Unionization, Marxism and Education
Economic Update with Richard D. Wolff
00:00
The Injustice of Stocks and Bonds
If you're really rich, most of your wealth is in the form of stocks and bonds. Most Americans have no wealth at all. The 10% richest people in this country own 80% of the stocks and Bonds. They are tax exempt. That's why the rich get richer and you and I don't. We have a tax system that grotesquely favors those who need the favor while continuing to tax your average person barely able to afford a home and a car. And here's the second injustice. In Europe today, in England and in Portugal particularly, the government has what are called excess profits taxes,. sometimes called windfall profits tax.
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