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Economic Justice

Reich's Income Plan

Robert Reich (as well as Paul Krugman) claim that the bottom 90% of Americans don't have adequate purchasing power to stimulate the economy to create needed jobs. Reich's plan is to shift $600 billion dollars from the top 5% in income through higher taxes to the bottom 95% of Americans. In addition Professor Reich needs to get another $210 billion dollars the first year from a $35 tax on a metric ton of carbon dioxide. This tax on carbon dioxide will be raised gradually to $115 dollars a metric ton over a few years and then bring in $600 billion dollars yearly and raise the price on gasoline $1 a gallon and on electricity 6 cents a kilowatt-hour according to Dr. Reich. (pages 129 to 132)

(More details to follow.)

Mandating Income

Regarding income, America could easily get about $500 billion dollars yearly without taking a penny away from anyone for American renewable energy independence. According to the 2007 SCF, the top 10% of American households in 2007 had $4.7 trillion dollars in income and 11.61 million households. If we the people united for Economic Justice, we could require Congress mandate the top 10% to 15% in income invest 10% of their pretax income to weatherize, solarize and geothermalrize their houses and in needed renewable energy businesses. This $500 billion dollars yearly stimulus would significantly create needed jobs, energy security, a healthy climate and meaningfully rebuild our infrastructure. Pay back from their investments would be about 10 years, and they might also even make fortunes if they invest wisely in renewable energy businesses."

Below (and above) are areas to be developed

Carbon Tax

Other aspects of Economic Justice includes a carbon tax that is immediately returned to all the people equally as James Hansen of Columbia recommends who is also Director of the NASA's Goddard Space Center.

Taxing Wealth

Regarding wealth, Edward N. Wolff recommends a tax on net-worth in his book, "Top Heavy". The justification from 2007 SCF and Wolff is to follow.

Sharing Wealth

Then their is binary economics as proposed by Luis Kelso and his proposed ESOP (Employee Stock Ownership Plan).

Capping Wealth

the Persistence of Poverty by Charles Karelis (2007) Chapter 8 "Economic Justice Reconsidered pages 153 to 163

Works by Luis Kelso

Works by Sant Rajinder Singh

Works by James Hansen

"Works by Ralph Nader"

External links

example.com