Incomes Flat in Recovery, but Not for the 1%
By ANNIE LOWREY Published: February 15, 2013
WASHINGTON — Incomes rose more than 11 percent for the top 1 percent of earners during the economic recovery, but not at all for everybody else, according to new data.
The numbers, produced by Emmanuel Saez, an economist at the [...]
Kind of a silly video, but worth a watch as it does lay out some of the primary causes of middle class decline in the U.S.
Check out more great info on inequality from inequality.org!
Wealth inequality can be described as the unequal distribution of assets within a population. The United States exhibits wider disparities of wealth between rich and poor than any other major developed nation.
We equate wealth with “net worth,” the sum total of your assets minus your liabilities.
Examples of assets: checking and savings accounts, vehicles, a home that [...]
By Dina Rasor | Posted On Truthout.org |
Two weeks ago, in part one of this two part series, I laid out the problems of the military, the Department of Defense (DoD) civilian, contractor and Congressional staff going through the “revolving door” and greatly blurring the lines between working for the military and lobbying for contracts for the military. There are many, many individuals who revolve through [...]
By Robert Reich |
I hope when he tells America how he aims to tame future budget deficits the President doesn’t accept conventional Wasington wisdom that the biggest problem in the federal budget is Medicare (and its poor cousin Medicaid).
Medicare isn’t the problem. It’s the solution.
The real problem is the soaring costs of health care that lie beneath Medicare. They’re costs all of us are bearing in [...]
By ROBERT H. FRANK
Like everyone else, government officials want to look good. That often leads them to enact policies that promote favorable movements in the indexes by which they are judged. But when those indexes are imperfect, bad choices often result. And that’s nowhere more evident than in economic policy.
By far the most visible official summary measure of individual economic well-being is per capita gross [...]
We are witnessing a frontal assault on the American way of life, and the prime target is the hard-working American family.
Seven young protesters arrested in Nashville last month recognized how much is at stake, and they did not hesitate to stand up for the rights of working people. Their civil disobedience brings to mind another fight for civil rights: the strike by the 1,300 sanitation workers of [...]
Politicians are all the same, Republican or Democrat, makes no difference anymore. Democrats want to tax and spend, Republicans want to protect their wealthy contributors. Who suffers, you might ask? Us, the ever-vanishing middle class. With all the talk going around about cutting budgets, not one of these politicians has mentioned cutting his salary, canceling their taxpayer-funded health care, giving up their freebies, like postage, state cars, gas, [...]
Why aren’t Americans being told the truth about the economy? We’re heading in the direction of a double dip – but you’d never know it if you listened to the upbeat messages coming out of Wall Street and Washington.
Consumers are 70 percent of the American economy, and consumer confidence is plummeting. It’s weaker today on average than at the lowest point of the Great Recession.
The Reuters/University [...]
SOME big American cities are flourishing as at no time in recent memory. Places like New York and San Francisco appear to be richer and more dazzling than ever: crime remains low, new arrivals pour in, neighborhoods have risen from the dead. New York is in the throes of the biggest building boom in 30 years, its population at an all-time high and climbing. Mayor