Economy and Business
Too Big to Ignore
Three years after the Occupy movement first directed long-overdue attention to the scourge of inequality in America, the gulf between rich and poor has gotten too big for even the Federal Reserve to ignore. As Federal Reserve Chair Janet Yellen recently pointed out,...
Obama: Don’t Sell Out America’s Women
President Barack Obama has insisted up and down that he's willing to work with the Republicans who are taking over the Senate. He proved it during his recent visit to Beijing, where he urged world leaders to come to agreement on the Trans-Pacific Partnership (TPP) — a...
Show Up on Thanksgiving or Get Fired
Most Americans — from the Obama family in the White House to my little family in Texas — will get a much-deserved break from work on Thanksgiving Day. But millions of others won't. Understandably, firefighters, police, and hospital workers will stay on the job. After...
Does This Definition Make Me Look Rich?
How much income do America’s households take in? How much do they have left after taxes? Do federal taxes leave the nation less or more unequal? Questions don’t get much more basic than these. Or more complicated. How, for instance, do we define income? Anything...
Chief Tax-Dodging Officers
Republican and Democratic leaders don’t often see eye to eye on taxes. But surprisingly, corporate tax reform looks like one area where there might actually be some potential for bipartisan action in Washington. This should be good news, since our corporate tax system...
High-Status Sad Sacks
Here's something that might not have occurred to you: It's not easy being rich. Well, yes, there are all those things that money can buy to alleviate the burden of fabulous wealth — things like servants, summers in Provence, private jets, and such. But as an article...
Leave No Generation Behind
Over a decade ago, I got a call from Bill Gates. Not the Bill Gates you're probably thinking of. It was Bill Gates Sr., the Microsoft founder's dad. He was eager to speak out in support of the federal estate tax, our nation’s only levy on inherited wealth. He called...
Silicon Valley Shakedown
The demigods of Silicon Valley like to present themselves as miracle workers, able to create electronic wonders (and wondrous profits) from nothing but their vaunted imaginations and entrepreneurial prowess. Well, yes. But there’s another part to that program: their...
Your Server Isn’t on the Menu
At a popular sit-down restaurant in Independence, Missouri, Allison waits tables for $3.60 an hour — the going rate for servers at her restaurant. Advocates of raising the federal hourly tipped minimum wage of $2.13 up to the standard minimum wage — currently pegged...
The 0.01 Percent’s ‘I Reap All’ Accounts
Do you remember when Mitt Romney's IRA made headlines during his failed 2012 presidential campaign? That outsized retirement stash estimated at between $20 and $102 million probably led President Barack Obama to propose limiting the buildup of IRA values. It turns out...
