Taken For Granted At Davos That US Government Run On ‘Legalized Corruption’

By: Wednesday January 21, 2015 10:38 am

While there may be confusion among some in the US as to how the American political system operates, it is apparently taken for granted by participants at the World Economic Forum in Davos, Switzerland that politics in America is based on bribery and corruption. In an interview at Davos with Bloomberg News related to growing [...]

Richest 1% Set To Own Over Half Of World’s Wealth

By: Tuesday January 20, 2015 7:18 am

Top 0.1% of Americans hold as much of the country's wealth as bottom 90% #inequality #Davos http://t.co/U3jLG01Bue pic.twitter.com/jHVaCE9tSD — The Economist (@TheEconomist) January 19, 2015 Oxfam has put out a fortuitously timed report on global wealth inequality just as the World Economic Forum at Davos, Switzerland gets underway. Then again, maybe Oxfam knew exactly what [...]

Obama Set To Propose Taxes On Capital Gains, Inheritance, And Wall Street

By: Monday January 19, 2015 8:55 am

It only took 5 years, but President Obama is finally set to offer some concrete proposals to deal with wealth inequality in America. Unfortunately, the proposals come as the Republicans have taken control of both chambers of Congress and Obama enters the twilight of his presidency. President Obama is reported to be planning to announce [...]

The Real Winners Of The Recovery: The Superrich

By: Monday January 5, 2015 6:54 am

Much has been made of the yawning gap between the 1% and the 99% and that America is by and large a plutocracy. But inequality is also expanding within the commanding heights of the US economy as new research shows that the top .1% has broken away from their uber-wealthy peers and amassed more than [...]

Most Americans Unaware How Rich 1% Are

By: Monday September 29, 2014 10:21 am

Distribution of average income growth during expansions – Top 10% or Bust (ht @ryanlcooper) pic.twitter.com/zuXKRrb13s — ian bremmer (@ianbremmer) September 25, 2014 As evidence showing more and more of America’s wealth is being snatched by the rich compounds, a survey shows Americans are still unable to grasp how truly rich those at the top are. [...]

Poverty Unchanged By Wall Street Recovery

By: Wednesday September 17, 2014 9:19 am

Though the federal government and Federal Reserve moved heaven and earth to ensure the 1% were made whole after the financial crisis, those unable to buy influence in Washington remain frayed. According to the Census Bureau over 14% of Americans remain below the poverty line while financial markets have made a considerable recovery from 2008 [...]

Jobs Lost Due To Financial Crisis Replaced With Ones That Pay 23% Less

By: Tuesday August 12, 2014 8:11 am

The top 1% are richer than we thought. http://t.co/AE4PGTyKR3 pic.twitter.com/ov34ipuZaG — Bloomberg VisualData (@BBGVisualData) August 11, 2014 It’s the fake recovery, stupid. Despite lavish talk of an economic “recovery”, consumer confidence has remained low. Unlike the 1% who are seeing their wealth climb higher on the back of juiced financial markets and tax cheating the [...]

Study: When States Lower Business Costs They Contribute To Wealth Inequality

By: Thursday July 17, 2014 6:59 am

When state governments try to create a better business climate they run the risk of encouraging a more stratified society, according to a new study by David Neumark and Jennifer Muz of the University of California. The study compares two different policy approaches to improve the business climate of a state – those that attempt [...]

Obama Backs Away From Inequality Debate To Comfort Corporate Democrats

By: Monday July 7, 2014 7:44 am

Months ago it was “the defining issue of our time”  today it’s a hazy memory of a dreamy talking point. According to the Washington Post, President Barack Obama has “largely abandoned” talking about wealth inequality in America to appease corporate Democrats worried about losing support from the wealthy contributor class. So instead of taking on [...]

1%er Warns Fellow Plutocrats Neoliberalism Will Lead To Violent Class Revolution

By: Friday June 27, 2014 10:58 am

Though Charles and David Koch may be grabbing the headlines promoting a 1% neo-feudal agenda, not everyone in the upper echelons of the American plutocracy is on board. Nick Hanauer, a super rich venture capitalist, recently wrote a piece condemning neoliberalism – often called “trickle-down economics” – saying the current economic system is not only [...]

Richard Florida Discovers Vaunted ‘Creative Class’ Making Things Worse

By: Tuesday May 13, 2014 11:05 am

In academia you need a new theory to distinguish yourself. Notice the word new not necessarily good. Richard Florida came up with a new theory. It went something like this – that a “creative class” of high tech yuppies – driven by technology, talent, and tolerance -  would drive economic development through the country, making [...]

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