The Politics of Wealth and Poverty in November's Elections

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Republicans in the House and the Senate are moving to cut the inheritance tax while refusing to increase the minimum wage. Some Democrats call that an "obscene" combination, which ought to help them in November. Republican leaders say they're protecting economic expansion and safe-guarding low-level jobs. What do the polls show about issues of rich and poor? Will they unite Americans behind "basic fairness" or divide the electorate by inflaming class-consciousness? We speak with journalists, business experts, economists, pollsters, Democratic and Republican political strategists about what one Democratic leader calls, "the ultimate values debate." Making News: Supreme Court Divided on Campaign Finance Law, Death PenaltyThe US Supreme Court is wrapping up this year's session with some major decisions. Today, the justices divided on campaign spending limits and capital punishment. Warren Richey, who writes on the Court for the Christian Science Monitor, and Charlie Savage, who covers legal affairs for the Boston Globe, have more on today's decisions.Reporter's Notebook: Warren Buffett Gives It All AwayIn an exclusive interview, Warren Buffett has told Fortune magazine he'll donate most of his own fortune to the Bill and Melinda Gates Foundation. In another exclusive, both men will appear together tonight with Charlie Rose on PBS. Buffett's promise of $31 billion will double the Gates' Foundation's current assets to $60 billion. Jim Ferris is director of USC's Center on Philanthropy and Public Policy, which calls the donation the biggest such gift in history.
Republicans in the House and the Senate are moving to cut the inheritance tax while refusing to increase the minimum wage. Some Democrats call that an "obscene" combination, which ought to help them in November. Republican leaders say they're protecting economic expansion and safe-guarding low-level jobs. What do the polls show about issues of rich and poor? Will they unite Americans behind "basic fairness" or divide the electorate by inflaming class-consciousness? We speak with journalists, business experts, economists, pollsters, Democratic and Republican political strategists about what one Democratic leader calls, "the ultimate values debate."
  • Making News: Supreme Court Divided on Campaign Finance Law, Death Penalty
    The US Supreme Court is wrapping up this year's session with some major decisions. Today, the justices divided on campaign spending limits and capital punishment. Warren Richey, who writes on the Court for the Christian Science Monitor, and Charlie Savage, who covers legal affairs for the Boston Globe, have more on today's decisions.
  • Reporter's Notebook: Warren Buffett Gives It All Away
    In an exclusive interview, Warren Buffett has told Fortune magazine he'll donate most of his own fortune to the Bill and Melinda Gates Foundation. In another exclusive, both men will appear together tonight with Charlie Rose on PBS. Buffett's promise of $31 billion will double the Gates' Foundation's current assets to $60 billion. Jim Ferris is director of USC's Center on Philanthropy and Public Policy, which calls the donation the biggest such gift in history.

Randall v Sorrell (Vermont), US Supreme Court on

Kansas v Marsh, US Supreme Court on

Minimum Wage, US Department of Labor on

Increase in Federal Minimum Wage (S Amdt 4322)

Permanent Estate Tax Relief Act of 2006 (HR 5638)

Minimum wage, St Louis Post-Dispatch on

Buffett's interview in Fortune magazine

Buffett's letters regarding his giveaway of stocks

Gates Foundation responds to Buffet's announcement

Buffett and Gates on The Charlie Rose Show

Credits

Host:

Warren Olney