billionaires

Biden budget asks for 25% tax on billionaires, boosts in domestic and defense spending

BY: - March 9, 2023

WASHINGTON — President Joe Biden said Thursday he’s ready to meet with U.S. House Speaker Kevin McCarthy to hash out federal spending as soon as House Republicans release their budget, a challenging task without a firm deadline.  “I’m ready to meet with the speaker anytime, tomorrow if he has his budget,” Biden said during a […]

Biden tangles with Florida GOP Sen. Rick Scott: ‘I think the man has a problem’

BY: - May 11, 2022

WASHINGTON — President Joe Biden pledged Tuesday to make a fight against inflation his top domestic priority while rebuking Republican economic proposals he said miss the mark — zeroing in on Florida GOP Sen. Rick Scott. The president’s remarks at the White House came after Scott earlier in the day called on Biden to resign […]

COMMENTARY

Durham businessman: Let’s make billionaires pay taxes the way the rest of us do

BY: - April 20, 2022

Rising inflation and the escalating cost of everything from gas to houses made Tax Day 2022 even more significant for many Americans this year. Rising economic anxiety collided with middle class tax bills as families worried about the future and made plans to tighten their belts. The nation’s 700 billionaires face no such worries, however. […]

COMMENTARY

Weekend humor from Celia Rivenbark: A peculiar pick for person of the year

BY: - January 1, 2022

So, “Time” magazine’s Person of the Year is Elon Musk. I’m sure we’re all wondering the same thing: Were the Sacklers not available? No, no. What I meant to say was thoughts and prayers to Jeff Bezos who is probably curled up in the fetal position on the bathroom floor of one of his many […]

COMMENTARY

Eliminating corporate income taxes will make billionaires richer, hurt NC

BY: - December 8, 2021

When North Carolina legislators had a chance to address the rapidly increasing economic inequality of the past 30 years, they ignored the needs of workers and the state and instead passed harmful tax cuts. Instead of supporting low-income households or making sure large corporations pay what they owe, the 2021-2023 budget slashes the corporate income […]

Monday numbers: A closer look at the rapid and stunning growth of the super-rich

BY: - November 15, 2021

While the COVID-19 pandemic and the economic recession it spawned have taken a huge toll on low and middle-income people across the globe, most members of the very exclusive club frequently referred to as the “super-rich” have been doing just fine, thank you. In fact, a recent report prepared by veteran policy analyst Chuck Collins of the Institute for Policy Studies for the website Inequality.org, put it this way...

COMMENTARY

Weekend humor from Celia Rivenbark: A modest proposal for the world’s rapacious billionaires

BY: - October 30, 2021

I have a modest proposal for how to deal with the tax cheats named  in the “Pandora Papers” — that jaw-dropping global investigation into the bank accounts of some of the world’s richest people. Journalists in 117 countries spent years examining more than 12 million documents and discovered what we have long suspected: Journalists almost […]

COMMENTARY

Billionaires slipped the surly bonds of Earth, but couldn’t escape its problems

BY: - July 24, 2021

If Bezos and co. wanted to “[touch] the face of God,” they could have kept themselves and their billions on solid ground, and devoted it to Her creation on Earth. Billionaire space cowboys Jeff Bezos and Richard Branson have rightfully been taking some flack for sub-orbital jaunts earlier this month that garnered plenty of headlines but little in the […]

COMMENTARY

Weekend humor from Celia Rivenbark: We may never know cause of Gates divorce…and I’m OK with that

BY: - May 22, 2021

It’s always sad when a multibillionaire’s marriage breaks up. Not because the marriage failed, although, yeah, whatever, but because the super-rich are so well-insulated there’s very little chance we’ll ever know the true story of what went wrong. In the case of “Billinda” as I like to call Bill and Melinda Gates, I’m pretty sure […]

COMMENTARY

Some simple truths about the taxes corporations pay and Biden’s proposal blow the whistle on them

BY: - April 14, 2021

[Editor’s note: The following essay was written by former New York Times Washington, DC bureau chief, frequent NC Policy Watch contributor and all-around legendary journalist, Hedrick Smith. It originally appeared on Smith’s own website, Reclaim the American Dream.] WASHINGTON – Okay, let’s talk turkey about taxes and their implication for U.S. economic growth and inequality. […]

COMMENTARY

Pandemic profiteers: Report highlights stunning recent wealth growth of U.S. billionaires

BY: - January 27, 2021

A new report from analysts at the Institute for Policy Studies finds that the collective financial gain of 660 billionaires during the COVID crisis could pay for all of the working family relief in President Joe Biden’s coronavirus response plan. Here are some excerpts: The combined fortune of the nation’s 660 billionaires as of Monday, […]

Billionaires are getting even richer during COVID-19

BY: - December 9, 2020

Many corporate titans have profited handsomely from the COVID-19 pandemic. Even while the death count rises, millions of American families struggle to make ends meet, and main street businesses shutter, some of the biggest companies in our country have recorded record profits. Corporate windfalls from this catastrophe have further concentrated wealth in a few hands […]