1 person has more money than 146,153,846 people
As Tax Scam Turns One, Critics Say Law Is ‘One of the Biggest Transfers of Wealth to Richest 1% in US History’
#TaxScam #DonTheCon #EndCorporateWelfare “Massive corporations are “flush with leftover cash” and Wall Street banks are raking in enormous profits. CEOs and the wealthiest Americans are getting even richer. Average workers are seeing crumbs.
That is the state of the American economy on the one-year anniversary of the passage of the GOP’s $1.5 trillion dollar tax scam, which Americans for Tax Fairness said on Tuesday will go down as “one of the biggest transfers of wealth to the richest one percent in U.S. history.”
Contrary to President Donald Trump’s soaring promises and outgoing House Speaker Paul Ryan’s (R-Wis.) characterization of the tax law as a tremendous victory for ordinary Americans in his newly released “docu-series,” tax policy experts and progressives argued on the tax law’s first birthday that the plan has done virtually nothing for the working class, while making the wealthiest Americans and largest corporations tremendously richer.” (jn)
“A year later, we can safely say that Republicans’ tax overhaul was a huge payoff to donors, and a scam for average Americans.”
“An alarming projection produced by the House of Commons library suggests that if trends seen since the 2008 financial crash were to continue, then the top 1% will hold 64% of the world’s wealth by 2030”
World leaders urged to act as anger over inequality reaches a ‘tipping point’
“Vice President Mike Pence broke a tie vote today in the Senate to confirm Trump nominee Jonathan Kobes to the federal bench despite a “not qualified” rating from the American Bar Association.”
Another new low
Vice President Mike Pence broke a tie vote today in the Senate to confirm Trump nominee Jonathan Kobes to the federal bench despite a “not qualified” rating from the American Bar Association.
Look at these two photos.
Photo 1 is what we usually see. It leads lots of people to come to the conclusion that most of the U.S. is conservative. And to make lots of assumptions about how those blue areas are somehow stealing elections from all that red.
Photo 2 is a cartogram of the same information, with each square representing both an individual district and an approximately equal population. It gives a MUCH more accurate reading of the state of things.
The point is: land mass doesn’t vote. People do. And whether they live in sparsely populated rural areas or in densely populated urban areas, each vote is worth exactly the same – no more and no less – as any other vote.
Photos from the New York Times election coverage.
Commentary from Micheal Philips
This is awesome
“With a direct strike against the grotesque economic inequality that is ravaging societies around the globe, the artist Banksy pulled off a spectacular stunt Friday night when a piece of his artwork—a painting titled “Girl With Balloon” which had just sold for an outrageous $1.4 million—self-destructed right before the eyes of the shocked plutocrats viewing it at the Sotheby’s auction in London.”
“This is the best thing I’ve seen in years!” said one commenter after artist destroys own work moments after it nabs fortune at Sotheby’s
It’s not smart policy to anger the country that makes all our consumer goods
Jack Ma, the founder and chairman of Alibaba, says that the Chinese retail giant no longer promises to create 1 million U.S. jobs in the wake of an escalating trade conflict.
“The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted.”
So much winning, for corporations.
Corporate income tax collections are near a 75-year low, as a share of the economy, after a new law reduced rates and allowed companies to deduct investments immediately.