postwar_boom   4

Opinion | The Rich Really Do Pay Lower Taxes Than You - The New York Times
The overall tax rate on the richest 400 households last year was only 23 percent, meaning that their combined tax payments equaled less than one quarter of their total income. This overall rate was 70 percent in 1950 and 47 percent in 1980.

For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they haven’t benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat.

The combined result is that over the last 75 years the United States tax system has become radically less progressive.
taxes  tax_breaks  progressivism  income_inequality  postwar_boom  r_vs_g 
12 days ago by perich
Progressive capitalism – an oxymoron | Michael Roberts Blog
Stiglitz’s views are either pure naivety or clever sophistry –or maybe both. Does he really think that there was a period when capitalism benefited both workers and corporations; rich and poor?  The ‘golden age’ after 1945 up to the late 1960s was the exception in advanced capitalist economies and then only for those economies, not for Latin America, Asia, the Middle East and Africa.  For the greater part of the globe, those decades were ones of dire poverty and a battle against imperialist exploitation.

Anyway, it is a myth that in the 1950s and 1960s that everybody gained from ‘progressive’ capitalism in the West.  And what gains that were made in public services, a welfare state, relatively full employment and rising incomes were mainly the result of struggle and pressure by the labour movement, forcing concessions from the owners of capital.

And Stiglitz never explains why this supposed regulated, democratic progressive capitalism came to an end in the 1970s, except to suggest it was down to the vile politics of Reagan, Thatcher etc.  But readers of this blog know that there was a change of objective conditions from the mid-1960s, namely a sharp fall in the profitability of capital globally.
joseph_stiglitz  progressivism  income_inequality  postwar_boom  michael_roberts  financialization 
april 2019 by perich
Who Segregated America? | Public Books
Recently long-listed for the National Book Award for nonfiction, Richard Rothstein’s The Color of Law is an accessible and powerful account of how metropolitan America became racially segregated during the 20th century. Rothstein contends that whenever the government recognized, certified, protected, tolerated, supported, or ignored discriminatory practices—by money lenders, private businesses, tax-exempt institutions, or housing developers—it effectively produced and reproduced racial segregation.

But Rothstein doesn’t convincingly explain why the government remained committed to racial residential segregation for decades. If government was the tool by which segregation was created, who—or what—was the hand that wielded it?

Curiously, The Color of Law ignores the obvious answer: capitalism. The book’s focus on law and policy shifts attention away from surplus value and patterns of extraction and exploitation, instead of focusing on these dynamics as an integral part of America’s democratic, law-making system. We might well view residential segregation as the domestic expression of the racial capitalism of the 20th century.
racism  housing  segregation  postwar_boom 
december 2017 by perich
The Origins of Anti-Litter Campaigns – Mother Jones
After World War II, the story goes, American manufacturers were running at full blast, and needed American consumers to keep buying more and more junk if they wanted to maintain their profit margins. And since there’s an upper limit to how much junk a given family genuinely needs to own, manufacturers had to figure out how to convince consumers to keep throwing their existing stuff out, so that they would buy new stuff.

In part, that meant companies had to ensure that in a few short years consumer goods would become either unfashionable (advertising can do that), or obsolete (simply stop offering customer support for anything a few years old), or broken (like the non-replaceable batteries in iPods that wear out after two years). Giles Slade describes some of these strategies in his book, Made to Break, and they’re techniques that have existed for decades now. But another way to ensure that factories could keep churning out junk was to introduce “non-renewable” packaging for products—for instance, the aluminum soda can—that could be produced, trashed, and then produced again.
consumerism  environmentalism  postwar_boom  american_exceptionalism 
december 2017 by perich

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american_exceptionalism  consumerism  environmentalism  financialization  housing  income_inequality  joseph_stiglitz  michael_roberts  progressivism  r_vs_g  racism  segregation  tax_breaks  taxes 

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