Osher 2021 Session Three: Economic Inequality: Collins/Reich cheat-sheet



Prescriptive Ideas to Reduce Inequality

Chuck Collins, “Reversing Inequality: Unleashing the Transformative Potentials of an Equitable Economy,” The Next System Project, 2017

1. Rule Changes that lift the floor
• minimum wage set at living wage level
• universal health care
• robust labor standards and protections
• free access to universal education, lifelong learning, job retraining
• job guarantee
• adequate and compassionate welfare support

2. Rule changes that level the playing field
• investments in education
• reductions of money in politics
• revision of free trade policies

3.Rule changes that deconcentrate wealth = tax the top
• restore progressive taxation
• eliminate tax preference for income from wealth (capital gains)
• higher inheritance taxes
• eliminate caps on social security taxes
• break-up mega banks with expansion of community and public banking
• end policies that make banks “too big to fail”

 Revamp CEO pay and corporate incentive systems
• eliminate taxpayer subsidies for excessive executive pay
• penalize companies for excessive CEO/worker pay gaps

4. Rule changes that rewire the system
• broader ownership and worker ownership of enterprises
• policies and institutional that better balance corporate and public interest
• transparent financial system
• creation of network of state and local level public banks
• creation of national infrastructure and reconstruction bank
• taxation on financial speculation
• federalizing the corporate charter
• banning corporate influence in our democracy
• establishing accountability to a wider set of stakeholders
• expanding the benefit corporation sector



Robert Reich, “How to Shrink Inequality,” The Nation, May 2014

Ten Ideas to Reduce Inequality
• make work pay = minimum wage
• unionize low paying wages
• invest in education
• invest in infrastructure
• higher taxes on wealthy
• make payroll taxes move progressive
• raise the estate tax
• constrain wall street, bring back Glass-Steagle, cap bank size
• give Americans a share in economic gains = public share of stocks given at birth
• get money out of politics

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