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The Tax Code: Class Warfare

Program #WOLR005. Recorded in New York, NY on December 29, 2011.

Audio sample:

People dread taxes. The tax code is a labyrinth few citizens dare to enter save for the rich and powerful who hire lawyers and accountants to figure out ways to game the system. One corporation paid $26,000 a year to maintain a post office box in Bermuda as its legal HQs. That little trick saved them $40 million in corporate taxes. Not bad. Taxes on the wealthy used to be high. During the Eisenhower years in the 1950s, a fairly conservative period which saw tremendous economic growth, the tax rate for the haves was 91%. Today it's a third of that and few actual pay that much. In true Orwellian fashion if you raise these issues you are accused of class warfare. There is class warfare all right. It's been successfully waged by the affluent 1% against everybody else. Interviewed by David Barsamian.  

Speaker(s):

Richard Wolff

Richard Wolff teaches at the New School in New York. The New York Times called him “America’s most prominent Marxist economist.” He is the author of numerous books including Capitalism Hits the Fan, Democracy at Work and Occupy the Economy with David Barsamian.

 

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