The real engine of inequality is structural: corporate and financial practices that concentrate wealth among shareholders while shortchanging other stakeholders who should be benefiting from corporate profits.
California's proposed wealth tax targets billionaires, but the real issue lies in corporate practices that concentrate wealth. Structural reform is key.
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At www.commondreams.org
Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.
His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
http://www.americaisnotbroke.net/
Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)