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We already have an annual wealth tax on homes, the major asset of the middle class. It's called the property tax. Why not a small annual tax on the value of stocks and bonds, the major assets of the wealthy?

Robert Reich

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Robert Reich
Age: 78
Born: 1946
Born: June 24
Economist
Former United States Secretary Of Labor
Political Scientist
Politician
University Teacher
Scranton
Pennsylvania
Robert Bernard Reich
Small
Major
Annual
Class
Property
Stocks
Values
Taxes
Bonds
Home
Value
Asset
Wealth
Homes
Already
Assets
Middle
Wealthy
Called
Majors
Annuals

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We reform the system. We save capitalism from its own excesses.
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I wish it were simply a nightmare, but I think that any reasonable person watching American politics would come to the conclusion that a second Bush administration would in fact incorporate a more radicalized version of what we've seen in the first administration.
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The rich would do better with a smaller share of a rapidly growing economy then they're doing now with a large share of an economy that is barely growing at all.
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You can't inspire people if you are going to be uninspiring.
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There is a crisis of public morality. Instead of policing bedrooms, we ought to be doing a better job policing boardrooms.
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Social change occurs when the gap between the ideals that people hold and the reality that they see every day gets too large.
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Now, inventiveness and empathy, those qualities, if they're together in the same person, you've got an entrepreneurial genius. But they do tend to be slightly separate.
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Liberals are concerned about the concentration of wealth because it almost inevitably leads to a concentration of power that undermines democracy.
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In the life of a nation, few ideas are more dangerous than good solutions to the wrong problems.
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Education is not the only answer and it's certainly not the immediate solution. At best, it's a necessary, but not sufficient response to widening inequality.
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One thing I've learned from 35 years in the classroom is that people learn best when they are laughing, when they are emotionally hit, that it's both the brain and the heart.
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Terrorism itself is not the greatest danger we face.
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Those who analogize the federal budget to a family's budget must know nothing about either.
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You`ve got to just follow the money [in Washington]. You see it. There`s no countervailing power.
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The core principle is that we want an economy that works for everyone, not just for a small elite. We want equal opportunity, not equality of outcome. We want to make sure that there's upward mobility again, in our society and in our economy.
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The path to success used to be up and through an organization. Now the path to success is increasingly through self-promotion.
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The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.
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If you ever want to get a sense of your own personal failure, look at yourself trying to get across a point that nobody is listening to and the situation gets worse and worse.
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If consumers don't have the wherewithal to spend because all the money's going to the top, and the people at the top only spend a very small fraction of what they earn, then the economy is almost inevitably destined to slow.
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America's real business leaders understand unless or until the middle class regains its footing and its faith, capitalism remains vulnerable.
Robert Reich