The only way to steer American democracy to safety is to wrest money out of the claws of the wealthiest elites, who now control finances rivaling the economies of whole nations.

By Sonali Kolhatkar

As we count down toward the 2024 general election, we should expect to hear from media pundits about candidates and their viability, swing states and the electoral college, likely voters and poll results, and much more. Occasionally we may hear about some issues of importance. Most likely, we will hear little about the urgent need for wealth redistribution in the United States. Extreme inequality remains an invisible scourge underlying so much of what ails society and, even when discussed, is touted as an unavoidable and inevitable outcome of our economy.

However, there is abundant evidence that wealth inequality is the product of intentional design and the idea that what is good for billionaires is good for society. Nothing could be further from the truth.

The Switzerland-based global bank UBS just released its 2023 Billionaire Ambitions report and concluded, “For the first time in nine editions of the report, billionaires have accumulated more wealth through inheritance than entrepreneurship.” Benjamin Cavalli, Head of Strategic Clients at UBS Global Wealth Management said, “This is a theme we expect to see more of over the next 20 years, as more than 1,000 billionaires pass an estimated [$5.2 trillion] to their children.”

That’s more than the economy of the entire United Kingdom. It’s more than the economies of Canada and Mexico combined.

The UBS report was not a critical one and hardly blinked an eye about the obscenity of wealth being hoarded in dynasties. About half of all billionaires around the world use UBS’s banking services, so the bank merely analyzed the investment habits of its most important clients. It did so candidly, referring to “the great wealth transfer” from one generation to the next, avoiding mention of the wealth transfer from the majority of the public to an elite minority.

The report also declared with pride that intent on “continuing the current family legacy, 60% of heirs want to enable future generations to benefit from their wealth.” Of course, they meant future generations of their own families, not in general.

But this wealth transfer is directly the result of tax codes written to benefit the uber-rich. ProPublica’s 2021 analysis of the tax returns of the richest Americans found that they paid an average of 3.4% in taxes, employing armies of lawyers to exploit every loophole carved out to offer special advantages to wealthy elites. Meanwhile, middle-class and working-class Americans pay double-digit tax rates. What this amounts to is collective theft from government revenues.

It’s time to reverse this trend by resorting to a concerted project of wealth redistribution. It’s time to wrest billions, if not trillions, out of the hands of billionaires and their heirs and pour it back where it belongs: to the rest of us.

Call it socialism—which is what the pro-rich rightwing GOP does—or call it progressive taxation, or economic justice. It doesn’t matter; the nation’s fiscal conservatives will demonize any ideas of wealth redistribution and will attempt to instill baseless fears of creeping communism, no matter what specific language we use around fairness. So, we might as well start spelling it out instead of trying to appease the right. After all, there’s a reason why conservatives and wealthy elites want the public to be afraid of socialism: they’re terrified that Americans might be thrilled to embrace policies such as wealth redistribution through taxation.

And if we need any more reasons to put a bullseye on billionaire wealth, it turns out they are vicious, dangerous fascists, whose children are an even more callous lot than their parents.

Billionaires don’t need the protections that democracy offers: earned benefits like Social Security or Medicare, access to free or affordable health care including abortion, labor and wage protections, and due process (they can buy the best legal help when they get in trouble).

In fact, democracy is a threat to their wealth hoarding, which is why they are backing the most dangerous demagogue to have ever occupied the White House: Donald Trump. Economic analyst and former U.S. Labor Secretary Robert Reich lists the numerous billionaires backing Trump for a second term and cites Trump’s promise to wealthy elites, that he plans to “root out the communists, Marxists, fascists and the radical-left thugs that live like vermin within the confines of our country.” Wealthy elites helped bring us Trump’s first term, and they’re itching for a second.

Why wouldn’t billionaires back fascism? It benefits them in ways democracy doesn’t. Indeed, billionaires exist as a design flaw in democracy. The greater the number of billionaires and the greater the wealth they hoard, the weaker the democracy that binds them.

Legislation like Senator Ron Wyden’s Billionaire Income Tax is what they fear if democracy trumps fascism. Wyden’s bill is so modest that it doesn’t target wealth, only income, and would affect fewer than 1,000 Americans, trimming off tiny slivers of their unprecedented hoardings, leaving them as fabulously wealthy as before. After all, is there a real difference between being worth $10 billion versus $9.9 billion?

As to the children of billionaires being worse than their parents, there is a small mention in the UBS report of how heirs of billionaires are far less philanthropic than first-generation billionaires: “while more than [two-thirds] (68%) of first-generation billionaires stated that following their philanthropic goals and making an impact on the world was a main objective of their legacy, less than a third (32%) of the inheriting generations did so.” One could conclude that empathy among children of the ultra-wealthy drops by half each generation. This could be a generation even more determined to fund and fuel fascism in order to protect their riches compared to their parents.

The wealthy are so secure in the protections they have from democratic curbs on their financial power that their biggest worries, as per the UBS report, include “geopolitical tensions,” inflation, recession, and higher interest rates. Fears around a “tight jobs market” and “stricter sustainability rules,” fall low on their list. In other words, they feel secure against threats of wage rebellions and government regulations.

And so, as we hurtle toward authoritarian aristocracy, we must normalize the idea of wealth redistribution. There is no good reason against it, not a single one. We can have either billionaires or democracy, not both.

Author Bio: Sonali Kolhatkar is an award-winning multimedia journalist. She is the founder, host, and executive producer of “Rising Up With Sonali,” a weekly television and radio show that airs on Free Speech TV and Pacifica stations. Her most recent book is Rising Up: The Power of Narrative in Pursuing Racial Justice (City Lights Books, 2023). She is a writing fellow for the Economy for All project at the Independent Media Institute and the racial justice and civil liberties editor at Yes! Magazine. She serves as the co-director of the nonprofit solidarity organization the Afghan Women’s Mission and is a co-author of Bleeding Afghanistan. She also sits on the board of directors of Justice Action Center, an immigrant rights organization.

This article was produced by Economy for All, a project of the Independent Media Institute.

 

A fight over extending provisions of Trump’s tax cuts is at stake in November’s election. Ultimately, the race is about money.

By Sonali Kolhatkar

There are many issues on the line this election year but one that gets little attention is former President Donald Trump’s 2017 tax reform law that cut taxes on the wealthiest Americans and corporations. The Tax Cuts and Jobs Act permanently reduced the tax rate for big corporations from an already-low 35 percent to a ridiculously minuscule 21 percent. It also lowered tax rates for the wealthiest people from nearly 40 percent to 37 percent. Several provisions of that law are set to expire in 2025, making this November’s Congressional and Presidential elections particularly critical to issues of economic fairness and justice.

A few months after Trump signed the bill, he boasted, “We have the biggest tax cut in history, bigger than the Reagan tax cut. Bigger than any tax cut.” It became a common refrain for him when touting his achievements. But, Trump, who was known for breaking all records on lying to the public while in office, conflated many different facts to come up with a positive-sounding falsehood in a nation already primed by the likes of Ronald Reagan and Bill Clinton to view taxation as anathema. Trump’s tax cuts as a whole were the eighth largest in history. But his corporate tax cut was in fact the single largest reduction ever in that category.

Wealthy corporations have for years lobbied for and won so many carve-outs and loopholes to the U.S. tax system, and hidden so much money in offshore tax havens that their pre-2017 effective tax rates were already far lower than the official rates. Then, Trump lowered them even more. Imagine telling the American public that you are responsible specifically for the biggest tax cuts to the biggest corporations in U.S. history. It wasn’t a good look. And so, he lied, saying that he signed history’s biggest tax cut overall.

In the simplest terms, taxes are a way to pool collective resources so we can have the things we all need for safety and security. Progressive taxation is when wealthier individuals (and corporations) are taxed at higher-than-average rates because the richer one is, the less excess money one needs beyond one’s basic necessities. Progressive taxation ensures that wealth inequality doesn’t spiral out of control and helps ensure money that’s being sucked upwards, gets redistributed downward. When wealthy elites pay fewer taxes, they are effectively stealing from the public.

Since the cuts have been in place, many studies have attempted to assess their impact on the U.S. economy. The Center on Budget and Policy Priorities concluded in a March 2024 report that “[t]ogether with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), [Trump’s] law has severely eroded our country’s revenue base.”

Trump’s law accelerated the draining of our collective revenues to fund the things we need. Even the fiscally conservative Peter G. Peterson Foundation concluded that, as a result of Trump’s law, “The United States collects fewer revenues from corporations, relative to the size of the economy, than most other advanced countries.”

Trump’s tax cuts were quite literally regressive, rewarding the already rich. A 2021 ProPublica report found that just one last-minute provision to the bill demanded by Senator Ron Johnson (R-WI) for so-called pass-through corporations benefited a handful of the wealthiest people in the nation: “just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.” It only cost about $20 million in bribes to Johnson (i.e., donations to the Senator’s reelection campaign) to enact this windfall.

It’s no wonder that the rich were thrilled with Trump’s presidency and that his virulent white supremacy and fascist leanings were not deal breakers.

It’s also unsurprising that wealthy elites are backing a second term for Trump. They want an extension of those tax bill provisions that are expiring in 2025, and perhaps an even bigger tax cut, if they can get it. If those provisions are left to expire, people making more than $400,000 a year—the top 2 percent of earners—will see an increase in taxation in 2025.

This is a demographic that is already prone to tax cheating given the IRS’s recent announcement that 125,000 Americans making between $400,000 and $1 million a year have simply refused to file taxes since 2017.

If the GOP wins control of the Senate and the House of Representatives this fall, and if Trump beats President Joe Biden, those cuts will become permanent. A GOP sweep in November will also usher in a new wave of threats to people of color, LGBTQ people, especially transgender communities, labor rights, and reproductive justice, as well as an escalation to the already-dire Israeli genocide in Gaza that Biden is fueling. It’s hard to believe but many Americans seem to have forgotten the horrors of 2016 to 2020.

But, at its heart, this election will be about money, for it will take a lot of money to fund the GOP’s reelection campaigns in order for moneyed forces to ensure they retain control of more money—democracy, justice, and equity be damned.

For Trump, this is even more important given his legal challenges. He’s relying on small-dollar donations from his base to cover his mounting legal fees and has had to post a $91 million bond to cover the fines he faces from a defamation lawsuit by E. Jean Carroll. The more desperate Trump gets in his bid to secure the White House, the more willing he and his party will be to sell the nation to the highest bidder. And, he will lie to the public by conflating tax cuts for the rich with tax cuts for all.

We ought to think of tax cuts in terms of public revenue theft. When the wealthy win lowered taxes, they are stealing money from the American public as a whole. As per the U.S. Senate Budget Committee, permanently extending Trump’s tax cuts will result in a loss of $3.5 trillion in revenues through the year 2033. That’s highway robbery.

There are many issues on the line this election year but one that gets little attention is former President Donald Trump’s 2017 tax reform law that cut taxes on the wealthiest Americans and corporations. The Tax Cuts and Jobs Act permanently reduced the tax rate for big corporations from an already-low 35 percent to a ridiculously minuscule 21 percent. It also lowered tax rates for the wealthiest people from nearly 40 percent to 37 percent. Several provisions of that law are set to expire in 2025, making this November’s Congressional and Presidential elections particularly critical to issues of economic fairness and justice.

A few months after Trump signed the bill, he boasted, “We have the biggest tax cut in history, bigger than the Reagan tax cut. Bigger than any tax cut.” It became a common refrain for him when touting his achievements. But, Trump, who was known for breaking all records on lying to the public while in office, conflated many different facts to come up with a positive-sounding falsehood in a nation already primed by the likes of Ronald Reagan and Bill Clinton to view taxation as anathema. Trump’s tax cuts as a whole were the eighth largest in history. But his corporate tax cut was in fact the single largest reduction ever in that category.

Wealthy corporations have for years lobbied for and won so many carve-outs and loopholes to the U.S. tax system, and hidden so much money in offshore tax havens that their pre-2017 effective tax rates were already far lower than the official rates. Then, Trump lowered them even more. Imagine telling the American public that you are responsible specifically for the biggest tax cuts to the biggest corporations in U.S. history. It wasn’t a good look. And so, he lied, saying that he signed history’s biggest tax cut overall.

In the simplest terms, taxes are a way to pool collective resources so we can have the things we all need for safety and security. Progressive taxation is when wealthier individuals (and corporations) are taxed at higher-than-average rates because the richer one is, the less excess money one needs beyond one’s basic necessities. Progressive taxation ensures that wealth inequality doesn’t spiral out of control and helps ensure money that’s being sucked upwards, gets redistributed downward. When wealthy elites pay fewer taxes, they are effectively stealing from the public.

Since the cuts have been in place, many studies have attempted to assess their impact on the U.S. economy. The Center on Budget and Policy Priorities concluded in a March 2024 report that “[t]ogether with the 2001 and 2003 tax cuts enacted under President Bush (most of which were made permanent in 2012), [Trump’s] law has severely eroded our country’s revenue base.”

Trump’s law accelerated the draining of our collective revenues to fund the things we need. Even the fiscally conservative Peter G. Peterson Foundation concluded that, as a result of Trump’s law, “The United States collects fewer revenues from corporations, relative to the size of the economy, than most other advanced countries.”

Trump’s tax cuts were quite literally regressive, rewarding the already rich. A 2021 ProPublica report found that just one last-minute provision to the bill demanded by Senator Ron Johnson (R-WI) for so-called pass-through corporations benefited a handful of the wealthiest people in the nation: “just 82 ultrawealthy households collectively walked away with more than $1 billion in total savings, an analysis of confidential tax records shows.” It only cost about $20 million in bribes to Johnson (i.e., donations to the Senator’s reelection campaign) to enact this windfall.

It’s no wonder that the rich were thrilled with Trump’s presidency and that his virulent white supremacy and fascist leanings were not deal breakers.

It’s also unsurprising that wealthy elites are backing a second term for Trump. They want an extension of those tax bill provisions that are expiring in 2025, and perhaps an even bigger tax cut, if they can get it. If those provisions are left to expire, people making more than $400,000 a year—the top 2 percent of earners—will see an increase in taxation in 2025.

This is a demographic that is already prone to tax cheating given the IRS’s recent announcement that 125,000 Americans making between $400,000 and $1 million a year have simply refused to file taxes since 2017.

If the GOP wins control of the Senate and the House of Representatives this fall, and if Trump beats President Joe Biden, those cuts will become permanent. A GOP sweep in November will also usher in a new wave of threats to people of color, LGBTQ people, especially transgender communities, labor rights, and reproductive justice, as well as an escalation to the already-dire Israeli genocide in Gaza that Biden is fueling. It’s hard to believe but many Americans seem to have forgotten the horrors of 2016 to 2020.

But, at its heart, this election will be about money, for it will take a lot of money to fund the GOP’s reelection campaigns in order for moneyed forces to ensure they retain control of more money—democracy, justice, and equity be damned.

For Trump, this is even more important given his legal challenges. He’s relying on small-dollar donations from his base to cover his mounting legal fees and has had to post a $91 million bond to cover the fines he faces from a defamation lawsuit by E. Jean Carroll. The more desperate Trump gets in his bid to secure the White House, the more willing he and his party will be to sell the nation to the highest bidder. And, he will lie to the public by conflating tax cuts for the rich with tax cuts for all.

We ought to think of tax cuts in terms of public revenue theft. When the wealthy win lowered taxes, they are stealing money from the American public as a whole. As per the U.S. Senate Budget Committee, permanently extending Trump’s tax cuts will result in a loss of $3.5 trillion in revenues through the year 2033. That’s highway robbery.

Author Bio: Sonali Kolhatkar is an award-winning multimedia journalist. She is the founder, host, and executive producer of “Rising Up With Sonali,” a weekly television and radio show that airs on Free Speech TV and Pacifica stations. Her most recent book is Rising Up: The Power of Narrative in Pursuing Racial Justice (City Lights Books, 2023). She is a writing fellow for the Economy for All project at the Independent Media Institute and the racial justice and civil liberties editor at Yes! Magazine. She serves as the co-director of the nonprofit solidarity organization the Afghan Women’s Mission and is a co-author of Bleeding Afghanistan. She also sits on the board of directors of Justice Action Center, an immigrant rights organization.

 This article was produced by Economy for All, a project of the Independent Media Institute.

Did you miss us?  Well, we missed you.  We missed being able to share up-to-date and valuable posts, women's herstory, and so much more.

We got caught up in a disaster named "Milton".  As it turned out, we were so much more fortunate than thousands of other people.  Our damages were not life-threatening and are repairable.  Our water supply is OK.  Our power was not off for more than a few hours.  What we did experience at both the hotel to which we evacuated and back at our home base has been NO INTERNET and NO TV!  We have been going bonkers without these staples of modern life!

We are grateful that several people shared good posts on our Facebook page while we were out of commission.  Thank you.

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On a personal note - I don't think I realized how much I enjoy what I do until I was deprived of the ability to do it.  It is hard work but it is also very gratifying.

                          “Badass women are not afraid to speak truth to power.”

Vote4Equality, #Nancy Polosi, #“WOMEN ARE GOING TO WIN FOR OUR COUNTRY!!”

That’s the message Speaker Emerita Nancy Pelosi delivered to Feminist Majority’s EqualiTEA gathering.  And there’s no question that dynamic is not just influencing the conversation—it is driving it.

The stakes have never been higher for women in America. The issues at play in this election at all levels of the ballot affect all women.  You see regardless of age every woman will be affected in some important way by the outcome of the 2024 elections.

And that’s why it’s so important that you and other loyal supporters understand why Feminist Majority’s Vote4Equality political action arm is so sharply focused on turning out young voters on key college campuses in key battleground and swing states.

The reason is simple:  A massive turnout of young voters will make the winning difference for each of no matter what our age.  Why?  Because young voters can provide the margin of victory assuring that defenders of reproductive rights, the ERA, LGBTQ+ rights and our other personal freedoms are elected or re-elected.

REGARDLESS OF YOUR AGE.., How the 2024 Election Will Affect You

Let’s take a closer look at how and why women of different ages are engaging with the programs of the Feminist Majority and the range of reasons they give for the importance and urgency of supporting our Vote4Equality mobilization.

Women in Their 20s: For women in their 20s, the 2024 election is about laying the foundation for the future. This generation has grown up in a world where gender equality has been a prominent discussion, but where there are still significant gaps in representation, pay equity, and reproductive rights. The overturning of Roe v. Wade has brought the fight for reproductive freedom to their doorstep. For young women, many of whom are not yet thinking about starting a family, the right to make decisions about their own bodies is paramount.

Vice President Kamala Harris’s strong stance on abortion rights resonates with many young women who see their ability to control their own reproductive choices as central to their independence and future opportunities. Harris’s candidacy also represents the possibility of breaking barriers in leadership—a message that encourages young women to see themselves as future leaders. This generation is more politically engaged than ever before, with issues like climate change, gender equality, and LGBTQ+ rights also high on their list of priorities.

Women in Their 30s: For women in their 30s, the intersection of career, family, and personal rights is often at the forefront of their lives. This group is navigating the complexities of advancing in their careers or working two or more jobs to make ends meet, all the while often balancing raising young children. The 2024 election is critical for them, as it will directly impact the policies that shape workplace equality, parental leave, childcare support, and reproductive health.

Kamala Harris’s candidacy brings hope for policies that support working women and mothers. Her advocacy for reproductive rights, affordable childcare, and equal pay laws is particularly relevant to this age group, many of whom are juggling work and family responsibilities. At the same time, the rhetoric from the opposing ticket, particularly from J.D. Vance, about traditional family roles and the diminished societal value of childless women, underscores the gender divide in this election. For women in their 30s, this is a moment to stand up for their right to shape their own lives, free from outdated gender norms.

Women in Their 50s: Women in their 50s are often at a crossroads, balancing shifting priorities as they transition from the intense demands of work and family to new opportunities and challenges. Many in this group are caring for aging parents while also supporting their adult children. They are at a stage where health care, retirement security, and equal pay are critical concerns.

For these women, the 2024 election is a moment to ensure that the progress made on gender equality is not rolled back. The focus on reproductive rights remains crucial, especially as women in their 50s reflect on the struggles they’ve faced, and the battles younger generations are fighting today.

Kamala Harris’s candidacy offers the possibility of policies that continue to advance gender equality, invest in elder care, and ensure that health care and retirement benefits remain accessible and equitable. On the other hand, the opposing vision, which includes efforts to restrict women’s rights and reinforce traditional gender roles, feels like a direct threat to the progress they’ve spent decades working toward

Women 65 and Older:  For women 65 and older, the 2024 election is deeply personal. This generation has lived through the civil rights movement, the battles to ratify the Equal Rights Amendment and secure legal abortion, and decades of political change. They have seen victories for women’s rights, but in the absence of placing the already-ratified ERA in the Constitution,  they’ve also witnessed the erosion of these hard-won gains.

Many in this age group are also concerned about the legacy they will leave behind for their daughters, granddaughters, and future generations.

Reproductive rights are again at the center of the debate, and many women in this group are fiercely protective of the progress they fought for in their younger years. Kamala Harris’s candidacy is seen as a continuation of the fight for gender equality, and her policies on health care, retirement security, and social justice resonate with their vision for a better future. For these women, the outcomes of the 2024 election are about ensuring that the progress they helped achieve is not undone by regressive policies that would turn back the clock on women’s rights.

A Call to Action Across Generations

No matter your age, the 2024 election is about the future of gender equality in America. Whether you’re in your 20s, 30s, 50s, or over 65, your vote matters. And your help in advancing the critical work of our Vote4Equality mobilization is essential.

This election will determine the policies that affect your life—from reproductive rights to workplace equality to retirement security. It’s a pivotal moment for women across generations to come together and ensure that gender equality continues to advance.

As we head to the polls, we must ask ourselves: What kind of future do we want to build? For ourselves, for our daughters, for the generations yet to come? The answer to that question starts with doing the hard work of preparing our Campus Mobilization in the critical weeks ahead.

Let’s make the time ahead count.  Please help support these efforts today.

For Victory and Equality,

Eleanor Smeal, President, Feminist Majority Foundation     https://feminist.org/

 

 

 

 

 

 

 

Domestic violence calls about reproductive coercion doubled after the overturn of Roe

By Jennifer Gerson ,  Shefali Luthra

Those experiencing domestic violence are faced with a reality where an inability to receive reproductive care is also further endangering their lives, new data shows.

Reports of abuse involving reproductive coercion — actions that prevent someone from making crucial decisions about their body and reproductive health — nearly doubled in the yearlong period after Roe v. Wade was overturned, according to new data from the National Domestic Violence Hotline (NDVH).

“If you cannot make these decisions, it could mean unfortunately that you have to stay in an abusive situation longer than you want to,” Marium Durrani, the vice president of public policy at the NDVH, told The 19th. “It could impact your escape, it could mean that potentially you’re forced to have a child with someone you don’t want to have a child with.” 

Durrani explained that reproductive coercion can take the form of any situation in which one partner is exerting power over another in a way that impacts their reproductive health: forcing someone to engage in sexual activity, refusing to use contraception, restricting a partner from seeing a health care provider, telling a partner they are not allowed to receive abortion care.

“A lot more people are now citing some sort of reproductive issue as part of their experience [with domestic abuse],” Durrani said. “Dobbs is having a huge impact on not only all individuals around the country, but survivors in particular.” 

The hotline reported that in the year before the Dobbs decision — from late June 2021 to the end of May 2022 — 1,230 of the people who contacted the hotline said they experienced reproductive coercion or mentioned abuse. The number of people saying so nearly doubled — to 2,442 — for the same period a year later.

With increased limitations on access to reproductive health care – and especially abortion care — in the 18 months since the Dobbs ruling, those experiencing domestic violence are facing a reality where an inability to receive this care is also further endangering their lives and safety. 

 READ THE FULL STORY

 

                           This story was originally published by The 19th.

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