US billionaires’ wealth is soaring while millions remain unemployed, creating a country with two economies and increased inequality
Billions are going to zillionaires under the guise of pandemic relief. While President Trump and his allies in Congress seek to tighten access to food stamps, they are showing compassion for one group: zillionaires.
Michael Bloomberg has already spent more of his own money than Trump or Tom Steyer. He’s making a joke of our democracy – and Democrats should be appalled. Some Democrats, are inviting him on the debate stage.
No black person — or Hispanic person or ally of people of color — should ever even consider voting for Michael Bloomberg in the primary. His expansion of the notoriously racist stop-and-frisk program is a complete and nonnegotiable deal breaker.
In today's global economy, financial security is increasingly the property of the 1%.
Written one week before the current Wall Street tumble, economist Nomi Prins writes: Watch out. Even in the seemingly best of times, neglecting Wall Street is a dangerous idea. With a rag-tag Trumpian crew of ex-bankers and Goldman Sachs alumni as the only watchdogs in town, it’s time to focus, because one thing is clear: Donald Trump’s economic team is in the process of making the financial system combustible again.
When the heirs and heiresses of billionaire fortunes can take over an entire political party and force them to pass public policies that the vast majority of even their own voters don't want, there is a problem with democracy. A conversation with Michael Kink, executive director of the Strong Economy for All Coalition.
Overwhelming analysis shows the tax plan does very little to help middle income families. The non-partisan Tax Policy Center found that after the tax plan has taken full effect in 2027, 80 percent of the benefits would go to the top 1 percent.
Portside is proud to bring our readers a full chapter from the book Imagine: Living in a Socialist USA. Periodically Portside will be sharing with our readers chapters and excerpts from books we feel are noteworthy. What better way to launch, than a book about socialism-in the USA. Ron Reosti's chapter - A Democratically Run Economy Can Replace the Oligarchy - argues we can democratically design and control an economy that satisfies the needs and desires of the people.
The .01 percent includes wealthy individuals from both ends of the political spectrum, but there are relatively few in between and the numbers at the extremes are growing. And more money is coming from the right.
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