Tag Archives: wealth divide

Poll: United We Stand on Wealth Gap

Poll: United We Stand on Wealth Gap
As the president delivers the televised address Tuesday, he'll be speaking to a country filled with people who are cautiously optimistic that the economy is improving but not at all sure its benefits are going to reach them. Indeed, at a time when Republicans and Democrats disagree about almost everything, on this there is virtually no partisan gap: 61% of Republicans, 68% of Democrats and 67% of independents think economic inequality has ... Read more

Obama’s First State of the Union a Source of Regret

Obama’s First State of the Union a Source of Regret
On Jan. 27, 2010, Obama appeared before Congress for his first State of the Union and declared that the time for moderate austerity had arrived. It would prove to be a seminal moment for his presidency -- setting the stage for years of debate over the deficit and debt reduction -- and it would be one that close advisers would come to regret. Read more

Americans Don’t Realize Just How Badly We’re Getting Screwed by the Top 0.1 Percent Hoarding the Country’s Wealth

By David DeGraw Amped Status, August 14, 2011, Printed on August 16, 2011 With an unprecedented sum of wealth, tens of trillions of dollars, held within the top one-tenth of one percent of the US population, we now have the most severe inequality of wealth in US history. Not even the robber barons of the Gilded Age were as greedy as the modern-day economic elite. As American philosopher John Dewey said, “There is no such thing as the liberty ... Read more

America’s 14 Most Ready to Riot Cities

Could a Tottenham happen In the United States? And, if so where? By Chaz Valenza OpedNews, August 11, 2011 London Riots by Late Breaking News Here’s a list of 14 large American cities that may be ready to erupt.   They have been identified by sorting common social, economic and demographic data including: unemployment, education, income, crime, housing and homelessness. Other data was also included that might indicate probable ... Read more

The City of Riots, London, Is Also the City of the Greatest Wealth Divide in the Developed World

London’s richest people worth 273 times more than the poorest Academic argues in new book that society has the widest divide since the days of slavery By Randeeo Ramesh The Guardian, April 21, 2010 London is the most unequal city in the developed world. Photograph: Sarah Lee London is most unequal city in the developed world, with the richest tenth of the population amassing 273 times the wealth owned by the bottom tenth – which ... Read more

CEOs to Workers: More for Me, Less for You

“Reductions in wages and benefits explain the majority of the net improvement in [profit] margins . . . US labor compensation is now at a 50-year low relative to both company sales and US GDP,” JP Morgan investor newsletter. By Holly Sklar Common Dreams, July 25, 2011 Big company CEOs got a 23 percent raise last year and corporate profits are at record highs. But the minimum wage has less buying power now than in 1956 – the year Elvis ... Read more

The Tax Burden of the Very Rich

When there is an income tax, the just man will pay more and the unjust less on the same amount of income. — Plato, The Republic By Christopher Brauchli Common Dreams, July 23, 2011 The purpose of this piece is to identify for readers how an unjust tax system treats the very wealthy. Once that is understood it is easy to understand Senator Orin Hatch’s recent comments. In a little noted speech the Senator said that the poor need to “share ... Read more

World’s wealthiest people now richer than before the credit crunch

World Wealth Report reveals soaring numbers of rich individuals in Asia Pacific region – but slower growth in Britain By Jill Treanor The Guardian, June 22, 2011 We are not all in this together. The UK economy is flat, the US is weak and the Greek debt crisis, according to some commentators, is threatening another Lehman Brothers-style meltdown. But a new report shows the world’s wealthiest people are getting more prosperous – and more ... Read more