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1 Percent

In Rahm Emanuel's 'Embarrassing' Victory, A Warning for Democrats

Richard (RJ) Eskow | Posted 04.08.2015 | Politics
Richard (RJ) Eskow

Despite the power of incumbency and the backing of the President, Rahm Emanuel nevertheless became the first mayor in Chicago history to be forced into a runoff. Emanuel's struggle to retain his office is a warning for politicians everywhere: Corporate Democrats are likely to find themselves on the defensive in 2016 and beyond.

Wall Street Bonuses Rise 2 Percent Even As Profits Fall

Reuters | Posted 03.11.2015 | Business

NEW YORK, March 11 (Reuters) - The average bonus on Wall Street rose 2 percent last year to $172,860, even as pre-tax profits at the broker-dealer o...

Federal Tax Code Unfair to the Super-Wealthy?

Dale Hansen | Posted 03.10.2015 | Politics
Dale Hansen

It's certainly possible that the top tax rate in America is too high, but the fact that elected officials in charge of tax policy pretend that what the top 1 percent pay in federal income tax is reasonable proxy for fairness tells you all you need to know about how serious they are about fixing the problem.

The Crisis of Liberal Democracy

Michael Gould-Wartofsky | Posted 03.04.2015 | Politics
Michael Gould-Wartofsky

The class bias of American politics has not only cost us our democracy. It has also cost us our jobs, our health, and our security. For years, the recovery was crippled by the politics of austerity, as a bipartisan coalition took a butcher's knife to the public sector, and as balanced budgets took precedence over basic needs.

The #RepublicanClassWar's New Front: Social Security for the Disabled

Richard (RJ) Eskow | Posted 04.14.2015 | Politics
Richard (RJ) Eskow

Class war is precisely what we've been seeing for decades now -- but it's been waged for, not against, the wealthy. And Republicans have been its dutiful servants from the start. It might make a good hashtag, come to think of it: #RepublicanClassWar. The wreckage of this war can be seen all around us.

Bitcoin Belongs to the People, Not the 1% Super Rich

Dr. Behzad Mohit | Posted 03.31.2015 | Technology
Dr. Behzad Mohit

We must not allow this new "Freecoin" to be owned or bought and sold with real money. For the moment that a currency becomes interest-bearing and is subject to transaction and storage charges, it becomes a tradable commodity itself and it loses its equalizing value.

Here's How Much You Have To Earn To Be In The 1 Percent In Each State

The Huffington Post | Emily Cohn | Posted 01.26.2015 | Business

What does it take to make it into the 1 percent of earners? In Arkansas, you'd need to pull in $228,298 a year. In Connecticut, the threshold is $677,...

Davos: Wealth Inequalities and the Collapse of Trust

Don Tapscott | Posted 03.22.2015 | Business
Don Tapscott

Undoubtedly timed to the opening of the World Economic Forum annual meeting in Davos, a new report by Oxfam says the richest 1 percent of people in the world will have a majority of the wealth on the planet next year. The report is a perfect preamble to the Davos meeting.

And Now the Richest .01 Percent

Robert Reich | Posted 01.18.2015 | Politics
Robert Reich

The richest Americans hold more of the nation's wealth than they have in almost a century. What do they spend it on? As you might expect, personal jets, giant yachts, works of art, and luxury penthouses. And also on politics.

Here's What A Billionaire's Social Calendar Looks Like

The Huffington Post | Alexander C. Kaufman | Posted 09.26.2014 | Business

It's time to chart the course for the yacht and fuel up the Gulfstream. Tucked inside an 87-page billionaire census report, published by market res...

You're Losing $18,000 A Year Because Of Income Inequality

The Huffington Post | Jillian Berman | Posted 08.27.2014 | Business

The rich have gotten richer at the expense of the rest of us. The rise in income inequality of the past few decades has taken money from the pocket...

One Percenter Sacrifices Some of His Wealth to Raise Minimum Wage

Carl Gibson | Posted 10.13.2014 | Politics
Carl Gibson

Who knew that a former executive at General Electric, a company widely-known for its tax dodging and outrageous lobbying expenses, would take a bold, selfless stand against income inequality as president of a public university?

The Rise Of The Non-Working Rich

Robert Reich | Posted 09.14.2014 | Politics
Robert Reich

In a new Pew poll, more than three quarters of self-described conservatives believe "poor people have it easy because they can get government benefits without doing anything." In reality, most of America's poor work hard, often in two or more jobs. The real non-workers are the wealthy who inherit their fortunes. And their ranks are growing. In fact, we're on the cusp of the largest inter-generational wealth transfer in history. The wealth is coming from those who over the last three decades earned huge amounts on Wall Street, in corporate boardrooms, or as high-tech entrepreneurs. It's going to their children, who did nothing except be born into the right family.

Class Warfare: The 2014 Election

Bob Burnett | Posted 08.06.2014 | Politics
Bob Burnett

Rather than focus on jobs, the 1 percent are attempting to turn the 2014 election into a referendum on President Obama.

Watch: Joseph E. Stiglitz Calls for Fair Taxes for All

Bill Moyers | Posted 08.02.2014 | Politics
Bill Moyers

A new report by Nobel Prize-winning economist Joseph E. Stiglitz for the Roosevelt Institute suggests that paying our fair share of taxes and cracking down on corporate tax dodgers could be a cure for inequality and a faltering economy.

Heirs To Inherit $36 Trillion For Doing Nothing

CNBC | Robert Frank | Posted 05.29.2014 | Business

The greatest wealth transfer in history is underway, according to a new report. A study from the Boston College Center on Wealth and Philanthropy p...

The Biggest Worry About Transhumanism

Zoltan Istvan | Posted 07.21.2014 | Technology
Zoltan Istvan

Will technology and science that make our species more transhuman be used to create a deeper divide in society for the haves and have-nots?

What Made America Famous

Rep. Alan Grayson | Posted 07.17.2014 | Politics
Rep. Alan Grayson

Many Americans believe that the top one percent is responsible for the rising tide of inequality in America, which is swamping and drowning the other 99 percent. Professor Emmanuel Saez of the University of California at Berkeley says that they are wrong.

85-Year Old Oil Tycoon Can't Stop Tweeting At Rappers About Money

The Huffington Post | Kevin Short | Posted 05.09.2014 | Business

T. Boone Pickens, the 85-year-old oil tycoon, was giddy to welcome Dr. Dre into the ridiculously rich people's club Friday, following the news that Ap...

Brazilians' Spending in the U.S.

Julia E. Sweig | Posted 07.07.2014 | Business
Julia E. Sweig

I guess we are supposed to celebrate this kind of purchasing power -- and love for the Big Apple -- as a sign that Brazil has arrived on the world stage.

In a Land Where the Dollar Can Speak Its Mind, But We Can't

Tom Engelhardt | Posted 07.01.2014 | Politics
Tom Engelhardt

In an America where, when it comes to the political system, the Supreme Court has now granted the dollar the full right to speak its mind, and ever more of those dollars can be found in the pockets of... well, not to put a fine point on it, plutocrats, we need a new (that is, old) vocabulary to fit our changing circumstances.

3 Ideas to Solve the Inequality Crisis in America

Paul LaRosa | Posted 06.24.2014 | Politics
Paul LaRosa

Stop taxing unemployment benefits. This is a regressive concept. Why should we be taxing the meager benefits of those Americans who are out of work? Give them a break. They're down on their luck. Why require them to pay taxes on benefits?

America by the Numbers: Part II

Dave Pruett | Posted 06.22.2014 | Religion
Dave Pruett

Appalled both by the concentrations of wealth enjoyed by the French aristocracy and by their callous exploitation of the poor, Thomas Jefferson proposed an antidote for the fledgling United States: a progressive tax code.

This WSJ Chart About Taxing The Rich Doesn't Tell The Whole Story

The Huffington Post | Emily Cohn | Posted 04.14.2014 | Business

The Wall Street Journal trolled the private-jet set this weekend, warning the wealthy of the "sticker shock" of soaring taxes. But fear not, rich peop...

The War on Democracy: SCOTUS Weighs In

Bob Burnett | Posted 06.11.2014 | Politics
Bob Burnett

The Republican plutocratic agenda couldn't work without millions of dollars in unrestricted conservative funding. Thanks to the Republican majority in the Supreme Court, all the barriers against big money and guarantees of political fairness are being dismantled.