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Miel | It's The Economy, Stupid! / Slate.com

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Think Again: Inequality and America’s Antiquated Politics

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  • Economic inequality in America is growing to proportions we have never seen before, threatening not only our social structure but also our democracy as the U.S. Supreme Court equates the right to spend money on politics with freedom of speech
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  • Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth'
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  • Special Report | Poverty in the U.S.
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Eric Alterman, Center for American Progress

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It’s ironic—though perhaps that’s too kind a term—to note that at the moment the U.S. poverty rate is reaching a 15-year high the nation is engaged in whether to offer additional tax cuts for those making more than $250,000 per year. (For a single adult in 2009, the poverty line was $10,830 in pretax cash income. For a family of four it was $22,050.)

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This despite the fact that the nonpartisan Congressional Budget Office analyzed the short-term effects of 11 potential options for dealing with the present unemployment crisis and found that retaining the Bush tax cuts for the wealthy offered the least powerful “bang for the buck,” owing to wealthy people’s proclivity to save rather than spend additional income. And yes, it just so happens that the Forbes 400 came out during the same week, and lo and behold, “The super-rich got even wealthier this year.” (CAP's Matt Yglesias offers a few ideas about this phenomenon as well.)

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Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth', William AldenHuffington Post

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  • Americans vastly underestimate the degree of wealth inequality in America, and we believe that the distribution should be far more equitable than it actually is, according to a new study.
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  • Class Warfare from the Top Down
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  • Third world America
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Special Report | Poverty in the U.S., David Culver, ed., Evergreene Digest

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  • Poverty Rate In U.S. Saw Record Increase In 2009: 1 In 7 Americans Are Poor,
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  • US Poverty Data Tells Only Half the Story...
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Summary: America's Financial Crisis: Week of September 26

7 New Items including:

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  • Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth',
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  • How Right-Wing Billionaires and Business Propaganda Got Us into the Economic Mess of the Century
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David Culver, ed., Evergreene Digest

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Joel Pett

How Right-Wing Billionaires and Business Propaganda Got Us into the Economic Mess of the Century, Joshua Holland, AlterNet
Holland's new book shows how the corporate Right obscured how they've rigged the "free market" so they always come out on top.

Special Report | Poverty in the U.S., David Culver, Evergreene Digest

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  • Poverty Rate In U.S. Saw Record Increase In 2009: 1 In 7 Americans Are Poor
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  • US Poverty Data Tells Only Half the Story...
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US Poverty Data Tells Only Half the Story..., Ananya Mukherjee-Reed, Common Dreams
Private ‘fortunes’ of the few continue to grow alongside the misfortunes of many.  These fortunes come directly from production and investment strategies which involve layoffs, paying pittance to workers, tax dodging, abuse of tax payers’ money and so on.

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Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth', William AldenHuffington Post

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  • Americans vastly underestimate the degree of wealth inequality in America, and we believe that the distribution should be far more equitable than it actually is, according to a new study.
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  • Class Warfare from the Top Down
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  • Third world America
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The Angry Rich, Paul Krugman, New York Times | NY

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  • Self-pity among the privileged has become acceptable, even fashionable.
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  • Third world America
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Third world America, Luiza Ch. Savage, MacLeans

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  • Collapsing bridges, street lights turned off, cuts to basic services: the decline of a superpower
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  • Poverty Rate In U.S. Saw Record Increase In 2009: 1 In 7 Americans Are Poor
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  • The United States of Fear
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  • Empire of Illusion
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Reducing Student Poverty in the Classroom, Saba Bireda , Joy Moses, Center for American Progress
School-Based Antipoverty Strategies the Federal Government Can Learn From and Act On

Section(s): 

Americans Vastly Underestimate Wealth Inequality, Support 'More Equal Distribution Of Wealth'

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  • Americans vastly underestimate the degree of wealth inequality in America, and we believe that the distribution should be far more equitable than it actually is, according to a new study.
  • \r\n

  • Class Warfare from the Top Down
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  • Third world America
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William AldenHuffington Post

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Americans vastly underestimate the degree of wealth inequality in America, and we believe that the distribution should be far more equitable than it actually is, according to a new study.
Or, as the study's authors put it: "All demographic groups -- even those not usually associated with wealth redistribution such as Republicans and the wealthy -- desired a more equal distribution of wealth than the status quo."

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The report  "Building a Better America -- One Wealth Quintile At A Time" by Dan Ariely of Duke University and Michael I. Norton of Harvard Business School (hat tip to Paul Kedrosky), shows that across ideological, economic and gender groups, Americans thought the richest 20 percent of our society controlled about 59 percent of the wealth, while the real number is closer to 84 percent.

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Class Warfare from the Top Down, Katrina vanden Heuvel, The Nation on Grit TV

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  • While the economy stagnates and our infrastructure crumbles, Bush's breaks for the wealthiest Americans are doing far more harm than good.
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  • "The spine of this White House," says vanden Heuvel, "is wobbly."
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  • Why Obama Is Proposing Whopping Corporate Tax Cuts, and Why He’s Wrong
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Third world America, Luiza Ch. Savage, MacLeans

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  • Collapsing bridges, street lights turned off, cuts to basic services: the decline of a superpower
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  • Poverty Rate In U.S. Saw Record Increase In 2009: 1 In 7 Americans Are Poor
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  • The United States of Fear
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  • Empire of Illusion
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Section(s): 

The Angry Rich

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  • Self-pity among the privileged has become acceptable, even fashionable.
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  • Third world America
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Paul Krugman, New York Times | NY

Submitted by Evergreene Digest Contributing Editor Thomas Sklarski

Signe Wilkinson

Anger is sweeping America. True, this white-hot rage is a minority phenomenon, not something that characterizes most of our fellow citizens. But the angry minority is angry indeed, consisting of people who feel that things to which they are entitled are being taken away. And they’re out for revenge.

No, I’m not talking about the Tea Partiers. I’m talking about the rich.

These are terrible times for many people in this country. Poverty, especially acute poverty, has soared in the economic slump; millions of people have lost their homes. Young people can’t find jobs; laid-off 50-somethings fear that they’ll never work again.

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Related:

Third world America, Luiza Ch. Savage, MacLeans

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  • Collapsing bridges, street lights turned off, cuts to basic services: the decline of a superpower
  • \r\n

  • Poverty Rate In U.S. Saw Record Increase In 2009: 1 In 7 Americans Are Poor
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  • The United States of Fear
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  • Empire of Illusion
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