A new study shows the U.S. government is losing hundreds of billions a year in uncollected taxes. If Republicans were serious about reducing debt, they'd help the IRS go after tax cheats by increasing its budget rather than working to slash it.
One irritating thing about rich people nowadays is their boundless faith that they can solve society’s most daunting problems – whether it’s underperforming schools or the AIDS epidemic. Yet just because someone made a bundle trading stocks or developing software doesn’t mean they’re equally brilliant in other areas.
The more we prepare young people to be productive and create wealth, the more we will shield seniors from hardship down the line.
Top Republicans have a simple answer to surging public concern about America’s vast wealth divide: More income mobility. Too bad it won’t work.
Economic inequality – the meta concern of the Wall Street protesters – is not an issue that typically gets much traction in American politics. Suddenly, though, the rich are once more under attack, with protesters even marching this week on the swanky Upper East Side digs of JP Morgan Chase chief Jamie Dimon. What happened?
If you’re like most people who are uneasy with the outsized power of finance, chances are you can’t boil down your concerns to a pithy sound bite. So why is there such ridicule of the protesters “occupying” Wall Street for lacking a coherent message?
With polls showing strong public support for tax hikes on the rich, Republicans should hardly relish a fight with President Obama over “class warfare.” And yet, for weeks, GOP leaders have been bashing the White House for a tax plan that affects just 2 percent of U.S. households and lets the rest of us off the hook.
Here in the egalitarian paradise of the United States, there is apparently nothing worse than “class warfare” – which is why Republicans are trying to affix this damning label to President Obama’s new plan to raise taxes on the rich. One hitch, though, is that the billionaire Warren Buffett is not alone in his willingness to pay higher taxes.
It’s a cruel fact for millions of unemployed Americans that the jobs plan President Obama unveiled last night will never be fully enacted by Congress. What’s even crueler, though, is that the least effective elements of the plan have the best chance of passage.