March 1, 2015
Rick Scott, And Amassing Personal Wealth In Health Care
Should someone, let’s say for example, Florida Governor Rick Scott, be able to amass great personal wealth working in the field of health care?
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January 29, 2014
The Supply Side Lie
Post war until roughly the 1970s, increases in income in all quintiles more or less moved together. The bottom quintile increased with the top quintile. Since the 70s, the top two quintiles continued to grow, with the top quintile actually accelerating (although to be fair, it corrected/adjusted during the Great Recession, but only modestly). But since the 1970s, the bottom three quintiles have been pretty much flat.
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January 24, 2014
Economic Inequality Is A Clear And Present Danger To American Democracy
The phrase “clear and present danger” is the standard by which freedom of speech can be abridged. As the saying goes, nobody has the right to shout “fire” in a theater. The United States Supreme Court began citing this standard in 20th century rulings, reaffirming that freedom of speech stops at the point where it puts pubic safety in peril. The idea is controversial, but it should be understood that constitutional rights are not absolute. Whether you agree with this standard as it applies to freedom of speech, is of little importance here. It only matters that you understand what it means, because economic inequality is a clear and present danger to American democracy.
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January 23, 2014
Pew: Most Republicans Believe Poor Just Aren’t Working Hard Enough
This should come as no surprise, but a Pew study released today shows most Republicans believe you are poor because you choose to be poor. Or in other words, the poor are simply not working hard enough. This of course echoes the sentiments of Kevin O’Leary, who I wrote about yesterday. He’s the fat cat who said it’s “fantastic” that 85 people own the same wealth as 3.5 billion people (half of Earth’s population).
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January 22, 2014
VIDEO: Canadian Businessman Says It’s ‘Fantastic’ 85 People Have More Wealth Than Billions In Poverty
Canadian Businessman, TV host, and “Asshat of the Year” winner (and that’s impressive because it’s still only January) Kevin O’Leary says that it’s “fantastic” that the richest 85 people have more wealth than half the population on planet Earth. The video is worth watching just to see the reaction by O’Leary’s co-host, Amanda Lang.
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January 19, 2014
The Rich Are Rich Because They Deserve It? Krugman Responds To Brooks
Is the affluence of the wealthiest Americans entirely earned, or is there a level of luck, timing, and in some cases, family inheritance involved? Or to ask it a different way, can people honestly make the case of one human being that is deserving of such massive wealth (like that of the .01%) on the merits of his or her productivity? Is there any single human being who deserves to be worth more than the combined wealth of millions of fellow citizens?
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January 14, 2014
How Does Wealth Inequality Affect The Average American?
How does wealth inequality affect the average American? After all, for those of us fortunate enough to make a decent living, why should it matter that there are a select few in society making astronomical sums of money?
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January 13, 2014
Talking Absolutes: The Language Of Free Market Conservatives
Free market conservatives say government cannot address the problem of poverty. They say government can’t create jobs. They assume all people who are not making a living wage must not be working, or working hard enough, and so that means they are undeserving of any government assistance. And they say government cannot give to someone unless it has taken from someone else.
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January 5, 2014
VIDEO: Union Decline and Income Inequality (1979-2009)
Direct “smoking gun” proof of income inequality fueled by union membership decline is probably impossible. But we sure can find plenty of correlating evidence that indicates a strong likelihood that union decline is at least related to wage stagnation and greater economic inequality, if not the direct catalyst.
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December 3, 2013
Robust Consumer Demand Creates Jobs, And Jules From Pulp Fiction Agrees
You know what I’ve had just about enough of? Pipe dreams sold to the masses by the narcissism fueled by greed and wealth. Or in other words, I’m tired of hearing the phrase “job creators” and I’m both fatigued and annoyed every time I hear someone say the wealthy create jobs. And I’m overcome by a fierce rage when I hear yet another gutless politician say we need to give more tax breaks to companies and individuals who are already hoarding large sums of cash so that maybe, just maybe out of the kindness of their gold lined hearts they might see it fit to create a job or two. But oh yeah, then reality intrudes, and I’m reminded that they aren’t going to create those jobs if there isn’t the demand to justify those positions in the first place.
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