Portside

When more and more can be done by fewer and fewer people, the profits go to an ever-smaller circle of executives and owner-investors. It may be that a redistribution of income and wealth from the rich to the rest of us becomes the only means of making the future economy work.

Economic statistics? Evolution? Climate change? If you don’t like the facts, make them up. Or have your benefactors finance “think tanks” filled with hired guns who will tell the public what you and your patrons want them to say. If all else fails, fire experts who tell the truth, and replace them with people who will pronounce falsehoods.

Carried interest allows hedge-fund and private-equity managers, as well as many venture capitalists and partners in real estate investment trusts, to treat their take of the profits as capital gains — taxed at maximum rate of 23.8 percent instead of the 39.6 percent maximum applied to ordinary income. So why didn’t Democrats close it when they ran Congress?

It used to be that economic expansions improved the incomes of the bottom 90 percent more than the top 10 percent. But starting with the “Reagan” recovery of 1982 to 1990, the benefits of economic growth during expansions have gone mostly to the top 10 percent. Since the current recovery began in 2009, all economic gains have gone to the top 10 percent.

American kids are getting ready to head back to school. But the schools they’re heading back to differ dramatically by family income. Which helps explain the growing achievement gap between lower and higher-income children. Thirty years ago, the average gap on SAT-type tests between children of families in the richest 10 percent and bottom 10 percent was about 90 points on an 800-point scale. Today it’s 125 points.

Since the 2010 election cycle, Walgreen’s Political Action Committee has spent $991,030 on federal elections. If it becomes a Swiss corporation, it shouldn’t be able to spend a penny more.

Today, as then, a group of Americans is denied the dignity of decent wages and working conditions. Today, just as then, powerful forces are threatening and intimidating vulnerable people for exercising their legal rights. Today, just like fifty years ago, people who have been treated as voiceless and disposable are standing up and demanding change.

Some argue that the broadband market already has been carved up into a cartel, so blocking the acquisition would do little to bring down prices. Washington should examine a larger question beyond whether the deal is good or bad for consumers: Is it good for our democracy? We haven’t needed to ask this question for more than a century because America hasn’t experienced the present concentration of economic wealth and power in more than a century.

Seven reasons why we should be raising the federal minimum to $15 an hour

The vast middle class and poor don't have enough purchasing power, as 95 percent of the economy's gains go to the top 1 percent. Some wealthy people and big corporations have a strangle-hold on our politics. "McCutcheon" makes that strangle-hold even tighter. Connect the dots and you see how the big-money takeover of our democracy has lead to an economy that's barely functioning for most Americans.