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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
Called
Majors
Annuals
Small
Major
Annual
Class
Property
Stocks
Values
Taxes
Bonds
Home
Value
Asset
Wealth
Homes
Already
Assets
Middle
Wealthy

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In journalism, there are only two stories - Oh, the wonder of it, and Oh, the shame of it.
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The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.
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We reform the system. We save capitalism from its own excesses.
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There`s sort of a chilling effect on non-profits and the media and a lot of other places because the establishment is so powerful. That`s where the money is.
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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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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.
Robert Reich
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If we're concerned about volatility of earnings because we want some more stability in our lives, then let's create, instead of an unemployment insurance system, an earnings insurance system that will moderate the volatility for a certain period of time until we get back on our feet.
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Bill Clinton was a very, very good speaker. But like many people who are great speakers and great thinkers and have a lot of energy and ambition, he talked too much.
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We are now enjoying the liberation that comes with not having to be organization men and women, and that's fabulous. But there are new social consequences here of which we need to be aware, and the sale of the self and what that entails for the rest of our lives is quite sobering.
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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.
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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 poverty line understates the true amount of poverty because it measures it as three times the breadbasket that a family needs, but it doesn't consider all the other things that are inflating far, far faster than food prices.
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One logical consequence of this New Economy composed of big brands and entrepreneurial groups is that the unit of production is no longer a particular, identical product. The unit of production is the creative individual.
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You ask, Could we have an honest discussion about earnings insurance? I think we could, if people understood that the alternative was to build up a backlash against global capital, against free trade, against technological change.
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It's very hard to establish an economy of trustworthiness. The key is continuing to innovate and to keep your customers through innovation, because the customers can leave. But once you are a dominant player that continues to innovate and provide a good deal, customers will stay with you.
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If you're going to be a great guide to what's great for consumers, and, indirectly, for investors, you've got to be very careful about who you contract with and what you're offering.
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We can't know in advance what history is going to say, but I would be utterly amazed and surprised if this entire adventure, this entire Iraqi invasion from the beginning of its inception, were not judged to be an utter failure and a terrible, terrible thing for the world.
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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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It is a myth that higher taxes lead to less demand and slower growth. In the first three decades after World War II, US top tax rates on the wealthy were never below 70 percent.
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When corporations get special handouts from the government, subsidies and tax breaks, it costs you. It means you have to pay more in taxes to make up for these hidden expenses, and government has less money for good schools and roads, Medicare and national defense and everything else you need.
Robert Reich