At what income does the middle class end and the rich begin? Hillary defined the rich as starting with incomes over $250,000. Bryce Covert, in an article, claimed that the middle class ends at $206,568. Why? Because this is the income that defines the start of the top 5% of income earners. The top 5% is … Continue reading Needed: A New Set of Income Tax Brackets
BY PHIL KOTLER – We just got the news that JP Morgan decided to raise CEO Jamie Dimon’s pay by 35 percent! He will take home $27 million for 2015! The JPMorgan directors think that Jamie is singularly responsible for the rise in their revenue and profits in 2015. Or they admit that a few … Continue reading Are CEO’s Overpaid? Ask Jamie Dimon!
BY PHIL KOTLER – Look at the picture below. What do you see? A manufacturing process, with no workers in sight. We humans have been replaced by robotic arms and artificial intelligence. Think of an Amazon distribution center. Most of the ordered books and goods are picked up by robotic arms and assembled near a … Continue reading The Robots are Coming! Will they eat our jobs?
by Philip Kotler Hillary Clinton’s stated recently that she will not raise taxes on the middle class. She will raise taxes only on the rich and super rich. But at what income does the middle class end and the rich begin? Hillary defined the rich as starting with incomes over $250,000. Bryce Covert, in an … Continue reading Needed: A New Set of Income Tax Brackets [A Response to the “$250,000 a Year Is Not Middle Class” Op-Ed by Bryce Covert]
People often ask me: “You are known as a marketing guru. Yet you just published a book called Confronting Capitalism. How is it that a marketing expert is writing about Capitalism?” I usually give two answers. First, I am a Ph.D. economist and I have spent many years studying how markets and marketing works. Marketing … Continue reading Phil Kotler on the Relationship between Marketing and Capitalism
We’ve just begun a partnership with Huffington Post – and we invite you to join us. It’s worth repeating why we’re doing this: Capitalism must evolve to serve the needs of all citizens, not just the very affluent. Our goal is to discuss the 14 Shortcomings of Capitalism and systematically analyze the problems and potential solutions. … Continue reading Our Partnership with Huffington Post – Join Us!
Many a bitter fight is waged over tax policy. How high should sales taxes go? How should we tax personal income? What deductions should be allowed? Should all income regardless of the source be treated the same? Most countries have a similar list of income classes: the poor, the working class, the middle class, the … Continue reading A Note on Progressive Taxation of Personal Income
Welcome! As you’re aware, we live in a time where rational voices are increasingly questioning the shortcomings of capitalism. A group of us are starting a new online-community called FIXCapitalism.com and I wanted to personally invite you to participate. My name is Phil Kotler, and I’m a professor at the Kellogg School of Management at Northwestern University. The community brings together business … Continue reading Introduction