Payday lending is inherently predatory and private equity is turbocharging its abuses, enlarging the burden it places on low-income individuals and borrowers of color.
Attacking inflation by hiking interest rates is not addressing the real situation and cause. We should be hiking tax rates on corporations engaged in price gouging and profiteering.
The United States sits in a wealth class all its own, boasting 39.2 percent of the world’s millionaires. China sits second, at 9.9 percent, with Japan third at 5.4 percent.
Happy tax times — for the rich — don’t come carved in stone. Tax laws can and do change. Public anger can increase the tax-auditing pressure on grand private fortunes.