Chelsea Green Publishing

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Hedge Fund Gamblers Earn the Same In One Hour As a Middle-Class Household Makes In Over 47 Years

by Les Leopold, author of The Looting of America

We live in a very, very rich country. Yet we seem to be utterly consumed by a collective hysteria that we’re about to go broke. Historians are certain to look back at this period and wonder why the richest country in history consumed itself in a struggle over how many teachers to fire.

How rich are we?

Just take a look at the latest reports on what the top hedge fund managers haul in. In 2010 John Paulson led the list with a record $4.9 billion in personal earnings. That’s a whopping $2.4 million an HOUR. Here’s a factoid to make you wretch: It would take the median US household over 47 years to earn as much as Paulson pocketed in just 60 minutes. And, every hedge fund manager pays a lower tax rate than the average family. The top 25 hedge fund earners took in $22.07 billion in 2010. Thanks to a generous tax loophole these billionaires will pay a top tax rate of 15 percent instead of 35 percent. Closing that loophole on just those 25 individuals – just 25 guys who wouldn’t miss a penny of it — would raise $4.4 billion, which is enough to rehire 126,000 laid-off teachers. Wait a sec. This is America, not Russia. Don’t we want our entrepreneurs to go out there and earn as much as possible? We don’t want to punish the successful who are building up our economy, do we? Continue reading this article at Alternet. The Looting of America by Les Leopold is available now.


The Future Is Hopeless, So Give it Your All

The never-ending national election in the United States, the “surprise” pro-Brexit vote in the United Kingdom, climate change … the list goes on and on about how easy it can be to lose hope in the future.Like many of life’s frustrations, or overwhelmingly large topics, most people in our society find themselves somewhere on the […] Read More

How Carbon Farming Can Save the Planet

Carbon farming alone is not enough to avoid catastrophic climate change, but coupled with new economic priorities, a massive switch to clean energy, and big changes to much of the rest of the way our societies work, it offers a pathway out of destruction and a route to hope.Along the way carbon farming can also […] Read More

Look Under Your Feet for Global Soil-utions

For several years, Chelsea Green has been publishing books that look under our feet for solutions to some of the most vexing problems facing the planet – hunger, drought, degraded farmland and grasslands, damaged waterways, and much more. Those books focus on (mostly) one thing: Soil.  In 2016, we’ve published two more important books that […] Read More

Climate Change & the End of Stationarity

Just as predicting the rise of Donald Trump as a leading presidential candidate stumped even the best of political analysts (looking at you Nate “FiveThirtyEight” Silver), the advent of the Sixth Great Extinction due to climate change and an increasingly potent mix of carbon dioxide in the atmosphere has completely upended how we predict the […] Read More

Use Simple Games to Better Understand Climate Change

How is it that emissions keep growing despite rising concern about the climate change they cause? It is possible to identify several reasons for the paradox, most of which lie outside the scope of The Climate Change Playbook. But one important reason is relevant here: people do not understand the behaviors of the climate system.And […] Read More
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