It takes some serious chutzpah for Donald Trump, a man who paid no taxes at all in 10 of the previous 15 years, and chipped in only $750 a year in his first two years in the White House to even dare to raise the subject of taxes. Long-Concealed Records Show Trump’s Chronic Losses And … Read more
The New York Times reports that Republicans Clash on Stimulus as Trump Says ‘Go Big’ and McConnell Demurs: President Trump clashed with his own party on Thursday over a stimulus package to stabilize the economy, calling for a big-spending plan of the kind envisioned by Democrats even as the top Republican leader declared that such … Read more
The number of Americans seeking unemployment benefits rose last week by the most in two months, to 898,000, a historically high number and evidence that layoffs remain a hindrance to the economy’s recovery from the pandemic recession. For context, the previous record for weekly unemployment claims was 695,000 set in 1982 — a record that has now … Read more
Farmers have been devastated by Donald Trump’s trade war with China and Europe, which destroyed lucrative foreign markets it took years to build. It will take years to rebuild those markets, if at all, if they have not already been displaced by other foreign competitors. The only thing keeping many farmers financially afloat over the … Read more
The maldistribution of America’s income and wealth has reached levels that our conventional economic stats have trouble revealing. [Cross-posted from Inequality.org] We’ve all seen the stats on America’s extreme inequality. Over 20 percent of our nation’s income flows to the top 1 percent. The top 1 percent’s share of our country’s wealth is approaching 40 … Read more