When will we stop blaming the poor and lauding the rich? The top of the socioeconomic ladder takes far more in welfare from the government than those at the bottom.
We give welfare to corporations with seeming glee and abandon, but that’s only when the Public actually knows about it. Most companies and governments go to lengths to hide the deals they make for “economic development” from public information requests.
This seems like fraud to the staff at NobodyisFlyingthePlane.
We can’t escape the corporate grip on our government until we force government to be transparent in the deals they make.
Democracy dies in darkness
Do Taxpayers Know They Are Handing Out Billions to Corporations? https://nyti.ms/2HnuN8H
Not the guy we usually go to for economic advice, but…
I’d love to see a tax code that rewarded investment and discouraged consumption. That would mean cutting taxes on earnings but raising revenue through a progressive consumption tax. I’d love to see a tax code that punished pollution but encouraged social cohesion. That would mean taxing carbon but increasing tax credits for working people and families with children.
The Clash of Social Visions https://nyti.ms/2hMQEr9
It seems the be the enduring economic argument of our times. Are companies more important than people?
Our politicians know the answer. Corporations pay them lots. People don’t. When will we seek a government for the people not a government for profiteers?
In 2010, the Consumer Financial Protection Bureau, which I direct, was authorized to study mandatory arbitration and write rules consistent with the study. After five years of work, we recently finalized a rule to stop companies from denying groups of consumers the option of going to court when they are treated unfairly.
Opponents have unleashed attacks to overturn the rule, and the House just passed legislation to that end. Before the Senate decides whether to protect companies or consumers, it’s worth correcting the record.
First, opponents claim that plaintiffs are better served by acting individually than by joining a group lawsuit. This claim is not supported by facts or common sense. Our study contained revealing data on the results of group lawsuits and individual actions. We found that group lawsuits get more money back to more people. In five years of group lawsuits, we tallied an average of $220 million paid to 6.8 million consumers per year. Yet in the arbitration cases we studied, on average, 16 people per year recovered less than $100,000 total.
Not only do group lawsuits help consumers recover money they otherwise would forfeit, but they also protect many more consumers by halting and deterring harmful behavior. For example, when banks reordered bank debits to charge more overdraft fees, consumers sued and recovered $1 billion. Most banks have since stopped the practice.
Let Consumers Sue Companies https://nyti.ms/2vjWRyP
If we want to set smart goals for improving climate change outcomes we need to incentivize adoption of electric vehicles. There is no barrier to adoption in this article that couldn’t be overcome with smart incentives. No new tech needed. Winners: all of humanity! Losers: energy companies too slow to adapt.
The International Energy Agency has estimated that electric vehicles would have to account for at least 40 percent of passenger vehicle sales by 2040 for the world to have a chance of meeting the climate goals outlined in the Paris agreement, keeping total global warming below 2 degrees Celsius.
When Will Electric Cars Go Mainstream? It May Be Sooner Than You Think https://www.nytimes.com/2017/07/08/climate/electric-cars-batteries.html
Going backward by reducing regulation of the financial industry will not help citizens.
The calls for deregulation come from greedy businessmen who put their interest and personal profit ahead of what’s best for the citizens of our country.
On top of that they are too lazy to seek business solutions which drive profit while keeping the financial system safe. There are ways to have both, but it takes more effort.
The real issue is do we have meritocracy or a kleptocracy?
Yellen Warns Against Erasing Regulations Made After Financial Crisis https://nyti.ms/2w45pxm
Drafting bills like the new healthcare bill in secret mean two things. Republicans know it’s wrong and they wish to obscure the involvement of special interests.
As they draft legislation to repeal the Affordable Care Act, Senate Republican leaders are aiming to transform large sections of the American health care system without a single hearing on their bill and without a formal, open drafting session.
That has created an air of distrust and concern — on and off Capitol Hill, with Democrats but also with Republicans.
Secrecy Surrounding Senate Health Bill Raises Alarms in Both Parties https://nyti.ms/2trgrbM