Nobody “Earns” a Billion Dollars. We Need a Wealth Tax.

Economist James K. Boyce analyzes new data on US disparities and frames environmental degradation as a class issue.

billionaires have seen their wealth nearly double since the Trump tax cuts took effect in 2017. In the meantime, the planet is getting hotter and the richest 1 percent of humanity accounts for more carbon emissions than the poorest 66 percent. Indeed, the interconnection between climate change and economic inequality has emerged as a central theme in serious economic analyses and a focal...

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