18 Burst results for "Chuck Collins"
"chuck collins" Discussed on KCRW
"The world, and since then, his wealth has only grown it past $200 billion earlier this year. Before falling back a bit. It is bigger than the GDP of most countries in the world. Devon Pendleton works on the Bloomberg billionaire Index, which tracks the holdings of the uber wealthy. She says Bezos is so rich that like mosque, he has his own rocket company, which may be the ultimate toy for rich guys, Pendleton says. Nothing seems to keep Bezos is wealth down. He had to give about a third of his Amazon stake to his ex wife in the divorce, and yet still he is worth a zit. Today, he's worth 100, almost 100 and $88 billion in 2017 basis, became the world's first sent a billionaire. Which means his worth top. The $100 billion. Now there are five. Besides musk. The others are Facebook founder Mark Zuckerberg, the French luxury goods tycoon Bernard Arnault. Bill Gates of Microsoft. Chuck Collins of the Left wing Think tank. The Institute for Policy Studies, says Gates remains a cent a billionaire despite his own best efforts. He can't give it away fast enough. He he jokes about that himself. You know, he's had 118 billion He's pledged to give away half of it, and he's barely keeping up with the growth and wealth. There's no mystery about why men like Gates, Bezos and Zuckerberg had grown so rich, says Devin Pendleton, and that's largely because of just EADS. The stock price is going up and up and up, especially intact, where most of these sent a billionaire's made their fortunes. With everyone stuck at home. This year, people have been spending a lot of time on Amazon and Facebook. So when other stocks were plummeting last spring and summer, tech stocks were going gangbusters. Chuck Collins of the Institute for Policy Studies, says the rise of the center billionaire has exacerbated the almost unprecedented disparities of wealth in the United States. It's not anything to celebrate. It's kind of a disturbing milestone, even in a year when the global economy has flatlined and millions of people have been thrown out of work, Collins.
Coronavirus: How have billionaires done during COVID-19?
"We should point out. I that billionaires always take a hit during any economic downturn billionaire wealth during the great recession went down dislike everyone else's economic prospects and it took two and a half years for the four hundred billionaires to recover the wealth collectively that they had in two, thousand, seven two and a half years of recovery Chuck Collins expected to see that kind of trajectory when he began analyzing billionaire wealth during the pandemic so. I was sort of expecting US billionaires. We're going to take a hit just like the rest of society and they did for a little while in February, but then this other dynamic in which was kind of surging wealth can you give us some of the names who were the the Big Lake? So to speak, well, you know some of them have seen their wealth surge faster than others Elon musk wealth has tripled from twenty, seven, billion to ninety billion. Jeff bezos wealth is up seventy, two billion. since the beginning of. The year.
"chuck collins" Discussed on KQED Radio
"Needed relieve to our nation's families, workers and businesses. Less obvious was the way the cares Act also benefited some of the richest Americans. Says William Gale of the Tax Policy Center. The benefits that went to high income households were a little more complex or convoluted and certainly less easy to see. But they were also on a per capita basis. They were huge tucked into the bill or a Siri's of provisions that mostly cut taxes for rich people. For example, they can now reduced their tax bills by claiming bigger losses from previous years, even though the losses they suffered had nothing to do with Cove in 19 the Joint Committee on Taxation says that provisional alone will provide an average tax cut of $1.6 million for people in the top income bracket. That includes a lot of people in the real estate business. Like the Trump family. Democratic Senator Sheldon Whitehouse of Rhode Island wants to reverse the change. It's just totally I mean, unseemly is such a mild word. It's disgusting. A much bigger reason for the resurgence and wealth is the historic stock market rebound. A small group of favored Tech stocks are actually trading higher than before the pandemic. Take Tesla. It's quirky CEO Elon Musk argues that people like him people who become rich by building companies are actually good for the economy. He spoke on the podcast The Joe Rogan experience, so we will have this absurd. View that the economy is like some magic horn of plenty. Let me just break it, Teo, the fools out there. If you don't make stuff, there's no stuff and making stuff has been really good for musk. His own wealth has more than doubled this year to $51 billion. Chuck Collins says these outsized gains and wealth by a lucky few during a deep recession on Ly underscore the vast disparities of wealth in the country. It shows that there's some kind of deep, unequal sacrifice that No. Some people are doing so well when others are struggling so much, and Collins says that can only undercut the sense of unity and solidarity the country will need if it's going to get through the pandemic. Jims AA Roly NPR NEWS. This is NPR news. And this is Edie. Public Radio in the British government has announced a.
"chuck collins" Discussed on Tiny Spark
"Welcome to tiny spark podcast of a nonprofit quarterly. We take a close, look at philanthropy, nonprofits and international aid. Emmy custody. Many working within this space are faced every day with the effects of growing economic inequality in this country. Nearly forty million people live in poverty, and it's harder than ever to move into the middle class. And that's a story that we're pretty familiar with. But today we're going to learn more about the racial dimensions of this growing wealth, gap and Dietrich Asante Muhammad says that gap was created by design. This is not a gap. It just happened by you know by accident. It was an intentional policy driven situation, that maintains the racial divides, we have in this country, whether it's housing income wealth employment. Asante Mohammed helps lead the national community. Reinvestment coalition a nonprofit working against discrimination. He says, over the years, many people of color fell behind because of discriminatory policies in realms, like banking housing, and education, while, other Americans prospered from those very same policies, we oftentimes don't even understand. I our own history as a nation, and this idea that even the American middle class in America being a middle-class economy is not something that has always been true. It is something that was developed thirties forties. Fifties through mass investments, government policies and created a white American middle class. And we see the effects of that today in two thousand seventeen the US census notes that the median household income was around seventeen thousand dollars for blacks and Hispanics, whites on the other hand, were much better off their median was one hundred thousand dollars on top of this racial economic divide. We have the growing class of elite, the handful of Americans who. Now owned an increasing share of the nation's wealth. It's a group that Chuck Collins spent a lot of time. Thinking about as director of a program on inequality and the common good at the institute for policy. Studies Collins and Asante Muhammad helped write a new report aimed at addressing the racial wealth divide. And when Collins looks at the power now wielded by the nation's elite. He's reminded of the words once uttered by a former supreme court Justice, Louis Brandeis a century ago said you can have concentrated wealth, in the hands of a few or you can have democracy, but you can't have both. And we can sort of see concentrated wealth is a form of power. It's both the power to influence the democratic process, you know, campaign contributions, and what laws actually pass or don't pass. It's the power to shape the culture through media ownership and Phil. Through more and more something, you talk a lot about Amy but philanthropies becoming more and more, top heavy and philanthropy is an extension of private power. So those are always in which wealth, begets, influence, and really the ability to shape, the rules that govern the economy and let me add that to also works the other way that economic insecurity, also leads to less power less influence, not even that you can't donate the same amount of money. But if you're working two jobs, and you're an Uber driver, some other part time gig. You don't have much time to be politically engaged politically involved. You know, seen a massive declines of unions, which was organized space, if people could be more engaged in the political realm. So again, you know, there's been more economic insecurity. Not just for the poor but for middle income people, which I think, has also left them more and more out of the political process, because you don't have this ability to fully engage Asante Mohammed, and Collins. Pose some remedies in their paper entitled ten solutions to bridge, the racial wealth divide, which was released by Collins's institute for policy studies. They say the solutions, they proposed are designed to strike at the structural underpinnings that have exacerbated the racial wealth divide over the years. In fact, when Collins who is white looks at those structures and policies. He sees how his own family got on the track to wealth accumulation in the form of a subsidized mortgage. They received after World War Two, I had who bought his farm outside lime Ohio with a one percent forty year fixed rate, farmers home loan. That was an incredible lift, and he was able to help his children and grandchildren. Get on the, the wealth-building train, if you will. But because of the racial exclusion, people color were not getting access to those mortgages similarly after. World war. Two GI Bill for education returning, lack GI's and others. To Jim crow education system did not have the same opportunities to take advantage of free college benefit. There were loans for small businesses, essentially IRA cats Nelson called that, that you're of white, affirmative action. We encouraged tens of millions of white families to get on the wealth-building express train, and then excluded people of color from getting on that wealth-building train. And that's why we sort of have the thirty percent home ownership gap that we have today, you know, white homeownership rates are seventy plus percent and black home ownership is close at forty percent. And there were those inequalities that existed before, but this sort of lock them in for generations really into add to that. I think you know what's important to notice a lot of the policies took you say the forties, fifties as well. They might not have been like white only polish. But because you had a legally segregated society. They defacto worldwide only. I mean blacks weren't allowed to go to white colleges as bug is coming back. They had a very small amount of colleges to go to those war by colleges, blacks couldn't move into the suburbs that were being created through government investment blacks of had twice Pullman rate of whites for the last fifty years. Yeah. I mean in listening to you both describe the historic injustices that underpin our economy today, and then reading through your ten solutions. I'm struck by how these policies and the reality for people of this in of color in this country continue to be so abysmal, and I wanna just take one of your proposals is around the minimum wage, and your report notes that the current federal minimum wage is lower than the cost of living in every city in the country. Which. I did find that shocking. I, I have to say and maybe I'm living in a bubble and I probably am. But you know what is this alone mean for people kind of in real terms per all those millions of Americans who are earning minimum wage in cities, across the nation. What is life like for them? Well, it just means people are working more hours. They're more members of the family who are working. It's creating stress and being constantly stretched. And many of the lowest wage workers are people who are working at food service, and restaurants and retail and hospitals. They're caring for elderly and sick and caring for children. So they're often in caring roles, but they're juggling the tension of long commutes, low wages inadequate food security. So it's a huge undercurrent in US society of the number of people who are just trying to survive on low wages. And if the minimum wage, you know, the minimum wage, that was created coming out of the depression, if it had stayed at the same level of its buying power from the mid sixties, you know, it would be closer to twenty. Five dollars an hour today. But Ford that this has been an issue that civil rights activists have recognized for a long time. There was a famous freedom budget in nineteen sixty seven I believe Dr king signed, Dolan or urban league. It's I had signed onto it. And one of their policy recommendations was to move in. What would be in today's dollars minimum wage about fourteen dollars an hour? So it's kind of fascinating to me because there's such a big movement around fifteen dollars an hour minimum wage. This is being proposed in nineteen sixty seven and we see how poor it is today. And I think one other thing to add Chuck subscription of what it means to be working minimum wage. I mean, really it means that you're doing what the classic hard working middle class Americans supposed to be doing working hard every day, you know, taking extra hours, but you're living in poverty, and have complete financial insecurity. So you doing what you're supposed to do, but you're not getting the rewards that we have always painted goes with working hard in this country. And so with. To wage. What do you propose? What would you like to see how we didn't nail down a particular number? I think we all think that the fifteen dollar minimum wage movement has been helpful. But I think we wanted to not tied down to one particular number, but recognize that it costs more to live in some places fifteen dollars. Minimum wage, do very well in some towns. But again, I think it's also important that we need a living wage with guaranteed employment. We need full employment right now. There's a lot of conversation about how low the unemployment rate is. And how good that isn't. It's true. But, you know, African Americans still unemployment rate a little over six percent. That would be considered recessionary if that was the national unemployment rate, white Americans, I think have unemployment rate around three percent, and many communists said, four percent is full employment. So somehow, white Americans beyond full employment. So I think we need to create some system that and again, this has been done in the past in the nineteen forties, where you had different job programs work. Grams help build America's infrastructure that was creating defacto, full employment and clearly our infrastructure is a need of being rebuilt. And so I think this is the opportunity to take on people want to do work who have not been finding sustainable wages and create full employment that can do public good. And then two by doing that work. We'll even be more quipped to get jobs in the private market, and Chuck Collins, just very briefly, what would guaranteed employment look like what does that actually mean one aspect of it would be government employment as a last resort, if people can't find decent work in the private market, that we would have public sector, jobs, or think of the works project administration or the conservation corps during the depression. It created a floor, not only of decent work, but also dignified work work that mattered work that contributed to the society as a whole. That's one. Vision of guarantee job. And now we're gonna take just a short break to hear a little bit more about the nonprofit quarterly, if you enjoy listening to a podcast and I looking.
"chuck collins" Discussed on Radio Free Nashville
"In the book on the origins. Of totalitarianism. is the Tom Hartman program. Welcome back Thom Hartmann here with you. And our previous hour. We were talking about how the the vote is that been essentially rigged by Republicans using the help America vote act in a way, that's actually illegal. I over the weekend. I I called Bob ney he was in in in in India, and we had a long conversation about this. He's the principal author of the of the act. It was him and standing higher who put together the help America vote act of two thousand and two. And you know, he's he said that in the two thousand four election, Ken Blackwell was doing this kind of stuff purging people and not giving them a provisional ballots not counting provisional ballots, and he confronted him about it because he'd Bob represented Ohio in congress. And he said Ken Blackwell got really upset with him really angry with it, but refused to change his behavior. And so in that election, John Kerry lost the presidency to George W Bush because of Ohio, and I would say because of Ken Blackwell in Ohio. I don't know the Bob ney would say that us as early, but he was very upset. And he was a Republican congressman. And he was very upset that this kind of stuff was being done. So the, but but I wanted to talk about economics. Also, we were asking the question who who would you like to see running for president? Joe by there was just a polled on politico. And if so so I believe it was just did a poll nationwide poll, and what they found was that the top two candidates and they're within spitting distance of each other in the twenties in the twenty percent range in terms of support. The top two candidates were Joe Biden and Bernie Sanders and the number three candidate. And this is about very different thing from just three weeks ago when everybody was talking about the number three candidate was Elizabeth Warren or camel, heroes, or or, you know, whoever it may be. There's there's a, you know, a bunch of Cory Booker other other great candidates out there. Number three, Canada right now is better O'Rourke, the three term congressman from Texas who just ran who just ran against Ted Cruz in in another rigged election in Texas. I mean, you know, there's all these impediments devoting if you're in a community of color, if you're in a poor community if you are elderly if you are a student. It's just it's the Texas suppresses the vote like nobody's business. And so anyhow, I was asking what do you think, you know, I my personal opinion, and I've never met that all work, and I've never been in person at one of his events. I've only watched them on television. But my personal take is that this guy is this generation's, Bobby Kennedy. And and you know, what Bobby Kennedy could have become Bobby Kennedy had been assassinated. He would definitely have become president United States. There was just no doubt in anybody's mind. And and. Instead, we got Richard Nixon. So. Well, you know, what do you think who do, you know, what do you think about all of that? But I wanted to get into economics in this hour because I think that this is this is really really important stuff. Chuck Collins who is with the institute for policy studies. He said these families he's talking about the we're not talking about the real. We're not talking about millionaires. Multimillionaires? We're not talking about the guy who lives down the street from you or on the edge of your neighborhood in a million or two million dollar house. We're talking billionaires here. We're talking people who don't fly in commercial aircraft who don't do. Don't drive their own cars who never go shopping who have live in you know, butlers and staff and everything. Who live in a very different world from the rest of us, even a different world from the more affluent among us and. This study Chuck Chuck Collins who wrote a book with Bill Gates senior Bill Gates, dad about how important it is to have a wealth tax or an inheritance tax rather the so-called Frank Luntz renamed it after he has efforts were well funded by the Walton family as the so-called death tax. He wrote these families have used their wealth and power lobbying rig the rules to expand their wealth and power, which is by the way, exactly what vice president Henry Wallace warned us about in that editorial that he wrote or the op Ed that he wrote for the New York Times back in nineteen forty four. He said this is the greatest danger to America is that they will use their money to acquire political power. And then using that political power. They will keep the the average working person in eternal subjection, the that was the phrase that the vice president Henry Wallace used so right now, according to the P S the the institute for policy studies, these dynastic families in the United States. That's a relatively small number of people. I mean, they're they're looking at maybe a hundred families or thereabouts. They're talking about fifteen wealthiest families. Well, I'll get to that that these these wealth dynasties. Just three actually just three wealth. Dynasties the coke family. The Walton family and the Mars family of the Mars candy empire. Those three wealth dynasties own a combined thirty four three hundred and forty eight billion dollars in wealth. That's four million times the median wealth of the average American family four million times more. I mean, it's it gets you back to teddy Kennedy's quote. You know, when does the green stop where are where does the greed stop? Collectively if you just look at the fifteen wealthiest families on the Forbes four hundred list, they're worth six hundred eighteen billion dollars. But, you know, collectively in America, we're we're we're talking in trillions of dollars that are owed that are owned by just a very very small handful of families. So Robert rice steps into this fray in an op Ed that was published per presumably, a Robert Reich dot com is the version. I saw was over common. Dreams dot org. Titled with GOP wants more running the economy into the ground is time to start worrying about the next crash. Why rush was Bill Clinton's labor secretary? I mean, he is. That's kind of the definition of the establishment. Right. Somebody who's who was a cabinet member at a president's administration. And you know, he was outspoken, but not in a way that made you think he was wrong or nuts or grandstanding or any of that kind of stuff. He knows his stuff. He's an economist. He's a professor of economics. And he points out that the that there are two that there's basically one factor, which drives a second factor, which leads to crashes. And that has to do with something called aggregate, demand aggregate demand is the ability of working people the the ability of the bottom ninety percent to buy things. Do they have enough money to buy things or are they having to spend all their money on housing, and healthcare and transportation and food. And if that's the situation they've got no money leftover to to to buy toys or books or a new computers or anything. And that's more than half America of America. Right now is is living paycheck to paycheck and can't deal with a thousand dollar expense. Forty percent of America can't even deal with a four hundred dollar expense. So when people get in this position, they stopped buying things or they're buying slows down. Typically, it continues they try to maintain their lifestyle for a while using credit, but you know, the average credit card debt in the United States now per person is is over twenty thousand dollars per family is over seventy thousand dollars, which is shocking. And so any Robert Reich points out that? The thing that causes this is that all that money that working people could be using to pay to buy things. You know, like when I was growing up my kid. My dad when I was a kid by dad worked in a tool dye. Shop and Lansing Michigan and had a good union job with a pension and get good pay and the good benefits and all that kind of stuff. And you know, he would take us out to the movies, and he would buy toys at Christmas. And you know, we we never really wanted for clothing and things and and this is after a couple of years where he was working as a door to door Rex vacuum cleaner salesman and a door to door world. Book encyclopedia salesman where we were living on surplus food from macaroni and cheese and powdered milk from the from the surplus store have we called it the, you know from government handouts, basically. But once he got that good job he could buy things, and and he represented the majority of American workers at that time. Well, over two thirds of American workers because about a third of American workers are unionized and that sets the floor for wages. Another third of Americans had basically the same benefits and that giant middle class spent an enormous amount of money. And that's what got the economy is strong as it was when Reagan walked in one thousand nine hundred one and started taking it apart. And now here we are forty years out more or less, and we're seeing the fruit of Reagan's efforts. We are still living in an era of Reaganomics. The top tax rate is still below fifty percent and corporate taxes, which accounted for fully a third of all government income during the Eisenhower administration now account for six percent of government income. So, you know, the rich have gotten richer, and it actually at some level is a zero sum game because they've gotten richer by keeping the poor poorer by keeping wages down by by being the people who own the health insurance companies and all the pharmaceutical companies and letting those prices rise, so..
"chuck collins" Discussed on WPRO 630AM
"Wednesday february twenty eight twenty eight t well there that's it that's it for february no let's go to our normally sleepy situated within the news councilman nick is he wasn't a cumberland farms minding his own business all of a sudden this guy chuck collins as bad blood between these two over a bunch of different things this guy collins goes in with a cell phone rolling and he finds a consummate his ah you know minding his own business buying dog food over his wherever he's doing a couple of farms and common starts to interview with sixty minutes hey why did you do this hey why did you do that is he turns rosser what are you what is what is it will you out of your mind this is how it went with the very arolla the video that would you like to give a statement earn why you gave your reply do you want to get a statement on why hide you're cousin and gave him a job done recuse herself because we're the best yeah does your statement now i came to you long time goes that'd be my family on you guys wouldn't do it so the home side we wanna know you just me come on our side but you assault of me i work working are you a thought to be unfair the year was this guy with the like the sixty minutes over there he walks of bothers a couple of foreign started dot with the phone raleigh why are you doing this of why did you do that the council militia what are you on your mind daddy shouldn't have used that word you are worried that's not nice that's a.
"chuck collins" Discussed on Black Agenda Radio
"Emma kratz and republicans when we understand the whole system has oligarchy characteristics and that were being distracted by some of the party politics games and i know of course that you say there are stirrings in the land with where is the party of the anti oligarchs well you know i mean i think it's in communities it's in the sits in outside the party formations think the black lives matter movement i think our revolution or some of the the at least the that that efforts at the wto and local levels to sometimes it's working inside the democratic party but having a caucus outside of that party and you know i think we we saw a number of candidates win seats in state legislatures and in city councils a couple of days ago that are a reflection of that under current so there's no outside formation that clearly unified everyone yet but you could start to see the the seeds of that that was chuck collins sub the institute for policy studies in washington the black is back coalition full social justice peace send reparations marched on the white house and held its national conference at howard university in washington the theme of the conference was the balance and the bullet elections war and peace in the era of donald trump among those who spoke at the conference was ever the a key lay canyon a 20yearold member of the african peoples socialist party who ran forth city council in saint petersburg florida on tidal.
"chuck collins" Discussed on The Bernie Sanders Show
"So we like recycling if you've got that kind of wealth you pay back the society that made it possible for you to have the opportunities you have and uh and there are still is the good news is there still a segment of people who understand that that what makes us different than a dictatorship or an oligarchy is wealthy people pay their fair share taxes and you know we know what happened after world war two we tax the wealthy at much higher levels of income and wealth and invested it in public goods debt free education uh it infrastructure first time homebuyer programs that launched a generation of the middle class it was targeted primarily to white house old us so left a lotta people behind but the basic idea of taxing wealth and high incomes and investing in public goods is still a good idea hasn't hasn't lost its currency in my mind well chuckle running out of time but let me just pick up on a point you made a few moments ago i understand that tax and budget policy is not something that the meteors particularly entrusts the knin and i think you're right many americans will glaze their rise over it we should this is what this with republicans are tempted to do now both in their budget proposal and on the tax proposal amounts to nothing less than an incredibly massive transfer of wealth from working families making life much too for the children for the sick the elderly.
"chuck collins" Discussed on The Bernie Sanders Show
"Repeal the affordable care act and and make massive cuts to medicaid uh you don't give us uged tax breaks in a what we're gonna shut that spigot fuel campaigns so this takes us right back in my view to campaign finance and what you have right now is the vast majority in terms of the republican health care proposals seventy eighty percent of the american people said don't be ridiculous you can't throw thirty million people off health insurance ridiculous idea why would any politician go forward with an idea that was opposed by seventy eighty percent of the american people is only one answer and that is where the money comes from those guys like that and that's the same thing with as you go out and you ask people in any city in america hey we want to give incredible tax breaks 2 billion asked what we're going to cut medicare and medicaid and nutrition pershing think it's a good idea the american people overwhelmingly eighty ninety percent so you're yati a mine that's insane but there are a few people like the coq brothers and others say that's what we want you to do and we are providing hundreds of millions of dollars a year in campaign contributions and other ways to help you get reelected you listen to us begun about what the american people is for we'll take care that with 30second tv ads were we're in a period of kind of minority rule where they don't actually have to worry about that eighty percent because it gerrymandering because of the way in which campaignfinance system works they're just thinking about this narrow segment of donors.
"chuck collins" Discussed on The Bernie Sanders Show
"We just went through these disastrous sets of republican proposals on healthcare this one wants to cut continues let if it wants to throw fifteen million people off health insurance they have by cutting medicaid by a trillion dollars that are popular program populli d i don't think so it wants to cut pell grants at a time when so many young people are struggling right now to pay for college wants to cut attrition programs here's the important and maybe want to comment on it why would any sane person bring forward this set of proposals massive cuts to programs the elderly the children the sick and the poor need and then unbelievably large tax breaks 2 billion s why would you do that truck what's the answer well i think it it chose who they feel most accountable who do you feel most accountable to and in this case you have a congress it's pretty much locked up that's kind of connected to this kind of billionaire oligarchy agenda and this is their moment i mean if you think of again you fear republican you've been talking tax cuts now you have a majority in congress you have a president who will support this they are making the money grab of our lifetime well i would go was the further and and i agree with that but also say that you have quotes from people liked the coq brothers and they billionaire friends and they said hey republicans you don't get your act together a you don't end.
"chuck collins" Discussed on The Bernie Sanders Show
"We'll go to the top 1 percent and then accompanied with that in the republican budget will be a trillion dollar cut to medicaid a massive caught i think it's almost a half a trillion dollars to medicare significant cuts to education and pell grants cuts to programs like the whip program it's the program that provides nutrition programs to pregnant women an an and then new born babies the gonna be massive cuts to affordable housing cuts to all of the programs that working people need at the same time as we provide incredible tax breaks to the wealthiest people in this country that is the document i mean that's that that basically summarises it and uh i would say this is the show one of the biggest showdowns of our time i mean we just lived through this healthcare fight but if if even a portion of this tax plan goes through it will close the doors to the the public investments that we know we've already need to make and also in the future um if we care about reducing the cost to college and uh you know all the things that are telling months if you and and here's the interesting point to me you sit down and you say okay i'm a republican i wanna get reelected every the official does politics okay let me think about the issues that impact now if i propose the five hundred billion dollar cut the medicare's that good politics no it's terrible.
"chuck collins" Discussed on The Bernie Sanders Show
"People are paying their wealth managers to hide their money and and that and that's a huge challenge at were facing and then the republicans come up with their tax trump and the republicans a working hard on there uh tax plan in their budget want to say a few words on what you see in those well i you know i think that what i see is that the whole budget framework is around delivering tax cuts it's not about solving any of the major challenges in our country right now whether it's infrastructure and poverty it's they've created a budget framework that will allow them to wedge in in a several trillion dollars a tax cuts and and you can start to connect the dots now i mean a six hundred fifty billion dollar cuts in medicare aid trillion dollar cut and medicare the that sort of the framework that's that so if a budget is a moral document which is what martin luther king's to stay a budget is a moral document because it tells the world what you care about and what you value this budget is morally reprehensible so what we are looking at in this budget is about eighty percent of the benefits going to the top 1 percent in this tax plan in the excellent we don't have the fine points but that's the rough rough reality so at a time of mass of income and wealth inequality eighty percent of the tax benefits.
"chuck collins" Discussed on The Bernie Sanders Show
"The whole republican effort to repeal the asleep tax and to claim that it benefits family pharmacist is a total like that it benefits the top two tenths of one percent that it would give to the wealthiest family in this country the wolf and what a fifty billion dollar tax it something like that to the coq brothers the second wealthiest it's over thirty billion dollars now who pays for this campaign frank luntz doesn't work for free who in and our should metre frank luntz is a is a republican pollster and republican narrative greater refute uh who pays for the suffered what is when it comes you know there has been a effort for almost twenty years to abolish the estate tax and when we've research going back even a fifteen years ago who put the money up it was the mars family all gallo wind folks remember the mas let's let's let's candy was we all love run let's rate gallo wine his uh the walton's through their various lobbyists oh uh you know these folks pens a coke brought this of course her they spent millions to save them self billions um i think now it's kind of a pillar of the republican agenda to get rid of the death hack i just think it it you know they've been saying it for so long it sort of has to be added one thing that i would underscore though is that the very very rich i think more and more are using trusts and offshore tax havens and waste to hide their money and may you know uh have figured out ways to avoid paying substantial amounts of estate tax i mean sheldon adelson and others have used these grads grant her retained annuity trust there's this like these are complicated trusts to hide who benefits and who owns this wealth and so one of the things were up against both in measuring and understanding inequality but also trying to tax it portions of it is that you know among the superrich among the forty million an up households.
"chuck collins" Discussed on The Bernie Sanders Show
"Lower uh well phone as uh you're not going to pay a nickel on this is that right that's right and it's you know it's a hundred and one years we've had an state tax it was more robust in previous times it really did put a brake on the concentration of wealth and power when it was first put in place and through the depression down there that's an important point because it which pushed uh by republicans people liked teddy roosevelt we met with half is that correct that's writing either andrew carnegie testified in favor of an estate tax and the point you just made which is not widely discussed now it was not simply a progressive means of raising revenue it had another gold and they were roosevelt was pretty clear about it was breaking up the concentration of wealth my right absolutely in fact that was probably the primary the revenue was a secondary consideration it was really out of a sense of democracy remember lewis brand i said you can have concentrated wealth in the hands of a few or you can have democracy but you can't have both that was a hundred one years ago that was the mindset people saw these concentrations of wealth as putting at risk this fragile democratic selfgoverning experiment and today we are have more concentration of wealth than anytime suits but league ninety basically were in the second gilded age when we should be very alarmed about these concentrations of wealth and power and the how the estate tax and other progressive taxes have been weekend and here they are talking about getting rid of it i mean it would only compound orrick celebrate that concentration of wealth so the put the bottom line on them.
"chuck collins" Discussed on The Bernie Sanders Show
"You've written against repealing it uh what are the republican arguments wildly well they they have for years have tried to obscure who actually pays paciest are you let it was just small family farmers and work if you're i'll never forget this i walked down the street and main street in my hometown burlington skull church street some guys comes looked we spurning i'm really really angry you why you i well you know i've got literally whose role the guy is like a twenty thousand dollars in the bank can i want to leave that to my kids and you don't want to let me leave that to my kids i death taxes terrible that's what there are millions of americans who because of this republican i think frank luck's was leaderled that's right he called it the death tax they said look we can't really show who really benefits from repealing the estate tax because they're all the very wealthiest you know two out of a thousand richest people so we're gonna make farmers and ranchers and small business people the icons of the state tech's young you'll actually appreciate when uh when trump went to indiana to announce uh you know the repeal of the estate tax and his whole tax package he got a farmer to stamp uh that morning i woke up and i noticed oh kip tom is the farmer standing with with uh with with the president i look up tip co kept tom and his he's received three point three million dollars he's cashed usta farm subsidies in the last ten years he you know we the taxpayers are like equity partners in his farm and he's up they're complaining about taxes you know the reality is they have not been able to find a farmer who actually lost their firm because of the estate tax so who does benefit well the repeal of the estate tax would benefit people remember the state tax only is paid by households with eleven million and up now five and a half million for an individual so we're talking about you know two out of a thousand or two tenths of one percent to let's be let's put that on the take right so if you're listening to the show and you're worried about the state tax if you are part of the ninety nine point eight percent.
"chuck collins" Discussed on WRIR.org 97.3FM
"At inequality dot org a hall of fame turn shameful we will discuss how the portrait of the unionbusting president reagan has been put up in the labor department's hall of fame alongside true heroes of labour like says a chevenez by labor secretary a kosta who who was appointed by trump because of his hostility to american workers and joining us on this labor day is chuck collins who is a senior scholar at the est youth policy studies where he directs ips this program on inequality and the common good as well as being the cofounder of wealth for the common good and the patriotic millionaires he is the co authored several books including at a comic apart eight in america a primer on economic inequality and insecurity the mall measure of the economy and wealth and al commonwealth which he correct with bill gates seen him his latest book is born on third base a one percent and makes the case for tackling inequality bringing wealth home and committing to the common good and he has a new study at the next systems projects reversing inequality and unleashing the transformative potential of an equitable economy welcome to background briefing chuck collins ranked qian creepy review thank you check in now i must say watching the tragic pictures on fall down there in a houston you do see a kind of apart eight in america uh between the wealthy and the poor not that the that the flood didn't also flood some wealthy homes but we know that they've gotten insurance and the most of the people that were flooded out don't and then the more that i've looked into it with people that live down there and specialists on coastal wetlands eccentric this is sick chemical um coast that they call it or all of these chemical oil and gas infrastructure sows are known as cancer alley much of that of course has been inundated by war water and and all the pollutants the now a swelling around in this toxic stu but then when you look into the government of texas had a enabled these big oil and chemical companies to build plants in sub suburban neighbourhoods in uh the guy governor abbott who cast himself as a good christian one of his first acts was to rescind the.
"chuck collins" Discussed on KSFO-AM
"And now the non of being born on third base and thinking and had a triple is turned down it said this week on tech and onyx jason middleton types of than income inequality expert who himself was born into money and into the top 1 percent economically speaking income inequality sammy's conversations politics to climate change but it doesn't have to be that way that discussing comes your way now the income disparity between the top 10 percent and the other ninety percent of americans is staggering america's top ten percent now average nearly nine times as much income as the bottom ninety percent and americans in the top one mm percent average more than thirty eight times more income than that bottom ninety percent this week we have chuck collins he's an author a researcher and a member of the one percent so he has a unique status and he has a perspective that he sharing with others like him who were born on third base the only difference is mr collins does not think that he hit a triple there's our chaps we're speaking with chuck collins his most recent book is born on third base a onepercent or makes the case for tackling inequality bringing wealth home and committing to the common good this college i was intrigued by your mention of the resource generation i'm wondering what prospects for solutions do you see with young wealthy people under thirty five years old and your work with them well i think there is a a rising generation of both young entrepreneurs who made their money before the age of thirty five as well as people were born under day so inherited wealth today quickly understand the complete social and ecological unsustainability of the current system or end that the economy isn't just gonna keep plugging away with these extreme levels of inequality and a lot of them are stepping up their speaking out publicly against tax cuts further tax cuts for the wealthy their advocates of bringing capital home in ingesting it in a real local and regional economies and an enterprises that are actually going to meet human needs as opposed to just wealth creating wealth so there's a huge shift a generational shift of young people who understand how these inequalities really are going to backfire on the prosperity that we've known my last question for you much colleagues is kind of a theme of.
"chuck collins" Discussed on KSFO-AM
"We discussed this in previous to you and i discussing it but it seemed timed if the middle class has money it's pocket everybody kind of wins that's that's a nutshell kind of robert rice argument and i'm wondering lake are you worried that the one percent as just as a term is at becoming a pejorative and almost you know i understand if people recoil from that phrase the one percent but it's a simple statement of fat you know and and actually we could probably saved the top one tenth of one percent is where the huge alliance share of income and wealth gains have gone in the last ten years and the higher up you go the more concentrated the wealth so they shouldn't be a pejorative it's a statement of the situation that our society is in so people still argue oh we should worry about this this is the price you pay to live in a dynamic robust market economy i would say the opposite if we don't address these qualities it is going to undermine the health of our economy for the reason you mentioned you know if we have a shrinking middleclass that leads to a decline in aggregate demand spending power by the middle class is what is the real driver of the economy and when asked the population which is the sister statistic half the population has not seeing their real wages go up in forty years wages have been stagnant for a huge number of people that a lot of people being left out of being consumers spenders and dusters and stimulating a healthy economy that was chuck collins chuck is a senior scholar at the institute for policy studies and he directs ip ss program on inequality and the common good his new book is born on third base a one percent or makes the case were tackling inequality bringing wealth home and committing to the common good coming up next his part two of my chat with mr collins where we dig into the solutions for what most people see as a major societal challenge income inequality i'm jason middleton this is tech onomic please come on bath.