Tag: income inequality

A Sweet New Century for America’s Most Privileged

The following article by Sam Pizzigati was posted on the Inequality.org website July 12, 2018:

America’s elected leaders haven’t ignored inequality since 2000. They’ve made it spectacularly worse.

Mitch McConnel, Paul Ryan, Donald Trump and Mike Pence celebrating GOP tax cut for the rich bill. Credit: Official White House Photo

The United States ended the 20th century on a roll — for the rich. Between 1973 and 2000, the nation’s most prosperous 1 percent tripled their incomes, after taking inflation into account.

The even more prosperous top tenth of that 1 percent did quite a bit better. Their incomes more than quintupledbetween 1973 and 2000, rising an amazing 414.6 percent.

And what about Americans of less exalted means, those stuck in the nation’s bottom 90 percent? Between 1973 and 2000, their incomes rose all of . . . 2.6 percent. Continue reading “A Sweet New Century for America’s Most Privileged”

Davos grapples with inequality

The following article by Michele Gilman, Venable Professor of Law, University of Baltimore, was posted on the Conversation website January 26, 2018:

This year’s World Economic Forum in Davos honored musician and philanthropist Elton John for his contributions to upholding ‘human dignity.’ AP Photo/Markus Schreiber

In accepting an award for his efforts to “uphold human dignity” at the 2018 World Economic Forum, musician and philanthropist Elton Johndecried economic inequality as “disgraceful.” Panelists at the invitation-only conference in Davos, Switzerland, hashed over inequality in line with its theme of “Creating a Shared Future in a Fractured World.”

And in a report released to coincide with the elite confab, the charity Oxfam reported that 82 percent of the wealth created globally last year went to the top 1 percent while the bottom half of humanity, 3.7 billion people, saw absolutely no gains in their wealth. Continue reading “Davos grapples with inequality”

Inequality on Apple’s doorstep: how the GOP tax bill could worsen the divide

The following article by Sam Levin was posted on the Guardian website December 15, 2017:

In Cupertino, the world’s most valuable company could reap enormous benefits from Republicans’ plan – even as the measure threatens sorely needed affordable housing and healthcare benefits for local residents

Hector Chavez and Yvonne Scott: ‘Money has not trickled down to us.’
Photograph: Sam Levin for the Guardian

Yvonne Scott feels like she’s trapped in a cell. The 65-year-old and her husband, Hector Chavez, 60, have been living in their car for nearly a year since they were evicted, parking each night in church and grocery store lots in the shadows of Silicon Valley.

“It’s like being incarcerated, being enclosed. You can’t move freely. No bathroom,” Scott said. “It’s dangerous. We don’t belong in a vehicle.” Continue reading “Inequality on Apple’s doorstep: how the GOP tax bill could worsen the divide”

Myths of the 1 Percent: What Puts People at the Top

The following article by Jonathan Rothwell was posted on the New York Times website November 17, 2017:

Income inequality inspires fierce debate around the world, and no shortage of proposed solutions. As global billionaires bid up the price of a da Vinci painting on Wednesday, to $450.3 million, Congress debated tax reforms that many analysts said would give the largest benefits to the richest 1 percent of taxpayers.

In the United States, the richest 1 percent have seen their share of national income roughly double since 1980, to 20 percent in 2014 from 11 percent. This trend, combined with slow productivity growth, has resulted in stagnant living standards for most Americans.

 

No other nation in the 35-member Organization for Economic Cooperation and Development is as unequal, and none have experienced such a sharp rise in inequality. Continue reading “Myths of the 1 Percent: What Puts People at the Top”

Trump administration’s zeal to peel back regulations is leading us to another era of robber barons

The following article by Jermi Suri was posted on the Conversation website October 11, 2017:

Credit: Library of Congress

The Trump administration has a clear economic objective: deregulate. Loosening regulations on industries, the White House believes, will lead to faster growth and more jobs. This is the stated reason for pulling the U.S. from the international climate accord, and the economic justification for seeking to rescind the EPA Clean Power Plan that limits carbon emissions from plants.

But an examination of history shows that government regulations are not always harmful to industry; they often help business. Indeed, government regulation is as central to the growth of the American economy as markets and dollars. Continue reading “Trump administration’s zeal to peel back regulations is leading us to another era of robber barons”

Rich American seniors are getting healthier, leaving the poor behind

NOTE:  This is already happening BEFORE GOP implementation of healthcare legislation that will affect who can get insurance (and, therefore, treatment) at a rate they can afford.

The following article by Matthew A. Davis and Kenneth Langa was posted on the Conversation website September 18, 2017:

The U.S. has seen substantial improvements in life expectancy over the past century, particularly for those who are better-educated and more affluent.

Our study, out September 18, looks at the health of older Americans in recent years, using data collected by the U.S. Department of Health and Human Services on more than 50,000 seniors age 65 and older. Seniors in 2014 were 14 percent more likely to report that they were in very good or excellent health, compared to seniors in 2000. Continue reading “Rich American seniors are getting healthier, leaving the poor behind”

To Understand Rising Inequality, Consider the Janitors at Two Top Companies, Then and Now

The following article by Neil Irwin was posted on the New York Times website September 3, 2017:

Marta Ramos, left, is a janitor at Apple headquarters. That’s the same job Gail Evans, right, held at Kodak in the 1980s. Credit From left: Jason Henry for The New York Times; Tony Luong for The New York Times

ROCHESTER — Gail Evans and Marta Ramos have one thing in common: They have each cleaned offices for one of the most innovative, profitable and all-around successful companies in the United States.

For Ms. Evans, that meant being a janitor in Building 326 at Eastman Kodak’s campus in Rochester in the early 1980s. For Ms. Ramos, that means cleaning at Apple’s headquarters in Cupertino, Calif., in the present day.

In the 35 years between their jobs as janitors, corporations across America have flocked to a new management theory: Focus on core competence and outsource the rest. The approach has made companies more nimble and more productive, and delivered huge profits for shareholders. It has also fueled inequality and helps explain why many working-class Americans are struggling even in an ostensibly healthy economy. Continue reading “To Understand Rising Inequality, Consider the Janitors at Two Top Companies, Then and Now”

5 Things Ivanka Trump Could Do Right Now on Equal Pay

The following article by Jocelyn Frye and Kaitlin Holmes was posted on the Center for American Progress website August 24, 2017:

Rep. Barbara Lee (D-CA) shakes hands before the start of an event to commemorate Women’s Equality Day on August 22, 2017, in San Francisco. Credit:  AP/Eric Risberg

The Trump administration’s first eight months have largely been devoid of any concrete steps toward achieving equal pay. No meaningful administrative actions have been taken to improve pay practices, strengthen equal pay protections, or fight wage discrimination. Instead, the administration has taken action that will make matters worse for women and families: Shortly before this year’s Equal Pay Day, President Donald Trump quietly rescinded the 2014 Fair Pay and Safe Workplaces executive order—a key Obama administration rule requiring greater pay transparency to help workers ensure accuracy in their pay. The end result has been a critical vacuum of leadership and proactive administration efforts to advance equal pay at a time when combating pay discrimination remains a persistent challenge for both men and women.

While Ivanka Trump has made passing references to her support for equal pay and has touted her father’s commitment to the issue, this support in practice has amounted to little more than lip service. There are important actions that Ivanka Trump, the administration’s unofficial point person on women’s issues, could pursue right now to make a difference on equal pay. Here are just five possibilities. Continue reading “5 Things Ivanka Trump Could Do Right Now on Equal Pay”

How some rich people are trying to dismantle inequality

The following article by Erynn Beaton, Maureen S. Scully and Sandra Rothenberg was posted on the Conversation website July 20, 2017:

Wealthy allies advocate for policies at odds with the goals touted by the satirical group Billionaires for Wealthcare. codepinkphoenix/Flickr, CC BY-SA

Ample research indicates that the growing problem of wealth and income inequality could stunt U.S. economic growth and undermine our democracy while stirring political polarization. Given that the federal government shows little interest in fighting economic inequality and many states are ill-equipped to do much about it, what else can be done?

Studies have also found that the rich exert far more influence over government than the rest of us. This imbalance means that wealthy people who do something about inequality may have more power to make an impact than everybody else. As scholars of social change, we wanted to learn more about how a small number of affluent Americanschoose to spend their own time, clout and money fighting inequality.

A growing gap

The latest official estimates indicate that the richest 10 percent held 76 percent of the nation’s wealth as of 2013. That means for every US$10, these Americans own $7.60, leaving $2.40 for the remaining 90 percent. And the concentration of wealth is only getting worse. The richest 10 percent held only 67 percent of the nation’s wealth in 1989. Continue reading “How some rich people are trying to dismantle inequality”

The Rich Pay Fewer Taxes Than The Poor, And Get More Services

The following article from Paul Buchheit was posted on the Alternet website March 20, 2017:

When all forms of taxes and income are considered, poor Americans pay higher tax rates than the richest 1%.

The analysis starts with state and local taxes, which are often ignored by apologists for big-income tax cuts. According to the Institute on Taxation and Economic Policy, the state and local tax rate for the poorest 20 percent of individuals is double that of the top 1 percent (10.9 percent vs. 5.4 percent). New data from Thomas Piketty, Emmanuel Saez and Gabriel Zucman allows us to go further: When unrealized capital gains are included in the wealth-building of the richest 1%, the overall tax rates plunge for the super-rich, causing the poorest Americans to pay the highest rates.  Continue reading “The Rich Pay Fewer Taxes Than The Poor, And Get More Services”