In a series of startling studies, psychologists at the University of California at Berkeley have found that “upper-class individuals behave more unethically than lower-class individuals.” Ongoing research is trying to find out what it is about wealth — or lack of it — that makes people behave they way they do. Paul Solman reports as part of his Making Sen$e series. Continue reading
Redistribution has not spread the wealth, it has concentrated the wealth. Conservative estimates say the richest 1% have doubled their share of America’s income in 30 years. It’s worse. From 1980 to 2006, the richest 1% actually tripled their share of after-tax income.
The real problem is tax avoidance: lost revenue from tax expenditures (deferrals and deductions), corporate tax avoidance, and tax haven losses could pay off the entire deficit. But the very rich refuse to pay. They have their own safety net in the House of Representatives. Continue reading