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By Rachel Goldfarb, originally published on Next New Deal

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Raising Taxes on Corporations that Pay Their CEOs Royally and Treat Their Workers Like Serfs (Robert Reich)

Robert Reich explains a proposed bill in California that would incentivize lower executive pay by tying corporate tax rates to the ratio of CEO pay to typical workers' pay.

Justice Stevens Suggests Solution for ‘Giant Step in the Wrong Direction’ (NYT)

Adam Liptak speaks with retired Supreme Court Justice John Paul Stevens, who is calling for a constitutional amendment to overturn Citizens United and allow reasonable limits on campaign finance.

  • Roosevelt Take: Roosevelt Institute | Campus Network Student Board of Advisors Chair Jeff Raines explains why McCutcheon v. FEC makes big money's power over politics even worse.

A Chance to Remake the Fed (TAP)

With two open slots on the Federal Reserve, David Dayen suggests that progressives should support regulators who will serve as Main Street's voice on monetary policy.

Union Will Keep Fighting To Organize Volkswagen Workers (ThinkProgress)

While the United Auto Workers have dropped their appeal of the recent failed union election in Chattanooga, TN, Bryce Covert reports that the union plans to continue organizing at that Volkswagen plant.

UConn Graduate Assistants First To Unionize In State (Hartford Courant)

Kathleen Megan reports that the graduate assistants will be represented by the Graduate Employee Union/United Auto Workers. Graduate assistants have organized on over 60 campuses across the country.

‘Jobs vs. the Environment’: How to Counter This Divisive Big Lie (The Nation)

Jeremy Brecher argues that a "Green New Deal" could put people to work rebuilding the country's infrastructure to protect the environment, ending the supposed conflict between environmental movements and labor.

Not Born Rich? Out of Luck (MSNBC)

Chris Hayes interviews Thomas Piketty about his new book, Capital in the 21st Century, and the trends that have led to rising concentration of wealth in the United States and around the world.

Originally posted to Daily Kos Economics on Tue Apr 22, 2014 at 05:06 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Yes But We Almost Completely Solved This Pay Gap (2+ / 0-)
    Recommended by:
    Joe Jackson, jwinIL14

    issue once before. It shouldn't be approached piecemeal.

    Just restore proper steep progressive taxation all across the board, regardless of sector or occupation. Nobody needs to take home half a billion dollars and it doesn't matter whether they're a CEO, quarterback or tech guru.

    And it has to be accompanied by significant business income taxes to remove the incentives for business to build up the big piles of cash we see business holding out from both employment and upgrade investments.

    One of the countless benefits of this is that it prevents potentially high-return sectors like finance and import from coming to dominate the attraction for the talent pool and for investment, allowing a more healthy all - around economy to flourish with a great variety of "merely profitable" enterprises.

    And it allows employment in philanthropic, charitable and public sector work to compete better for talent, since there's no bonanza sector where a person could make their family aristocrats for life after just a few months' work.

    There's definitely a place for sector or occupation specific regulations but the basic wealth and income gap mostly is not it, the issues are the same everywhere.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Tue Apr 22, 2014 at 05:44:34 AM PDT

  •  My ass will be in Hawaii second I hear serfs up. (0+ / 0-)

    The spice must flow, or sprinkled.if doing rub.

    by jwinIL14 on Tue Apr 22, 2014 at 08:21:14 PM PDT

  •  Why Econ is not a science (0+ / 0-)

    A quick look around the web finds hand-waving "proofs" popping up that Picketty's r>g thesis is wrong because "in the long run" r=g.

    This is what distinguishes Econ from natural science. Toy mathematical models are offered as "proof" that Picketty's view, based on his amassed observational data from 300 years, is wrong. Economists still haven't grasped the relationship between observation and theory in science.

    American Presidents: 43 men, 0 women. Ready for Hillary

    by atana on Tue Apr 22, 2014 at 09:18:14 PM PDT

  •  estate tax to promote meritocracy, and SS tax (1+ / 0-)
    Recommended by:

    To remove complaints that estate tax is double taxation, we should levy tax on recipients. I propose an inheritance tax of 65% on any valuation received above $5Million. If a billionaire hated taxes, and/or his country so much that he can't handle funding same, then he could give 200 entities (I still exclude legit non-profits, charities, etc.) $5M apiece, all without any taxation. But to channel more than that to one recipient would cost at 2:1 rate - it would cost $3m to give another $1M to one entity.
    These huge accumulations of capital need dispersion to promote a meritocracy and hinder aristocracy. The dispersion also is greatly stimulative for our economy.
    As for SS, we should run the tax all the way up, tax all and every income. An exemption on the first $15-$20K of income would be helpful to those who need it most, and very stimulative. Those below tax rate earn a min pay-in status. Taxing all income would probably allow actual rate to be lowered, ot benefits increased, or both,

  •  Don't know about the focus on CEO pay (0+ / 0-)

    Seems more like a symptom than a root cause. Besides, the last time the law tried to collect more taxes from CEOs, we got Enron and stock-pumping and supposed performance pay.

    The real thing we should be doing is asking a simple question:

    What things can the government do to facilitate an environment where more and more companies -- especially brand spanking new ones -- can make nice profits while paying American workers good wages?

    If taxing CEOs does that, fine.  But, if I had my druthers, I would much rather see inequality fade because the bottom is rising than the top is sinking.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Wed Apr 23, 2014 at 12:40:57 AM PDT

  •  MSNBC hacked? Piketty interview inaccessible (0+ / 0-)

    I have tried multiple times from multiple directions to access Chris Hayes' interview with economist Thos Piketty about his new book, Capital in the 21st Century, and every time the site software inexplicably "jumps" away from the video as it's about to load to something completely different. Is it possible that someone has been able to hack the site so the interview can't be viewed? Am I being paranoid about this or??

    I Refuse to Believe Corporations Are People Until Texas Executes One

    by desert rain on Wed Apr 23, 2014 at 03:49:32 PM PDT

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