Realigning the interests of CEOs with their employees and the rest of our country would be good for the economy and national morale.
Chuck Collins is a senior scholar at the Institute for Policy Studies (IPS) and directs IPS’s Program on Inequality and the Common Good. He is an expert on U.S. inequality and author of several books, including Economic Apartheid in America: A Primer on Economic Inequality and Insecurity, co-authored with Felice Yeskel. (New Press, 2005). He co-authored with Bill Gates Sr. Wealth and Our Commonwealth, (Beacon Press, 2003), a case for taxing inherited fortunes. He is co-author with Mary Wright of The Moral Measure of the Economy, a book about Christian ethics and economic life.
He is co-founder of Wealth for the Common Good, a network of business leaders, high-income households and partners working together to promote shared prosperity and fair taxation.
In 1995, he co-founded United for a Fair Economy (UFE) to raise the profile of the inequality issue and support popular education and organizing efforts to address inequality. He was Executive Director of UFE from 1995-2001 and Program Director until 2005.
It nests with corporations, squawking for tax breaks, bailouts and military contracts that have little to do with national security.
How can a civilized nation afford to hand the heirs of the super-rich billions of dollars tax-free and not afford to keep teachers in classrooms?
When rich individuals and corporations don't pay their fair share, the bills get passed to the middle class.
Wall Street might be bouncing back, but what about the rest of us?
New Treasury rules have backpedaled on CEO pay reform for bailed-out companies. But we can no longer afford the status quo.