Truthout
Economy
Supply Chain Failures Prove Growing Need for Localized Economies
The pandemic showed that localized economies are better equipped to respond to the needs of their communities.
26 of US’s Richest Billionaires Paid 4.8 Percent Tax Rate in Recent Years
Warren Buffett paid an effective tax rate of only 0.1 percent between 2013 and 2018, IRS documents show.
7 in 10 Young Voters Support Canceling Student Debt, Poll Finds
The new data adds to a slew of previous polls, nearly all showing that most Americans favor student debt cancellation.
Baby Formula Shortage Reveals Corporate Monopolies’ Grip on Market
Currently the U.S. government subsidizes only a few formula brands. Overhauling this system would combat monopolization.
Officials Raise Concern Over Biden’s Plan to Limit Student Loan Cancellation
Officials say the Education Department doesn’t have the data to implement a debt cancellation plan with an income cap.
Median CEO Pay Leaps to Record $14.7 Million as Workers Strike for Better Wages
2021 was the sixth consecutive record-breaking year for executive compensation.
Let’s End the Shame of Student Debt While Calling for Its Cancellation
To reduce income inequality, we need to reject “debt shaming” and insist on cancellation of student debt.
Expanding Child Tax Credit Improved Kids’ Lives. Congress Should Do It Again.
An expanded Child Tax Credit would acknowledge and support the work that mothers do every day.
Labor Force Participation Continues Toward Pre-Pandemic Levels
While the economy added 428,000 jobs in April, however, overall wage growth showed signs of slowing last month.
As Over a Million Have Died of COVID, US Billionaires Have Gained $1.7 Trillion
The $1.71 trillion wealth gain alone could pay off nearly the entirety of student loans owed by the public.