The 1% experiences income growth while the 99% struggles

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Incomes Flat in Recovery, but Not for the 1%

By 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 [...]

The Betrayal of America’s Middle Class Was a Choice, Not an Accident

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Wednesday, 03 October 2012 By Amy B Dean, Truthout | Op-Ed

An Interview With Authors Donald Barlett and James Steele. 

(Photo: Mike Hiatt / Flickr)The outsourcing of good jobs, the elimination of pensions, rampant home foreclosures; skyrocketing higher education costs and mounting debt: Given these stark realities, the American middle class seems to be sinking fast. The renowned reporting team of Donald Barlett and [...]

Income Inequality and the Great Crash of 2008

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—By 

|| Wed Oct. 3, 2012 9:13 AM PDT ||

I’ve mentioned before my rough-and-ready theory of the 2008 financial crisis:

  • Income inequality goes up.
  • As a result, earnings of the middle class become sluggish….
  • And earnings of the rich skyrocket, a trend reinforced by lower tax rates on both labor and capital income.
  • Rich people eventually run out of sensible things to invest all [...]
  • Jon Stewart and ‘The Daily Show’ Take on Mitt Romney and the 47 Percent… Of Course

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    Wednesday, September 19, 2012

    Laurel Brown Senior Writer, BuddyTV

     

    There are only a few things in this world we can depend on. Death. Taxes. Jon Stewart skewering a presidential candidate who makes a potentially career-ending statement on camera.So obviously Jon Stewart had to talk about Mitt Romney’s 47-percent statement on The Daily Show. What other choice did he have? And what other hilarious, insightful [...]

    Do the rich really pay an unfair share?

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    Misconceptions and Realities About Who Pays Taxes

    By Chuck Marr and Chye-Ching Huang || Updated September 17, 2012 || Center on Budget and Policy Priorities

    Executive Summary

    Close to half of U.S. households currently do not owe federal income tax.  The Urban Institute-Brookings Tax Policy Center estimates that 46 percent of households will owe no federal income tax for 2011. [1]   A widely cited figure [...]

    A Guide to Statistics on Historical Trends in Income Inequality

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    By Chad StoneHannah ShawDanilo Trisi and Arloc Sherman ||

    Some very interesting data compiled by the Center on Budget and Policy Priorities….

    The broad facts of income inequality over the past six decades are easily summarized:

    • The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity.
      • Incomes grew rapidly and at roughly [...]

    Data & Statistics on Inequality

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    Thank you to the folks at Inequality.org for providing this great information!

    Inequality data and statistics give us an important insight into the state of our economy and the health of our society.

    In this section, we offer quick takes on economic inequality, as categorized in five key areas: income, wealth, global, health, and racial. In each category, we chart some inequality statistics and discuss the basic [...]

    Elizabeth Warren attacks Romney’s policies for middle class

    Elizabeth Warren, candidate for the U.S. Senate in Massachusetts, addresses the second session of the Democratic National Convention in Charlotte

    September 05, 2012|Samuel P. Jacobs | Reuters

    CHARLOTTE, North Carolina (Reuters) – Locked in one of the costliest and most consequential statewide contests in the country, Elizabeth Warren largely ignored her own campaign Wednesday night to paint President Barack Obama as a populist up against a Republican who has sided with plutocrats.

    A candidate for the U.S. Senate in Massachusetts, Warren was chosen by the Democratic Party to appear on [...]

    Romney and Ryan’s Economic Plan

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    How Romney Keeps Lying Through His Big White Teeth By Robert Reich

    Tuesday August 28, 2012

    “We’re not going to let our campaign be dictated by fact-checkers,” says Neil Newhouse, a Romney pollster.

    Presumably the Romney campaign continues its false claims because they’re effective. But this raises a more basic question: How can they remain effective when they’ve been so overwhelmingly discredited by the media?

    The answer is the [...]

    The Importance of A Federal Minimum Wage

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    – By Jeff Brittain

    A Federal minimum wage was first set in 1938 by The Fair Labor and Standards Act.  The minimum wage is meant to be a tool for combating poverty and preventing unfair wages, however, some scholars and economists doubt its effectiveness and some even argue it has more negative effects than positive. Despite this, most scholars have accepted the minimum wage as part of our [...]