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Nine Economic Facts That Will Make Your Head Spin

Nine Economic Facts That Will Make Your Head Spin | Coffee Party News | Scoop.it

by Lynn ParramoreAlterNet


Half the population of the US has slipped into poverty or is barely making enough to get by.

How much will you need for medical expenses in retirement? What does it cost to keep 2.5 million Americans behind bars? Here are a few facts and figures that might surprise you.

1. Recovery for the rich, recession for the rest.
Economic recovery is in rather limited supply, it seems. Research by economist Emmanuel Saez shows that the top 1 percent has enjoyed income growth of over 11 percent since the official end of the recession. The other 99 percent hasn’t fared so well, seeing a 0.4 percent decline in income.

The top 10 percent of earners hauled in 46.5 percent of all income in 2011, the highest proportion since 1917 – and that doesn’t even include money earned from investments. The wealthy have benefitted from favorable tax status and the rise in stock prices, while the rest have been hit with a continuing unemployment crisis that has kept wages down. Saez believes this trend will continue in 2013.
 

2. Half of us are poor or barely scraping by.

The latest Census Bureau data shows that one in two Americans currently falls into either the “low income” category or is living in poverty. Low-income is defined as those earning between 100 and 199 percent of the poverty level. Adjusted for inflation, the earnings for the bottom 20 percent of families have dropped from $16,788 in 1979 to just under $15,000. Earnings for the next 20 percent have been stuck at $37,000.

States in the South and West had the highest proportion of low-income families, including Arizona, New Mexico and South Carolina, where politicians are eagerly shredding the social safety net. [MORE]


Coffee Party USA's insight:

Here is an outline with a discussion of what the austerity and inequity in our economy are doing to us. A very simple and to the point list that all conscienious citizens should give serious thought to.

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Eric Holder: Return to Sender

Eric Holder: Return to Sender | Coffee Party News | Scoop.it
Glen Ford, Executive Editor of the Black Agenda Report, says Eric Holder is returning to his "ideological home" of corporate law to defend the big banks and TPP
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My 'Democratic' Opponent is an Errand Boy for Wall Street

My 'Democratic' Opponent is an Errand Boy for Wall Street | Coffee Party News | Scoop.it
The Circle Game
This week marks the five-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It’s a bill that I worked on and I supported because it’s a step in the...
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Seeking Justice: Felony Murder? The Drug War Takes Center Stage and a Young Man’s Life Hangs in the Balance

Seeking Justice: Felony Murder? The Drug War Takes Center Stage and a Young Man’s Life Hangs in the Balance | Coffee Party News | Scoop.it
The victim of a conspiracy con act, shot in the commission of a crime, is charged with murder and ex post facto application of the law.Read more →
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Memorials spring up after Chattanooga shootings – in pictures

Memorials spring up after Chattanooga shootings – in pictures | Coffee Party News | Scoop.it
From flags to children’s toys, mourners have left tokens in memory of four marines and a navy sailor who were killed in a shooting at a US military recruiting center last week Continue reading...
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“Somebody’s Going to Own This Government. It Ought to Be Us, not Wall Street”

“Somebody’s Going to Own This Government. It Ought to Be Us, not Wall Street” | Coffee Party News | Scoop.it
Below, in part two of my recent interview with Rep.
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George Washington’s Farewell Address: A ‘Warning Against the Impostures of Pretended Patriotism’

George Washington’s Farewell Address: A ‘Warning Against the Impostures of Pretended Patriotism’ | Coffee Party News | Scoop.it
On Independence Day, against official claims that mass domestic surveillance is needed to ensure U.S. security, Truthdig reprints the farewell address of the first president of the United States.
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Wealthy corporatists have been playing poor whites for fools since the founding. They still are.

Wealthy corporatists have been playing poor whites for fools since the founding. They still are. | Coffee Party News | Scoop.it
Tim Wise says the "white" race was created by the wealthy elite to trick poor, landless Europeans into siding with them. The corporatists, then as now, were selling the lies of racism, the American...
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Mormon Church Gives First Ever Donation To LGBT Youth Group

Mormon Church Gives First Ever Donation To LGBT Youth Group | Coffee Party News | Scoop.it
This contribution marks a significant moment in the relationship between the church and the gay, bisexual and transsexual community. - Kent Frogley, President Utah Pride Center Board of Directors 
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Obama to deploy more U.S. troops to Iraq in fight against Islamic State | The Heralding

Obama to deploy more U.S. troops to Iraq in fight against Islamic State | The Heralding | Coffee Party News | Scoop.it
President Barack Obama on Wednesday ordered further 450 U.S. troops to be deployed to Iraq in order to advice and assist the Iraqi forces in their reclamat
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Under Cover of Darkness, Female Janitors Face Rape and Assault

Under Cover of Darkness, Female Janitors Face Rape and Assault | Coffee Party News | Scoop.it
Across the country, janitors at companies large and small say their employers have turned a blind eye to complaints of sexual assault, and attacked their credibility when they report abuse at the hands of supervisors or co-workers.
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House rejects Authorization of Use of Military Force bill against Islamic State | The Heralding

House rejects Authorization of Use of Military Force bill against Islamic State | The Heralding | Coffee Party News | Scoop.it
The House of Representatives led by the Republicans has rejected an amendment to the Defense bill on Thursday, a day after President Barack Obama ordered 450
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Rhode Island Uses Nullification in Hemp Debate

Rhode Island Uses Nullification in Hemp Debate | Coffee Party News | Scoop.it
Will the debate on whether the sovereign states may produce industrial hemp within their borders strengthen federalism, as states nullify unconstitutional federal laws?
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Breaking: Embattled Archbishop Of St. Paul Resigns After Archdiocese Charged With Sex Abuse Coverup

Breaking: Embattled Archbishop Of St. Paul Resigns After Archdiocese Charged With Sex Abuse Coverup | Coffee Party News | Scoop.it
Archbishop John Nienstedt, who waged war against the gay community, has resigned after his archdiocese was charged with the coverup of child sex abuse by a priest.
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Banks revolt over plan to kill $17B Fed payout

Banks revolt over plan to kill $17B Fed payout | Coffee Party News | Scoop.it
Banks call a plan to cut their dividend a new tax on banks.
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William Boyer's curator insight, July 26, 9:43 AM
And it's about time they paid their fair share...
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Here's who is bankrolling the top presidential candidates

Here's who is bankrolling the top presidential candidates | Coffee Party News | Scoop.it
Some of them are raising money in surprising places.
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Six Governors Order National Guard Members to Carry Firearms

Six Governors Order National Guard Members to Carry Firearms | Coffee Party News | Scoop.it
Since the shooting of military personnel at a recruiting center in Chattanooga last week, governors in half-a-dozen states have ordered members of their National Guard to arm themselves.
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#Fracking is literally killing babies in Utah, and local, state, and federal officials are helping to make that possible

#Fracking is literally killing babies in Utah, and local, state, and federal officials are helping to make that possible | Coffee Party News | Scoop.it
What Paul Solotaroff's expose in Rolling Stone, "What's Killing the Babies of Vernal, Utah?" reveals is disturbing on so many levels. It's what happens when Big Money instead of We The People contr...
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Mother of Eric Garner Praises New York's Appointment of Special Prosecutor to Probe Police Killings

Mother of Eric Garner Praises New York's Appointment of Special Prosecutor to Probe Police Killings | Coffee Party News | Scoop.it
New York Governor Andrew Cuomo has announced plans to appoint a special prosecutor to investigate police killings of unarmed civilians, making New York the first state to do so.
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The Trick of Whiteness, Historically and Today - @timjacobwise

The Trick of Whiteness, Historically and Today - @timjacobwise | Coffee Party News | Scoop.it

There was no "white" race until it was created as a trick by the elite to get poor, landless Europeans to side with them against indigenous peoples and people of color in support of chattel slavery.

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The Intercept’s Summer Reading List

The Intercept’s Summer Reading List | Coffee Party News | Scoop.it
Every Man Dies Alone
By Hans Fallada
The most fascinating book I’ve read about surveillance and its crushing effect on political dissent is Hans Fallada’s Every Man Dies Alone.
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U.S. House rejects measure to withdraw U.S. troops from Iraq and Syria | The Heralding

U.S. House rejects measure to withdraw U.S. troops from Iraq and Syria | The Heralding | Coffee Party News | Scoop.it
The House of Representatives has rejected the resolution on Wednesday with which President Barack Obama would be forced to pull out all American troops from
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New Details About Drone Attacks Reported From Documents Leaked by Snowden

New Details About Drone Attacks Reported From Documents Leaked by Snowden | Coffee Party News | Scoop.it
  An MQ-9 Reaper unmanned aerial vehicle prepares to land after a mission in Afghanistan in this photo from 2007. (Staff Sgt. Brian Ferguson / U.S.
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Map: The Largest Donors to State Elections

Map: The Largest Donors to State Elections | Coffee Party News | Scoop.it
The post Map: The Largest Donors to State Elections appeared first on The Bulletin.
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In Pennsylvania, Ballot Access Is Not Equal

In Pennsylvania, Ballot Access Is Not Equal | Coffee Party News | Scoop.it
It took just 500 write-in votes for lifelong Democrats Chelsa Wagner and John Weinstein to get their names on the November ballots as Republicans, but it
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