Economic Update: Finally A Tiny Sales Tax on Stocks

d@w Contributor:

March 22, 2021

[S11 E11] New

On this week's show, Prof. Wolff talks about the taxing of CEO pay in the US, the immoral and self-defeating vaccine policy, and LeBron James speaking out on social issues. On the second half of the show, Prof Wolff interviews attorney James S Henry on the struggles for a stock transfer tax in New York, the US and globally.

About our guest: James S. Henry is a leading economist, attorney, investigative journalist, and activist with a strong focus on tackling global justice issues like tax justice and the climate crisis.

In the private sector, Mr. Henry has served as Director of Economic Research (chief economist), McKinsey & Co.; VP Strategy, IBM/Lotus Development; Business Development Manager, Chairman's Office (Jack Welch), GE; and Senior Consultant, Monitor Company.

He is founder of Sag Harbor Group, a strategy firm that has served such leading clients as ABB, Bell Labs, Charles Allen & Co., Calvert Fund, Cemex, China-Trust, the Joint Caribbean Task Force (Scotland Yard/FBI), IBM/Lotus, the Rockefeller Foundation, the Swedish Power Board, TransAlta, Volvo, and Daikin.

In the public sector Mr. Henry is a Global Justice Fellow at Yale, where he teaches a seminar on "Global Justice Problems." He is also a Senior Fellow at Columbia University's Center for Sustainable Investment, a Senior Advisor to the Tax Justice Network (2005-) and a Board Member of Amnesty International USA. He has also been an active pro bono environmental and constitutional lawyer in New York’s EDNY.

In investigative journalism, Mr. Henry has written numerous articles and several books about international private banking, offshore havens, debt, capital flight, and development, and has conducted first-hand investigations in dozens of developing countries. He was the principle author of The Price of Offshore Revisited (July 2012, TJN), a seminal work on offshore wealth whose estimates have recently (June 2020) been validated by the OECD. His first-hand reporting has appeared in many leading publications, including the New York Times, the Washington Post, the Wall Street Journal, Business Week, the Nation, the New Republic, The Financial Times, the Economist, Jornal do Brasil, the Philippines Inquirer, La Nacion, El Pais, and The American Interest, where he is a Contributing Editor. In 2010 he was the Edward R. Murrow Fellow in Investigative Journalism at The Fletcher School of Diplomacy. In 2019 he was a Poynter Fellow in Journalism by Yale University.

Mr. Henry has testified several times before the US Congress on economic policy issues, and has been a featured speaker on TED talks, the BBC, NPR, and other international radio and TV outlets. He contributed to investigative documentaries by the BBC, Australia ABC, Netherland's Zembla, ZDF, Amazon Prime ("The Giant Beast That Is the Global Economy,'" 2019), and several successful independent documentary films, including "The Price We Pay" (TIFF, 2014); and "We're Not Broke" (Sundance, 2013). Born and raised in Minnesota, Mr. Henry is an honors graduate of Winona Public High School, Harvard College (Magna Cum Laude, Social Studies ’72; Detur Prize; Phi Beta Kappa, National Merit Scholar, Chairman, Institute of Politics, SAC); Harvard Law School (JD.,Honors,1976); the Harvard Graduate School of Arts and Sciences (MS, James S. Henry CV – August 2017 ABD, Economics, 1978);Danforth Fellow; “Nader Raider;” and a member of the New York Bar since 1979. He and his two children live in New York City and Sag Harbor, New York.

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Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself," now available. Visit us at www.democracyatwork.info/books

"Richard Wolff in his new book examines frightening and anti-democratic configurations of corporate power, offering not only a blueprint for how we got here, but a plan for how we will rescue ourselves and create new models of economic and political justice.” - Chris Hedges

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SOURCES FOR SHOW SEGMENTS:

Taxing of CEO pay:

Vaccine policy:

Medicalxpress.com

Lebron James on social issues:

Bleacherreport.com