Editorial: Tax-cut bills are milestones in the history of American plutocracy

The Senate Republicans’ disastrous tax-cut bill was moving inexorably toward passage late last week when two key GOP senators suddenly realized that the $1.5 trillion package wouldn’t pay for itself. Well, of course it wouldn’t pay for itself. Since details began to emerge last summer, every independent analysis said it wouldn’t. Nearly every economist from […]

The Republican tax bill will exacerbate income inequality in America

America’s rich have gotten richer for decades, while the middle class and poor have seen meager gains. Since the mid-20th century, the top 1 percent have more than doubled their share of the nation’s income, from less than 10 percent to more than 20 percent. Donald Trump said he was going to fix it — that he would represent […]

The Four Big Tax Deceptions

The independentevaluations of the Trump tax plan have been rough. They show a plan that deeply cuts taxes on the wealthy, causes the deficit to jump and does little to lift economic growth. Yet the plan’s defenders continue to describe it as a “beautiful” thing (President Trump’s word) that would transform the economy and bestow gifts on […]

This eye-popping chart on inequality is a slap in the face of America’s middle class

Why does the US economy still feel iffy to most Americans despite an eight-year economic expansionand historically low unemployment? Look no further than this eye-popping chart of income growth between 1980 and 2014 courtesy of Berkeley’s elite-squad of inequality research, including Thomas Piketty, Emmanuel Saez, and Gabriel Zucman. Featured in a recent blog from the University of […]