edit: format of quotes

This week’s episode of Economic Update hosted by Professor Richard Wolff, we discuss Germany’s recession, California fast-food workers unionize, How the war in Ukraine boosts US stock market, corporate stock holdings, while hurting most wage/salary incomes, In addition we ask what lessons from the protest/revolt of European farmers? Finally, the ongoing exposing of major injustices of the US federal tax system (tax exemptions for schools, churches, hospitals, and charities and social security’s flat tax system)

Timestamps:

• 01:34: Discussion on German economy, California worker organizing, Ukraine war impact, and European farmer protests.
• 4:59: Impact of sanctions on German energy dependence on Russia.
• 9:26: Victory for Fast Food Workers: New Union Secures $20 Minimum Wage and Job Protections
• 13:56: Government’s tax policies favoring farmers and compromising environmental safety to address rising food prices.
• 17:56: Challenges faced by early settlers in New England due to taxation disparities for churches.
• 22:35: Tax exemption for religious institutions leads to unfair burden on individuals and taxpayers.
• 27:11: Tax loopholes benefit the rich, perpetuating wealth inequality and shifting tax burden to others.