Tag Archives: economic inequality

An Economy for the 1%

Oxfam, 1/17/16

The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest. A global network of tax havens further enables the richest individuals to hide $7.6 trillion. The fight against poverty will not be won until the inequality crisis is tackled.

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together. This occurred a year earlier than Oxfam’s much publicized prediction ahead of last year’s World Economic Forum. Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years. This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century.

‘An Economy for the 1%’ looks at how this has happened, and why, as well as setting out shocking new evidence of an inequality crisis that is out of control.

Download the report at Oxfam

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Filed under Economy, Labor, Tax

For Sanders, National Security and Socialism Make an Odd Mix

by Emily Schultheis, The National Journal, 11/19/15

The White House contender tries to blend his standard campaign message with a more urgent one in the wake of the Paris terror attacks.

Bernie Sanders had two goals Thursday af­ter­noon when he stepped on stage for his ma­jor speech at Geor­getown: to fi­nally of­fer an ex­plan­a­tion of what he means when he de­scribes him­self as a “Demo­crat­ic so­cial­ist,” and to prove his bona fides on for­eign policy is­sues.

Try­ing to ac­com­plish them to­geth­er made for a slightly strange event with what felt like two dis­tinct parts—and that jux­ta­pos­i­tion high­lighted the chal­lenge Sanders has in jus­ti­fy­ing his usu­ally-sin­gu­lar fo­cus on eco­nom­ic-pop­u­list is­sues in the wake of the ter­ror­ist at­tacks in Par­is.

Sanders said that to him, Demo­crat­ic so­cial­ism means simply that the Amer­ic­an eco­nomy be­ne­fits not only the bil­lion­aires he fre­quently rails against.

“Demo­crat­ic so­cial­ism means that we must cre­ate an eco­nomy that works for all, not just the very wealthy,” he said.

Draw­ing on the leg­acy of Frank­lin Roosevelt and re­call­ing New Deal-era re­forms, Sanders said that people are only “truly free” if they have a sense of eco­nom­ic se­cur­ity. …

continue reading at The National Journal

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Filed under 2016 election, Economy, Labor, Tax, International - other, US President

If the economy was an airplane…

Kos-plane-teaser
Matt Wuerker, Daily Kos, 7/17/15:

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by | September 25, 2015 · 5:06 pm

‘Inequality Is a Choice’

by Nicholas Kristof, New York Times, 5/2/15

THE eruptions in Baltimore have been tied, in complex ways, to frustrations at American inequality, and a new measure of the economic gaps arrived earlier this year:

It turns out that the Wall Street bonus pool in 2014 was roughly twice the total annual earnings of all Americans working full time at the federal minimum wage.

You read that right: Just the annual bonuses for just the sliver of Americans who work just in finance just in New York City dwarfed the combined year-round earnings of all Americans earning the federal minimum wage…..

continue reading, follow links, at New York Times

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Filed under Economy, Labor, Tax