Tag: Wealth Inequality

Tax Flight Is a Myth

Tina Marie (Ms. Cat)

Tax Flight Is a Myth

Related:

Dispelling the Myth of Tax-Induced Capital Flight

A study by the American Sociological Association in 2016 found that while massive top rate tax hikes might cause some millionaires to move from their high-tax state to a low-tax state, the amount of them doing so for this reason was negligible. Millionaires moved for tax purposes around 2.2% of the time. Indeed, in any event the rate of inter-state migration generally was lower for millionaires, at 2.4%, than it was for the general population, at 2.9%.

Debunking the Myth of the Fleeing Millionaire

Strikes & protests in France (and demonstrations in the US)

Tina Marie (Ms. Cat)

Strikes grow as Macron postpones threat to crush French refinery strike

Related:

French left-wing parties gather protesters to march in Paris, as refinery strikes persist

The French call for NATO exit

MSM was all over the cost of living protests but nothing about the Anti-NATO protests. Videos have emerged of police repression in Paris (at which protest, I’m unsure). Meanwhile, in the US, the Poor People’s Campaign, and allies, held multiple demonstrations to get out the vote (which were mainly covered by local news).

What’s wrong with the USA?

Tina Marie (Ms. Cat)

China has been, variously described as a rising power, a sleeping dragon and a collapsing economy. Most of the rhetoric is driven from the US. Inside their government, both the Senate and Congress have anti-China hawks, their State Department seems to see a threat at every turning point and their military seems to believe that a defensive People’s liberation Army is a bad thing as it threatens US interests. Books reports and documentaries are created about mass dissatisfaction which extended academic research seems unable to identify.

What’s wrong with the USA? (archived)

Everyone pays the cost as the rich keep spending

Tina Marie (Ms. Cat)

Everyone pays the cost as the rich keep spending

Meanwhile, the Biden White House is doing what it can to buffer inflationary pain for working people. It has been releasing strategic petroleum reserves in a partly successful effort to lower prices at the pump, extending pandemic-era caps on some student loan payments and pushing for antitrust action in areas where corporate concentration (which has grown hand in hand with financialisation) may be responsible for some inflationary pressure.

But more changes are needed. The success of corporate lobbyists in overturning efforts to roll back carried interest loopholes are shameful. Student debt forgiveness — no matter how generous it is — will not change the fact that the cost of four years of private university in the US (an elastic cost that can be bid up indefinitely by the global rich) is nearly double the median family income. Housing markets continue to cry out for major reform.

I suspect it will take a younger generation to push through these sorts of systemic changes. They simply don’t have as much asset wealth to protect.

By endangering the petrodollar, Ukraine conflict brings multipolar world & U.S. revolution far closer

Tina Marie (Ms. Cat)

The U.S. empire’s social stability can no longer rely on buying off the workers within its own borders. When Che Guevara observed that international worker solidarity gets undermined by the proletarians in the core imperialist countries receiving special benefits compared to the proletarians in the exploited countries, he was right. But with the contraction of capital, and the consequential introduction of neoliberalism to keep capital afloat, this has changed. Every year, the masses within the United States face conditions that are more like the ones in the Global South. The global wealth gap is still the primary wealth gap in a macro sense, but this widening of the U.S. empire’s internal inequality represents a contradiction which can bring about the empire’s defeat from within. And therefore a major step towards eliminating the global gap.

By endangering the petrodollar, Ukraine conflict brings multipolar world & U.S. revolution far closer

America Is Headed for Class Warfare + More

Tina Marie (Ms. Cat)

Nothing has revealed the class divide in the U.S. quite like runaway inflation and skyrocketing gas prices. But in addition to the economic impact the staggering incompetence of the Biden administration is having on the working class, there is a political one; it’s undeniably driving working class voters even further from the Democrats and toward the GOP.

America Is Headed for Class Warfare

Related:

“Workers aren’t getting bailed out like the billionaires”: Detroit workers livid over surging gas prices

“It’s just really hard to live”: Chicago workers describe impact of surging food and gas prices

Revival of Class Politics in the U.S.…Will It Be Socialism or Fascism?

Tina Marie (Ms. Cat)

Revival of Class Politics in the U.S.…Will It Be Socialism or Fascism? by Finian Cunningham

America direly needs a unified socialist voice that connects the various movements like Black Lives Matter, Climate Extinction, the Feminist Movement, #MeToo and #Timesup, Labor rights, transsexual rights, socialist and communist parties and the movement to transform capitalist business and all other forms of organizations into cooperatives. They need a movement and a party that is against all arbitrary divisions between people. The movement and party should be an umbrella organization. The handle and stem represent class justice. The spokes and their multicolored fabric are all of the movements that are needed to create class, race, gender, and sexual justice for all.

‘Giveaway of Galactic Proportions’: Bezos Demands $10 Billion Taxpayer Gift for Vanity Space Project

Tina Marie (Ms. Cat)

Rather than waste $10 billion on a redundant space contract for Bezos, that money could be used to fund Social Security Disability, Medicare and Medicaid and the food stamps many of his own employees at Amazon and elsewhere have to rely on to make ends meet.

‘Giveaway of Galactic Proportions’: Bezos Demands $10 Billion Taxpayer Gift for Vanity Space Project

H/T: The Free