Truthout
Economy
“Tax the Rich:” 10 Billionaires Added $402 Billion to Their Fortunes in 2021
Amid a public health emergency and economic crisis, billionaires saw staggering growth in their wealth.
“Localization” Can Help Free the Planet From Neoliberal Globalization
Localization offers the means to return to a real and stable economy not based on speculation, exploitation and debt.
Elon Musk Brags About Owing Small Fraction of His $280B in Taxes
The bill was incurred by transactions made over the past months in which he’s sold about $16 billion in stock so far.
States Are Hoarding $5.2 Billion in Welfare Funds While Denying More People Aid
A 1996 welfare reform law gave states the freedom to stockpile federal funding for aid to the poor, year after year.
Businesses Have Manufactured Inflation Fear to Protect Profits Amid Rising Wages
Workers don’t set prices, bosses do. And they do so on the basis of maintaining the greatest possible profit margins.
Warren Slams Grocers for Raising Prices While Raking In Profits
“Behind the scenes, grocery chains have reassured investors that only consumers would be hurt,” Warren wrote.
2021 Saw Gaps in Racial and Economic Inequality Widen. But There’s Still Hope.
These 11 charts highlight major inequality developments of the year.
Only a Quarter of the $9 Billion HUD Got to Combat COVID Impacts Has Been Spent
Cities and states have been overwhelmed by capacity issues and focused on spending other funding with tighter deadlines.
Not Just Billionaires — the Average Rich Person’s Pay Has Risen During COVID
Wages grew much faster for top earners than they did for everyone else in 2020, reflecting a 40-year trend.
“Your Debt Is Someone Else’s Asset”: Calls Grow to Keep Student Loan Moratorium
The $15 trillion in U.S. household debt is a form of wealth transfer from the poor to the rich.