Inequality

Uniting For A Green New Deal

January 13, 2019 Margaret Flowers and Kevin Zeese, Popular Resistance. Newsletter Climate Change, Green New Deal, Inequality, Jobs and Wages, Wars and Militarism

Support is growing in the United States for a Green New Deal. Though there are competing visions for what that looks like, essentially, a Green New Deal includes a rapid transition to a clean energy economy, a jobs program and a stronger social safety net. We need a Green New Deal for many reasons, most obviously the climate crisis and growing economic insecurity. Each new climate report describes the severe consequences of climate change with increasing alarm and the window of opportunity for action is closing. At the same time, wealth inequality is also growing.

Yellow Vest Movement Holds 9th Act, Macron Pledges National Dialogue

January 13, 2019 Kevin Zeese, Popular Resistance Resist! France, Inequality, Yellow Vest

On January 11, 2019, the Yellow Vest Movement continued its Saturday protests in their 9th Act since they began in mid-November. Tens of thousands of yellow vest protesters marched Saturday through Paris and other French cities for a ninth straight weekend to denounce President Emmanuel Macron's economic policies and for greater economic equality. Protesters walked peacefully through central Paris from the Finance Ministry in the east of the French capital to the Arc de Triomphe in the west. 80,000 security forces were used. French armored vehicles blocked protesters from going onto nearby Champs-Elysees Avenue. Sporadic violence broke out with police during protests in Paris, Bourges, Bordeaux, Rouen, Marseille, and Toulouse.

Do We Really Need Billionaires?

January 11, 2019 By Lawrence Wittner, Historynewsnetwork.org Educate! Inequality, New Economy, Ruling Class

In March 2018, Forbes reported that it had identified 2,208 billionaires from 72 countries and territories. Collectively, this group was worth $9.1 trillion, an increase in wealth of 18 percent since the preceding year. Americans led the way with a record 585 billionaires, followed by mainland China which, despite its professed commitment to Communism, had a record 373. According to a Yahoo Finance report in late November 2018, the wealth of U.S. billionaires increased by 12 percent during 2017, while that of Chinese billionaires grew by 39 percent. These vast fortunes were created much like those amassed by the Robber Barons of the late nineteenth century.

By the Best Definition, The Poverty Rate Should Be Tripled

January 10, 2019 By Paul Buchheit, Commondreams.org Educate! Inequality, New Economy, Poverty

The World Bank defines poverty as "pronounced deprivation in well-being," not only of material needs but also of health and education and security and public voice and the "opportunity to better one's life" and the "capability of the individual to function in society." Surveys of tens of thousands of people throughout the world found that "the poor did not focus on their material need; rather, they alluded to social and psychological aspects of poverty." The United Nations calls poverty the "denial of choices and opportunities, a violation of human dignity." It's not just a lack of money, but also the "lack of basic capacity to participate effectively in society."

Research Shows Affluent Americans Barely Recognize US Income Gap

January 8, 2019 By Anthony DiMaggio, Truthout.org Educate! Income, Income inequality, Inequality, New Economy, Ruling Class

A new report from the Federal Reserve highlights the bleak economic prospects for young Americans, concluding that millennials are in much worse financial shape than earlier generations (at the same age) in terms of their relative income and wealth. These findings are not encouraging for those concerned with the problem of growing inequality. Despite the rise of populist anger in President Trump’s USA, inequality received little attention in 2018 from both major parties. But make no mistake, the story of early 21st century US is one of record inequality – and a growing divide between two groups: the haves and the have-nots.

Ocasio-Cortez’s 70 Percent Top Tax Rate Is Moderate, Evidence-Based Policy

January 6, 2019 Kevin Zeese, Popular Resistance Educate! Income inequality, Inequality, Taxes

This week Rep. Alexandria Ocasio-Cortez told 60 Minutes that she believes the U.S. should consider taxing incomes above $10 million at a 70 percent rate. Understand what this means, up to $10 million would be taxed at the lower tax rates, but income above $10 million would be published at a 70 percent tax rate. Her recommendation is consistent with economics and the history of US taxation and should be seriously considered.

Resistance Is The Supreme Act Of Faith

January 2, 2019 Chris Hedges, Truthdig.com Educate! Inequality, Resistance

The struggle against the monstrous radical evil that dominates our lives—an evil that is swiftly despoiling the earth and driving the human species toward extinction, stripping us of our most basic civil liberties and freedoms, waging endless war and solidifying the obscene wealth of an oligarchic elite at our expense—will be fought only with the belief that resistance, however futile, insignificant and even self-defeating it may appear, can set in motion moral and spiritual forces that radiate outward to inspire others, including those who come after us. It is, in essence, an act of faith. Nothing less than this faith will sustain us.

Over Half Of Americans Delay Or Don’t Get Health Care Because They Can’t Afford It—These 3 Treatments Get Put Off Most

January 1, 2019 Shawn M. Carter, Cnbc.com Educate! Health Care, Inequality, Poverty

A nurse listens to a client's chest at the Spanish Catholic Center agency of the Diocese of Washington Catholic Charities. With open enrollment for many medical plans in full swing, health care is top of mind for millions of Americans. But health care is still too expensive for most: A majority of U.S. adults have to delay getting the care they need, or put it off completely, because they can't afford it, data from financial website Earnin shows.

Kentucky Is Making The Poorest Of The Poor Pay For Healthcare In 2019

December 29, 2018 By Nick Martin, Splinternews.com Educate! Health Care, Inequality, Kentucky, Poverty

Merry Christmas, happy New Year, and if you live in Kentucky, good luck going to the doctor. Starting Jan. 1, Kentucky will require all patients to make a copay when visiting the doctor, regardless of income or financial status. The mandate is part of the new set of state healthcare rules, an overhaul championed by Republican Gov. Matt Bevin. As detailed in a piece from the Louisville Courier-Journal, while most managed care companies waived copays for Medicaid patients in the past, Bevin’s new rules will forbid it.

The Decline Of African-American & Latinx Wealth Since The Great Recession

December 25, 2018 By Edward Wolff, VOX Educate! Inequality, Racism

While many studies have documented the wide disparity in income between whites on the one hand and African-Americans and Hispanics on the other, the gap in wealth is even greater. In seminal work on the subject, Oliver and Shapiro (1995) document and analyse the sources of the wealth differences between blacks and whites and discuss some of the deleterious effects of low wealth on the wellbeing of black families – including access to decent housing and education, poor health, lower longevity, and the like.

Real Roots Of Inequality Is Neoliberal Capitalism, Not Trade & Technology

December 17, 2018 By Jayati Ghosh, Project-syndicate.org Educate! Capitalism, Class Struggle, Inequality, Labor, Wages

New findings from the International Labor Organization show that workers across many advanced and emerging economies continued to miss out on the gains from growth in 2017. Rather than trotting out the usual suspects – trade and technology – it is time for policymakers to place the blame where it belongs. NEW DELHI – It’s now official: workers around the world are falling behind. The International Labor Organization’s (ILO) latest Global Wage Report finds that, excluding China, real (inflation-adjusted) wages grew at an annual rate of just 1.1% in 2017, down from 1.8% in 2016. That is the slowest pace since 2008.

Tackling Climate Change Means Addressing Inequality And Building Resilience To Climate Change

December 15, 2018 Staff, Gofossilfree.org Strategize! Climate Change, Inequality

The Gilets Jaunes movement sprung up in France, responding to a decision by the French government to increase taxes on fuel starting in 2019, officially to finance incentives for the purchase of electric vehicles. In reality, only a fraction of the money collected from the tax would have gone to finance green programs: most of this tax would’ve been used to bridge the gap in the budget that the cancellation of the tax on the highest incomes has created. Rather than holding accountable those most responsible for causing the climate crisis – for instance, French fossil fuel giant Total – the French government seemed to want to force the less privileged to pay for the consequences of climate change.

Tale Of Two Depressions

December 5, 2018 David F. Ruccio, Anticap.wordpress.com Educate! Capitalism, Inequality, New Economy

Mainstream economists continue to discuss the two great crises of capitalism during the past century just like the pillars of society performed in the brothel—a “house of infinite mirrors and theaters”—in Jean Genet’s The Balcony.* The order they represent is indeed threatened by an uprising in the streets, and the only question is: can they reestablish the illusion of control? The latest version of the absurdist economic play opens with Brad DeLong, who dons the costume of the liberal mainstream economist and argues that, while the Great Depression of the 1930s was far deeper than the Great Recession (what I have long referred to as the Second Great Depression), the recovery from the crash of 2007-08 was so mishandled that it casts a shadow over the U.S. economy in a way the first Great Depression did not.

What Does Inequality Cost The Average American? About $150K

December 4, 2018 By Sam Pizzigati, Otherwords.org Educate! Inequality, New Economy, United States

Belgian waffles. Belgian beers. Americans love ’em. But what Americans really need from Belgium has nothing to do with beer or breakfast treats. We need Belgium’s much more egalitarian distribution of wealth. The English philosopher Francis Bacon once long ago compared wealth to manure. Both only do good, Bacon quipped, if you spread them around. Belgium is spreading about as well as any nation on Earth, according to the Swiss bank Credit Suisse’s latest annual global wealth report. Why should Americans care about what’s happening in Belgium? The new Credit Suisse report at first doesn’t make that clear. On average, the Credit Suisse numbers show, Belgian adults hold less wealth than Americans.

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