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      Traders work on the floor of the New York Stock Exchange (NYSE) on March 16, 2023

      What Will It Take to End the Billionaire Bailout Society We Live In?

      With echoes of 2008, the collapse and bailout of Silicon Valley Bank shows little has changed for reckless financial actors. Exactly how long will we allow this to continue?

      Les Leopold
      Mar 16, 2023

      In case we need any more proof, the bailout of the Silicon Valley Bank (SVB) is yet another overt sign that we are operating within a new version of capitalism. The wealthiest among us have little fear of losing money from their most important financial investments. They know they will be bailed out, and the rest of us will pick up the tab.

      The crisis at SVB has made a mockery of bank deposit insurance and private banking. In the US, bank deposits are insured up to $250,000. If the bank fails, those with accounts below that amount are fully protected. But deposits over that amount are not.

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      Talking Down the Billionaires Suffering From 'Excessive Wealth Disorder'

      Talking Down the Billionaires Suffering From 'Excessive Wealth Disorder'

      A conversation with the head of a new think tank focused on curbing the excessive wealth of the nation's richest individuals.

      Rebekah Entralgo
      Mar 15, 2023

      A mid-pandemic survey from Pew found that 55 percent of Americans have no opinion on whether billionaires – whose wealth doubled during the pandemic – are good or bad for the United States.

      How do we shift the narrative to convince a larger majority of the dangers of wealth hoarding at the top end of our economic ladder?

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      Opinion
      U.S. President Joe Biden delivers remarks on the February jobs report flanked by Council of Economic Advisers Chair Cecilia Rouse and National Economic Council Director Lael Brainard in the Roosevelt Room at the White House in Washington, D.C. on March 10, 2023.

      Biden Tax Boost Targeting the Rich Called 'Fair, Popular, and Long Overdue'

      "Republicans have already made clear they're on the side of the 1 Percenters and big corporations by trying to shield rich tax cheats and endangering Social Security and Medicare with deficit-busting tax cuts for the wealthy and corporations," said one expert. "The contrast couldn't be sharper."

      Jessica Corbett
      Mar 10, 2023

      While far-right Republicans continue threatening to blow up the global economy unless Congress makes cuts to popular social programs, progressive taxation experts are celebrating U.S. President Joe Biden's latest push to invest in "widespread prosperity" by raising taxes on wealthy individuals and corporations.

      As part of his fiscal year 2024 budget blueprint unveiled Thursday, Biden calls for a 25% minimum tax on the wealthiest 0.01%; reforms to ensure high-income individuals pay their fair share into the Medicare Hospital Insurance trust fund; and repealing 2017 tax cuts and restoring the top tax rate of 39.6% for people making over $400,000 a year.

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