Tuesday, August 30, 2011

Inequality by the Numbers

I wanted to share with you today a graph that came from this week’s edition of one of our past featured partners, Too Much, illustrating the type of revenue that could be raised if certain changes were made to the tax code.

Along with this, the newsletter this week also featured a great piece on a memo that Justice Powell wrote in 1971 (back before he was a Supreme Court judge) for the Chamber of Commerce that outlined what they could do to “jumpstart a crusade to save free enterprise”. The article notes that even though the memo blasts left-wing “extremists,” the drastic inequality that has resulted from the past four decades of deregulation and decreasing tax rates on the wealthy would most likely trouble Powell. He “saw business as a champion for prosperity for all. He considered unions and collective bargaining ‘essential’ to the freedom Americans enjoy. Today’s U.S. Chamber of Commerce, by contrast, acts as the lobbying ringleader against any and all legislation that seeks to help workers organize and bargain.”

Free enterprise run amok.

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