I have previously cited Nick Hanauer, the billionaire who has repeatedly pointed out that the belief–embraced by the GOP–that raising the minimum wage depresses job creation is a fallacy. As Hanauer has emphasized, this economic theory has cause and effect backwards: jobs are created by demand. (If you aren’t selling your widgets, you aren’t hiring more people […]
Recently, I posted about the difference between tax cuts and tax reform, and why we need the latter but not the former. That argument was made–far more persuasively than I made it–by billionaire Nick Hanauer, in a recent post to Politico. The Republican tax plan is a scam—a massive and destructive financial giveaway masquerading as pro-growth […]
What does the pandemic have in common with income inequality? Both target the same low-income people, and enrich the already-wealthy. According to Inequality.org, U.S. billionaires have seen their wealth jump over $930 billion since mid-March alone. If this interminable election season finally ends, and if–as polls suggest is possible (I’m too superstitious to say “likely”)–Democrats […]
I don’t usually care for Thomas Friedman’s columns. It isn’t that I necessarily disagree with his conclusions–although I often do– but he tends to adopt a “let me explain to those of you not as smart as me” tone that I find extremely annoying. But his recent column about Mike Bloomberg’s candidacy deserves to be […]
Are more zillionaires joining “renegade” rich guys like Nick Hanauer and Warren Buffett and recognizing the dangers posed by the current gap between the rich and the rest? A recent article from the Guardian was titled “Patriotic millionaires want to pay more taxes.” Those millionaires didn’t mince words. If you believe the prevailing philosophy of US conservative ideology, […]