert Reich: The perfect storm: An unprecedented concentration of income and wealth at the top; a record amount of secret money flooding our democracy; and a public becoming increasingly angry and cynical about a government that’s raising its taxes, reducing its services, and unable to get it back to work.

Closing Tax Loopholes For Billionaires

wall street regulation

Robert Reich: It’s not as if these investment fund managers are worth a $20 billion subsidy. Nonetheless they argue that if they have to pay at the normal rate they’ll be discouraged from investing in innovative companies and startups. But if such investments are worthwhile they shouldn’t need to be subsidized. Besides, in the years leading up to the crash of 2008, hedge-fund and private equity fund managers weren’t exactly models of public service. Many speculated in ways that destabilized the whole financial system.

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