AUSTERITY & OPPRESSION SUPPORTERS VS THE PROGRESSION Of The REST OF US
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Inequality Is Holding Back The Recovery | NY Times

Inequality Is Holding Back The Recovery | NY Times | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

By Joseph Stiglitz

 

There are four major reasons inequality is squelching our recovery. The most immediate is that our middle class is too weak to support the consumer spending that has historically driven our economic growth. While the top 1 percent of income earners took home 93 percent of the growth in incomes in 2010, the households in the middle — who are most likely to spend their incomes rather than save them and who are, in a sense, the true job creators — have lower household incomes, adjusted for inflation, than they did in 1996. The growth in the decade before the crisis was unsustainable — it was reliant on the bottom 80 percent consuming about 110 percent of their income.

 

Second, the hollowing out of the middle class since the 1970s, a phenomenon interrupted only briefly in the 1990s, means that they are unable to invest in their future, by educating themselves and their children and by starting or improving businesses.

 

Third, the weakness of the middle class is holding back tax receipts, especially because those at the top are so adroit in avoiding taxes and in getting Washington to give them tax breaks. The recent modest agreement to restore Clinton-level marginal income-tax rates for individuals making more than $400,000 and households making more than $450,000 did nothing to change this. Returns from Wall Street speculation are taxed at a far lower rate than other forms of income. Low tax receipts mean that the government cannot make the vital investments in infrastructure, education, research and health that are crucial for restoring long-term economic strength.

 

Fourth, inequality is associated with more frequent and more severe boom-and-bust cycles that make our economy more volatile and vulnerable. Though inequality did not directly cause the crisis, it is no coincidence that the 1920s — the last time inequality of income and wealth in the United States was so high — ended with the Great Crash and the Depression. The International Monetary Fund has noted the systematic relationship between economic instability and economic inequality, but American leaders haven’t absorbed the lesson.

 

Our skyrocketing inequality — so contrary to our meritocratic ideal of America as a place where anyone with hard work and talent can “make it” — means that those who are born to parents of limited means are likely never to live up to their potential. Children in other rich countries like Canada, France, Germany and Sweden have a better chance of doing better than their parents did than American kids have. More than a fifth of our children live in poverty — the second worst of all the advanced economies, putting us behind countries like Bulgaria, Latvia and Greece.


Via Lynda Park
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AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US
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Kushner used private email to conduct White House business

Kushner used private email to conduct White House business | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The senior adviser set up the account after the election. Other West Wing officials have also used private email accounts for official business.
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Obama tried to give Zuckerberg a wake-up call over fake news on Facebook

Obama tried to give Zuckerberg a wake-up call over fake news on Facebook | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The company’s investigation at first feared a Russian hack. It then uncovered a sweeping disinformation campaign brought by shadowy accounts.
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Iraqi Kurds casting votes on independence - CNN Video

Iraqi Kurds casting votes on independence - CNN Video | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Iraqi Kurds head to the polls to vote in an advisory referendum on independence from Iraq. CNN's Nima Elbagir has more.
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Angela Merkel Is Headed for German Election Victory as Far Right Enters Parliament

Angela Merkel Is Headed for German Election Victory as Far Right Enters Parliament | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
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Fired by Trump, Bharara Fires Back

Fired by Trump, Bharara Fires Back | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A lot has changed for Preet Bharara since March 11.
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In Beijing and Abu Dhabi, Signs of Bannon’s Continued Influence

In Beijing and Abu Dhabi, Signs of Bannon’s Continued Influence | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Monica S Mcfeeters's insight:
I think most in this nation agree that Bannon speaks for himself and not our nation.
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Community Weaving | The Change Handbook

Community Weaving | The Change Handbook | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
For More Information: Community Weaving, www.communityweaving.orgPurpose: To weave the human and tangible resources of the grass roots with the knowledge and skills of formal systems using Web-based technology.Outcomes:
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CNN to host health-care debate with ObamaCare repeal sponsors

CNN to host health-care debate with ObamaCare repeal sponsors | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sens. Bernie Sanders (I-Vt.) and Amy Klobuchar (D-Minn.), opponents of the new health-care bill, will debate its co-sponsors, Sens. Bill Cassidy (R-La.) and Lindsey Graham (R-S.C.).
Monica S Mcfeeters's insight:
I am definitely tuning into this town hall! To me it is health care vs health insurance... one is not the same as the other. People with health insurance often still can't afford health care.
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Trump aides begin looking for the exits

Trump aides begin looking for the exits | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
After a wave of high-profile White House departures this summer, staffers who remained are reaching out to headhunters to discuss their next moves.
Monica S Mcfeeters's insight:
Excerpt: "They’re talking to headhunters about positions as in-house government affairs experts at major companies, or as executives at trade associations, universities, or consulting firms – ironically, jobs that run counter to Trump’s “drain the swamp” mantra."
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EU to find ways to make Google, Facebook and Amazon pay more tax | Jennifer Rankin | The Guardian

EU to find ways to make Google, Facebook and Amazon pay more tax | Jennifer Rankin | The Guardian | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it

The EU is pushing ahead with plans to rewrite tax rules for technology companies, aimed at increasing governments’ take from the likes of Google, Facebook and Amazon.

The European commission is looking at ways to capture tax from companies that may have no offices, shops or other physical presence in a country, but are accruing profits through large numbers of online users or customers.

A report published by the commission on Thursday said technology companies paid less than half the tax of bricks-and-mortar businesses.

A digital business with international operations typically pays a 10.1% tax rate in the EU, compared with a 23.2% rate levied on traditional companies, said the report.


Click headline to read more and access hot links--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
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Mueller Seeks White House Documents Related to Trump’s Actions as President

Mueller Seeks White House Documents Related to Trump’s Actions as President | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
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Trump picks lawyer who works to restrict minority votes as head of civil rights at Homeland Security

Trump picks lawyer who works to restrict minority votes as head of civil rights at Homeland Security | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In what is sure to be another devastating blow to minority rights under the Trump administration, Donald Trump has chosen a woman named Cameron Quinn to head civil rights at the Department of Homeland Security (DHS). Since we know that all o
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Price’s private-jet travel breaks precedent

Price’s private-jet travel breaks precedent | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
HHS secretary took chartered aircraft on five flights last week, while his predecessors would fly commercial.
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Obama tried to give Zuckerberg a wake-up call over fake news on Facebook

Obama tried to give Zuckerberg a wake-up call over fake news on Facebook | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The company’s investigation at first feared a Russian hack. It then uncovered a sweeping disinformation campaign brought by shadowy accounts.
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A Divider Not a Uniter, Trump Widens the Breach

A Divider Not a Uniter, Trump Widens the Breach | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Monica S Mcfeeters's insight:
United We Stand & Divided We Fall
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The cost of Parkinson’s and other chronic illnesses…

The cost of Parkinson’s and other chronic illnesses… | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
  Although, fortunately the new health reform bill was turned down last night we as patients still face the uncertainty of what the future healthcare system will bring reform will bring. Thus,…
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Senate's bill to repeal, replace ObamaCare 'not dead,' top Trump adviser says

Senate's bill to repeal, replace ObamaCare 'not dead,' top Trump adviser says | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The White House tried Sunday to garner public support for the Senate’s upcoming ObamaCare vote, with a top President Trump adviser saying the pending legislation is still alive and that a “vast majority of Americans” will benefit.
Monica S Mcfeeters's insight:
The Republicans all say we need to shop across state lines to fix the health insurance by allowing consumers to shop across state lines and not letting people wronged or destroyed by medical care personnel, tools or medicine sue through tort reform.... now they want the states to handle it all within the state borders just to get rid of obama care? They also fought a Obamacare's version to include and offer all uninsured the option to buy into federal insurance group plans like the Senators enjoy. The GOP was Misleading the public to think that allowing uninsured to join their own insurance options was a government take over of medical care and insurance. It was not. The federal government has the ultimate group of shopping across state lines insurance offerings and the only ones. Federal plans are normally listings of regional large companies the federal government contracts with and unlike most employer insurance the federal employees really have choices among a number of companies and group plans. GOP is not pro consumer.
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Fighting Breaks Out at Turkish President’s Speech in New York

Fighting Breaks Out at Turkish President’s Speech in New York | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
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21 states told their election systems were targeted by hackers

21 states told their election systems were targeted by hackers | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
In most cases the systems were not breached, the federal government said. Election officials in three states said the attempts could be linked to Russia.
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Weaving Together the Silos of Community Development - Shelterforce

Weaving Together the Silos of Community Development - Shelterforce | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
The New Year—both 2014 and the Lunar New Year—provides a time for reflection and visioning; a time to ask: “How do we properly weave our collective work to push forward?” In previous posts, I've talked about the term Ho‘owaiwai as a way to articulate what families have recognized as genuine wealth: relationships that are the …
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Filth spreads Yemen's deadly cholera outbreak

Filth spreads Yemen's deadly cholera outbreak | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Yemen's cholera outbreak is so widespread that just drinking water can lead to death.
Monica S Mcfeeters's insight:
This may come to be the shame of a future nearby King for a very long time. This also doesn't shake out well for other nations that indirectly allow this to occur.
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Reason Foundation

Reason Foundation | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Reason Foundation Background The Reason Foundation is a libertarian 501(c)(3) nonprofit organization founded in 1978 that describes itself as advancing "free society by developing, applying, and promoting libertarian principles, including individual liberty, free markets, and the rule of law." [1] 
Monica S Mcfeeters's insight:
Proud Member of ALEC. Supporter of Ayn Rand's "Virtues of Selfishness" anti-Christian morality. Funded be Koch money.  Influences the GOP.
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Russia threatens retaliatory strikes against U.S. troops and their allies in Syria

Russia threatens retaliatory strikes against U.S. troops and their allies in Syria | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Moscow accused U.S.-backed rebels of shelling positions where Russian forces were active amid competing offensives in the eastern Syrian desert.
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'A country teetering on the precipice': Castro's Cuba in pictures

'A country teetering on the precipice': Castro's Cuba in pictures | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
As an American in 1990s Cuba, Tria Giovan risked being branded a traitor. But the photographer continued to visit and, from the dance hall to the hair salon, she captured the resilient spirit of the Cuban people during the dark days of Castro’s reign
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