FROM Eric Schoenberg
The Age of Outrage in Europe and America Multibillion-dollar investor Warren Buffett has made headlines by suggesting that he and other rich people pay too little in taxes. In this Sunday's New York Times, columnist Roger Cohen wrote that "a feeling has grown in Western societies that uncontrollable forces are at work shrinking possibility. "History," he said, "has never seen a global power shift as radical as the current one that managed to be peaceful." We hear a lively debate.
The Age of Outrage in Europe and America In Britain, Greece and elsewhere in Europe, outbreaks of street violence have disrupted the usual tranquility of spring and summer. The combination of high unemployment and new austerity measures is creating a loss of hope in the future among young people. Sound familiar? Multibillion-dollar investor Warren Buffett has made headlines by suggesting that he and other rich people pay too little in taxes. Are countries in the developed West facing a crisis of confidence? On both sides of the Atlantic, the gap between the rich and the rest of the population is growing fast. Is the work ethic losing its currency? Is it time for the rich to pay more taxes and share what they have or face an outbreak of class warfare?
Taxing the Multinationals One economics editor says Washington has been running a " fiscal clown show " for the past 10 years by spending more and taxing less. The report that General Electric earned more than $5 billion in profit while paying no taxes at all focused attention on multinational corporations. We hear how they do it, using laws approved by both parties in Congress that allow them to keep their money overseas. Congress could change those laws to help pay down the deficit. Should the world's super-power use its clout to get corporations to pay their fair share?
Wealth Inequality in America Whether Washington allows a federal shutdown or not, massive cuts are being made in federal programs for the poor and the hungry. Last week, New York Times food-writer Mark Bittman and 4000 others associated with a group called Bread for the World fasted to focus on increased suffering that will barely make a dent in the deficit. They also pointed to growing inequality, with the richest 400 people now owning more wealth than 50 million American households combined. But, is it government's job to level the playing field? We hear from Bittman, an investment banker who wants to pay more taxes, economist and and others.
Should we 'hack the climate' to fight global warming? The Paris Agreements won't be enough to reverse global warming, whether President Trump pulls the US out or not. Is it time to try altering the atmosphere by what's called "geoengineering?" We hear about unintended consequences, international relations… and ethics.
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.
Russian probe gets jolt from Yates and Clapper Senate hearing Intelligence officials have long since concluded that Russia interfered in last year's US election. After yesterday's Senate Judiciary Committee hearing, what more do we know about the threat to future elections and how it's being handled by the Trump Administration?