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Wealth is not a Private Affair
The US faces a revenue- and a war-spending crisis. The top tax rate was over 70% from 1938 to 1982; corporations stash trillions in tax havens. Joseph Stiglitz warns that inequality creates suboptimal economies. Since capital gains taxes are half of regular taxes, speculators pay much less than workers. Alternative economics emphasize that our economic problems are endogenous, not exogenous. Profit-maximizing is different than profit-making (Ulrich Thielemann). In late stage financial capitalism, profits explode, not investments (Nicolaus Krowall).
The US faces a revenue- and a war-spending crisis. The top tax rate was over 70% from 1938 to 1982; corporations stash trillions in tax havens. Joseph Stiglitz warns that inequality creates suboptimal economies. Since capital gains taxes are half of regular taxes, speculators pay much less than workers. Alternative economics emphasize that our economic problems are endogenous, not exogenous. Profit-maximizing is different than profit-making (Ulrich Thielemann). In late stage financial capitalism, profits explode, not investments (Nicolaus Krowall).
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