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.
Robert ReichIt 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.
Robert ReichLiberals are concerned about the concentration of wealth because it almost inevitably leads to a concentration of power that undermines democracy.
Robert ReichWe're now moving toward a radically different economy. You absolutely can't have a distribution oligopoly. The new oligopolies - and I think there will be new oligopolies - will be oligopolies of trustworthiness. Microsoft, Amazon, Schwab, and other brands will dominate psychic space, not shelf space.
Robert Reich