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Twelve charts that show how policy could reduce inequality—but is making it worse instead

By Economic Policy Institute With the unemployment rate at 4 percent or below for eight consecutive months, 2018 appears to be the year when the economy finally became healthy again. But while low unemployment is good news, it doesn’t tell the whole story of how typical families are faring in the current economy. As the economy normalizes following a long, slow recovery from the Great Recession, we are quickly resuming…

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Capitalist-style wealth gap: 1 tech guy = 1,000,000 teachers

By Paul Buchheit ~ Nation of Change ~ Capitalism is a perfect system for people like this, who care only about making more money than everyone else, and fail to grasp the importance of a healthy, working society. As of 01/20/19, the richest six American tech leaders (Bezos, Gates, Zuckerberg, Ellison, Page, Brin) averaged over $80 billion in net worth. Meanwhile, the 25 million Americans just above the median, many of them teachers,…

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A Dream Deferred: MLK’S Dream of Economic Justice is Far From Reality

By Jessica Pierre ~ Other Words ~ 90 years after King was born, the racial wealth divide is actually growing — which drags down the entire economy. January 15th marked what would’ve been Dr. Martin Luther King’s 90th birthday. Most known for his famous “I Have Dream Speech,” King envisioned a future in which deep racial inequalities — including deep economic inequality — were eradicated. He worked tirelessly towards that mission.…

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Humanity is more important than money — it’s time for capitalism to get an upgrade

By Andrew Yang ~ TED ~ What capitalism prioritizes, the world does more of. So how can we change capitalism so that it focuses on what humans really want and need? Entrepreneur Andrew Yang has a surprising proposal. Think of the activities on the list below: Parenting or caring for loved ones Teaching or nurturing children Creating art, music, dance Working in struggling regions near our hometowns Preserving the environment…

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Do We Really Need Billionaires?

By Lawrence Wittner ~ Common Dreams ~ According to numerous reports, the world’s billionaires keep increasing in number and, especially, in wealth In March 2018, Forbes reported that it had identified 2,208 billionaires from 72 countries and territories.  Collectively, this group was worth $9.1 trillion, an increase in wealth of 18 percent since the preceding year.  Americans led the way with a record 585 billionaires, followed by mainland China which, despite its professed commitment…

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America Has the Highly Combustible Economy It Deserves

By Marshall Auerback ~ Independent Media Institute ~ Truthdig It’s part of the American experience to find yourself in an elevator, in an airplane terminal, or at home, looking at a screen with stock numbers whizzing by, and people yammering about how America is somewhere on the spectrum between wonderful or about to disintegrate because of a 5 percent swing in Boeing or Microsoft stock. How did we get to…

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The Evidence Pours In: Poverty Getting Much Worse in America

By Paul Buchheit ~ Common Dreams ~ Poverty—and the stress of being poor—is killing people every single day A White House report recently proclaimed that the “War on Poverty is largely over and a success.” United Nations Ambassador Nikki Haley said it was “ridiculous for the United Nations to examine poverty in America.” Well-positioned Americans must talk like this, of course, because admitting the debilitating state of poverty in America…

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Business Is One Reason For Economic Inequality – And Also For Equality

By Bill Conerly ~ Forbes ~ Is business a reason for economic inequality, or does business reduce economic inequality? I believe the answer is “Yes.” Private business both increases and decreases inequality, in conjunction with changes in the structure of the economy, technology, social attitudes and public policy. Private business does not definitively determine the distribution of income, but it influences it. (This article is based on my presentation in…

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The American middle class is stable in size, but losing ground financially to upper-income families

By Rakesh Kochhar ~ Pew Research Center ~ About half (52%) of American adults lived in middle-class households in 2016. This is virtually unchanged from the 51% who were middle class in 2011. But while the size of the nation’s middle class remained relatively stable, financial gains for middle-income Americans during this period were modest compared with those of higher-income households, causing the income disparity between the groups to grow.…

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Winter Is Coming, and Fuel Costs Will Hit the Poor the Hardest

By S.E Smith – Talk Poverty ~ Winter is coming, and it’s going to be colder for some than others. “Starting junior year,” recalls Alexis Stewart, a West Virginia-based writer and musician, “my mom said we couldn’t afford heat and I had to ‘suck it up.’ I don’t know if we didn’t qualify for [the Low Income Home Energy Assistance Program] those years or if the funding ran out before…

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