As new economic data showed prices climbed a shocking 9.1 percent year-to-year in June, New York Times economic policy reporter Alan Rappeport lamented Republicans "seizing" the issue on the front of Friday’s Business section: “G.O.P. Seizes on Inflation, Putting Democrats in Peril.”
John Bellamy Foster is the editor of
Monthly Review and a professor of sociology at the University of Oregon. R. Jamil Jonna is associate editor for communications and production at
Monthly Review. Brett Clark is associate editor of
Monthly Review and a professor of sociology at the University of Utah.
The authors thank John Mage, Craig Medlen, and Fred Magdoff for their assistance.
The U.S. economy and society at the start of 2021 is more polarized than it has been at any point since the Civil War. The wealthy are awash in a flood of riches, marked by a booming stock market, while the underlying population exists in a state of relative, and in some cases even absolute, misery and decline. The result is two national economies as perceived, respectively, by the top and the bottom of society: one of prosperity, the other of precariousness. At the level of production, economic stagnation is diminishing the life expectations of the vast majority. At the same time, financializatio
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good morning from thork. i m chris he s. egypt s new constitution appears headed towards the approval despite objections from opposition groups official ru89s are expect on monday. and ted kennedy jr. is considering a run for the senate seat that will become vacant if senator john kerry is confirmed as the next secretary of state. i m joined by former democratic governor of new jersey, james florio. and heidi moore. finance and editor of the guardian newspapers. and dean baker, author of the end of loser liberalism, making markets progressive. codirector of the center for economic and policy research. so, after at least after a dozen different public offers, countless press conferences and weeks of closed car door talks
rate than you? it is a low rate and one of the reasons the capital gains tax rate is lower because capital has already been taxed once at the corporate level. as high as 35%. so you think it is fair? yeah. i think it s the right way to encourage economic growth to get people to invest, to start businesses, to put people to work. let s turn to msnbc political analyst richard wolffe and also dean baker, co-director for the center for economic policy and research and also author of the book the end of loser liberalism. gentlemen, good to have you with us. richard, mitt romney overpaid to get a 14% tax rate. that s a heck of a rate. how is he going to sell that to the middle class? especially when he said he qualified he would not qualify to be president if he overpaid on his taxes. you know, look, start from just the purely political level. he is going to spend the next several days having to deal with