Show Details for the week of August 22nd, 2016

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On The Monitor this week:
  • On the Cynicism of the Clinton Foundation with Ken Silverstein
  • On America’s Racial Wealth Divide with Josh Hoxie
More about this week’s guests:
ken-silverstein-675Ken Silverstein is a Washington, D.C. based investigative reporter. He wrote the piece “Shaky Foundations: The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends” for Harper’s Magazine. He just launched Washington Babylon, which features “shockingly true stories of political sleaze.” He is also a columnist for the New York Observer and a contributing editor to VICE. You can read his full bio here.
Quote: “This move by the Clinton Foundation is an acknowledgement that they shouldn’t have done it in the first place. Further, it’s outrageous that they are saying they won’t take foreign money — if Hillary Clinton wins. So, they will keep taking it if she loses — perhaps to facilitate Chelsea Clinton’s political career? This is clearly a totally cynical political move. If Hillary Clinton wins, which seems incredibly likely now, the Clinton Foundation would have served its purpose. It helped portray them as do-gooders while they used it to solidify their corrupt brand of politics on the country and enriched their cronies.”
Silverstein has reported: “It is beyond dispute that former President Clinton has been directly involved in helping foundation donors and his personal cronies get rich. Even worse, it is beyond dispute that these very same donors and the Clintons’ political allies have won the focused attention of presidential candidate Hillary Clinton when she served as Secretary of State. Democrats and Clinton apologists will write these accusations off as conspiracy mongering and right-wing propaganda, but it’s an open secret to anyone remotely familiar with accounting and regulatory requirements for charities that the financial records are deliberately misleading.”

josh-hoxieJosh Hoxie is the director of the Project on Opportunity and Taxation at the Institute for Policy Studies. Josh joined the Institute for Policy Studies in August 2014 heading up the Project on Opportunity and Taxation. Josh’s main focus is on addressing wealth inequality through the estate tax, a levy on the intergenerational transfer of immense wealth. Josh grew up on Cape Cod, Massachusetts and attained a BA in Political Science and Economics from St. Michael’s College in Colchester, Vermont.

Josh worked previously as a Legislative Aide for U.S. Senator Bernie Sanders of Vermont, the longest serving independent in Congressional history, both in his office in Washington, DC and on his successful 2012 re-election campaign.

According to a new report, it would take the average black family 228 years to accrue the same amount of wealth that white families have today. The report is called The Ever-Growing Gap: Failing to Address the Status Quo Will Drive the Racial Wealth Divide for Centuries to Come . Josh is one of the main authors. You can read analysis of the report here by Chuck Collins (senior scholar at the Institute for Policy Studies where he directs the Program on Inequality and the Common Good (www.inequality.org) and Dedrick Asante-Muhammed (director of the Racial Wealth Divide Initiative at the Corporation for Enterprise Development).

The report release coincided with the 2nd anniversary of the shooting death of Michael Brown by a Ferguson, MO. police officer, which spawned the Black Lives Matter movement and calls for racial justice across all segments of society. Here’s a summary of key findings within the report:

  • “If current federal wealth-building policies remain in place, it will take the average African-American family 228 years to amass the same amount of wealth that white families have today and it will take Latino families 84 years to reach that goal
  • “By 2043, when households of color will constitute a majority of the U.S. population, the racial wealth divide between white households and African- American and Latino households will have doubled from about $500,000 in 2013 to $1 million.
  • “The Forbes 400 will see their average wealth skyrocket to $48 billion by 2043—more than eight times the amount they hold today. During that same period, the average wealth for white families will increase by 84% to $1.2 million compared to $165,000 for Latino families (69% growth) and $108,000 for African-American households (27% growth).”

The Corporation for Enterprise Development and IPS call for a range of reforms to address the problem, including fixing an “upside down” tax system that currently doles out more than half a trillion dollars annually to help primarily wealthy households get wealthier, while providing almost nothing to lower-income households.

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One thought on “Show Details for the week of August 22nd, 2016

    In the studio « The Artful Dodger said:
    August 22, 2016 at 6:59 pm

    […] Getting ready for this week’s show […]

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