Rich richer, poor poorer in the USA


This video from the USA says about itself:

“Campaign to Reduce Poverty in America,” Catholic Charities U.S.A.: A very straightforward, six minute overview of the causes, consequences, and faces of poverty from one of the largest social service organizations in the U.S. The goal of the Campaign is to cut domestic poverty in half by 2020; suggestions for activism are included.

Jesse Jackson: We in the US possess the greatest resources and wealth ever known to humankind. So to have over 44 million people — 14% of our population — and 20% of our children living in poverty strains the soul of America: here.

Les Leopold: You’d think the Wall Street moguls would be thankful. Not just thankful — down on their knees kissing the ground taxpayers walk on and hollering hallelujah at the top of their lungs! These guys profited from puffing up the housing bubble, then got bailed out when the going got tough. Without taxpayer largess, these hedge fund honchos would be flat broke. Instead, they’re back to hauling in obscene profits. Yet standing before us are these troubled souls, haunted by visions of persecution. Why? Here.

The number of US households living on less than $2 a day per person rose from 636,000 in 1996 to 1.65 million in mid-2011: here.

The eruption of US militarism is bound up with the enormous growth of social inequality: here.

THE gap between the richest Americans and the rest of the nation has widened after the recession, highlighting the worsening income inequality in the United States, a new survey has found, as over 450 were arrested during sit-in protests by fast food workers in 150 US cities : here.

For the first time in more than four decades, “middle-income households” no longer constitute the majority of American society, according to a study published Wednesday by the Pew Research Center. Instead, the majority of households are either low or higher-income: here.

Manhattan’s Old Homestead Steak House, an upscale New York City restaurant located on the lower West Side, is offering a Thanksgiving dinner to its well-heeled clientele at a price of $35,000 for four, or $8,750 per person: here.

STATE OF THE UNION TONIGHT: OBAMA TO TACKLE INCOME INEQUALITY “With the American job market surging to life, President Obama plans to use his State of the Union address on Tuesday night to effectively declare victory over the economic hard times that dominated his first six years in office and advocate using the nation’s healthier finances to tackle long-deferred issues like education and income inequality.” Democrats hope Obama “goes big” on issues such as overtime pay. And here’s what the State of the Union means for 2016, as well as who is sitting with Michelle Obama tonight. [NYT]

THE PRIVATE TAX SYSTEM FOR THE UPPER CRUST “The very richest Americans have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. Some call it the ‘income defense industry,’ consisting of a high-priced phalanx of lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers, virtually none of them available to taxpayers of more modest means.” [NYT]

28 thoughts on “Rich richer, poor poorer in the USA

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  13. The Supreme Court’s partisan Republican 5-4 ruling in Citizens United granted corporations and billionaires a “right” to buy elections – and destroy our precious Democracy. We see the direct consequences every day on our TV’s with lie-filled SuperPac attack ads.

    In 24 hours, People for the American Way and its allies will deliver millions of signatures for the “Democracy for All” constitutional amendment (SJ Res 19) to overturn Citizens United. Could you take a moment to add your name right now?

    Thanks for all you do!

    Bob Fertik

    The clock is ticking…

    clock

    Join our 24-HOUR CAMPAIGN: Add your name to help #GetMoneyOut!

    sign the petition

    Dear Activist —

    We’re teaming up with our allies in the movement to get big money out of elections for a massive petition delivery this Wednesday (TOMORROW)!

    That means you have less than 24 hours to make sure YOUR name is included among the millions of Americans demanding a constitutional amendment to overturn decisions like Citizens United!

    The clock is ticking: Add your name here right away>>

    The Democracy for All constitutional amendment will be voted on by the full U.S. Senate on September 8 — the same day Congress returns from its summer recess.

    While senators are still home for recess, we’re joining forces with activists and organizations across the country to have our petition signatures delivered to 20 key Senate state offices!

    When PFAW teamed up with allies to deliver these petition signatures at a Senate Judiciary Committee hearing, we had more than two million. This time, we hope to surpass even that — but we can’t do it without you.

    Stand up … be counted … and help get the corrupting influence of big money OUT of our elections.

    ONLY 24 HOURS TO GO!

    Demand a constitutional amendment to undo the harm of the Citizens United and McCutcheon Supreme Court decisions>>

    Thank you for fight to save our democracy and restore Government By the PEOPLE!

    — Rio Tazewell, Government By the People Campaign Coordinator

    Like

  14. Dear fellow progressive:

    The financial crisis of 2007-2008 made one thing crystal clear: Markets will not regulate themselves. After the crisis Congress took steps to rein in some destructive financial trends but unfortunately left others unchecked. The out-of-control growth in executive pay is one such unchecked area.

    That’s why I’m introducing the Income Equity Act of 2015. Signal your support for this critical legislation by signing our petition.

    And taxpayers actually subsidize these lavish packages through a loophole in the tax code that allows businesses to deduct many expenses – including executive wages – and only pay taxes on profit. The law limits deducting executive wages past $1 million, which is why companies have gotten so creative in compensating their executives with stock options, private jets and other non-wage benefits.

    Right now the law does nothing to stop this massive growth in executive compensation. The Income Equity Act is the fix we need.

    This Act will limit the deductibility of executive compensation to $500,000 or 25 times a company’s median salary, whichever is greater. This change will rein in the growth of executive payouts while encouraging companies to raise the pay of workers at the bottom of the pay scale.

    Lend your support to the Income Equity Act. Sign our petition.

    Thank you,

    Barbara Lee
    Member of Congress

    Like

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