In December 2017 the Congress approved and the President signed into law the Tax Cuts and Jobs Act.
Author Archive | Martin Hart-Landsberg
Public school teachers in West Virginia, Oklahoma, Kentucky, and Arizona have won meaningful salary gains for themselves, and in several cases other school workers, and real although limited increases in education spending.
While those at the top of the income pyramid continue to celebrate economic trends, the great majority of working people continue to struggle to make ends meet
There is a lot of concern over the possibility of a trade war between China and the US. In early April President Trump announced that his administration was considering levying $100 billion of additional tariffs on Chinese exports, after the Chinese government responded to a previously proposed U.S. tariff hike on Chinese goods of $50 […]
Understandably concerned about the consequences of the large and sustained U.S. trade deficit, many workers have grown tired of waiting for so-called market forces to produce balance. Thus, they cheer Trump administration promises to correct the imbalance through tariffs or reworked trade agreements that will supposedly end unfair foreign trade practices.
It happened gradually, but thanks to the U.S. media, economic news has largely been reduced to stock market reporting. Want to know how the economy is doing? Check the S&P 500 Index. Want to know whether the latest Trump proposal is good or bad? Check the S&P 500 Index.
The decline in the payroll share of output is class power at work: unfortunately theirs, not ours.
On January 23, Hyun Lee, the managing editor of ZoominKorea, and I spoke at a UCLA Center for Korean Studies sponsored event titled “North Korea in the Age of Trump.” I went first, offering a critical perspective on U.S. foreign policy towards Korea, North and South. Hyun Lee then talked about the importance of Science […]
The current expansion has gone on for 102 months. Only the expansions from March 1991 to March 2001 (120 months) and from February 1961 to December 1969 (106 months) are longer. Unfortunately, growth during this expansion has been slow and the gains have largely gone to a very few. And there are signs of economic […]
A recently published paper by three Yale scholars reveals “that Americans, on average, systematically overestimate the extent to which society has progressed toward racial economic equality, driven largely by overestimates of current racial equality.”
People tend to have a distorted picture of U.S. capitalism’s operation, believing that the great majority of Americans are doing well, benefiting from the system’s long-term growth and profit generation. Unfortunately, this is not true. Median wealth has been declining, leaving growing numbers of working people increasingly vulnerable to the ups and downs of economic […]
No doubt about it, the recently passed tax bill is terrible for working people. But as Lance Taylor states in a blog post titled “Why Stopping Tax ‘Reform’ Won’t Stop Inequality”: “Inequality isn’t driven by taxes—its driven by the power of capital in relation to workers.” Said differently we need to concentrate our efforts on […]
Martin Hart-Landsberg takes a look at the tragedy of what life is like for the working class. Allowing for us to directly see what we already know, that US capitalism works to enrich the few at the expense of the many.
Tensions between the US and North Korea are again rising in the wake of North Korea’s November 28th test of an ICBM that experts believe has the potential to deliver a nuclear bomb to cities on the east coast of the US, including Washington D.C.
The North American Free Trade Agreement (NAFTA) is unpopular with many working people in the United States, who correctly blame it for encouraging capital flight, job losses, deindustrialization, and wage suppression.