The rest of the world isn’t ripping off the U.S. The American trade deficit is the result of chronically large budget deficits resulting from tax cuts for the rich combined with trillions of dollars wasted on useless wars.
The financial response to the pandemic lies with the digital giants, the champions of tax evasion, writes Léonce Ndikumana. He also recommends raising taxes on companies benefiting from the virus, such as the pharmaceutical sector.
You see, there has been a class war going on for years – perpetrated by the rich (who aren’t smarter or better) against everyone else.
Exclusive: Not even five months into his presidency, Donald Trump has retreated from key populist promises by moving to slash taxes on the rich and throw millions of Americans off health insurance, writes Jonathan Marshall.