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
GOP News, Libertarian news, Democratic News, World News and Reflections of Trends & Events that impact Austerity, Oppression or Progression of Societies.
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Angela Merkel says Germany can no longer rely on America under Donald Trump

Angela Merkel says Germany can no longer rely on America under Donald Trump | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Angela Merkel has suggested Germany and Europe can no longer rely on the US under Donald Trump. Speaking at a campaign event held in a Bavarian beer tent, the German Chancellor emphasised the need for friendly relations with the US, Britain and Russia, but added: “We Europeans must really take our destiny into our own hands.” 
Monica S Mcfeeters's insight:
Trump First leaves our poor and the rest of the world last.... As we abandon the other western countries they can no longer trust the USA. Syria counts and others count on Russia to help the leaders suppress the will of their people and that is so far Russia's strong hand... So what does Trump want from Russia?
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Election Justice USA Study Finds that Without Election Fraud Sanders Would Have Won by Landslide

Election Justice USA Study Finds that Without Election Fraud Sanders Would Have Won by Landslide | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Election Justice USA finds that Bernie Sanders lost an estimated 184 delegates to Election Fraud:


Well, 184 is only the upper estimate considering election fraud. Not even counting in the immense MSM bias, lack of debates, DN
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Jill's Southern Retreat near Charleston in Goose Creek, South Carolina, United States

Jill's Southern Retreat near Charleston in Goose Creek, South Carolina, United States | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
May 28, 2017 - Private room for €64. Embraces at hello all guests traveling for business or pleasure ... only 27 minutes to historic Charleston ... a cozy home away from home
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White House relents in fight with ethics office over waiver disclosure

White House relents in fight with ethics office over waiver disclosure | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
By June 1, the administration will publicly post waivers given to appointees who have been exempted from aspects of federal ethics rules.
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White House Backs Down on Keeping Ethics Waivers Secret

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I wonder if the FCC chairman got a waiver as a former Lawyer for Verizon.
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Trump Abandons the Human-Rights Agenda

Trump Abandons the Human-Rights Agenda | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Michael Posner on how Donald Trump’s embrace of autocrats and his recent speech in Saudi Arabia indicate that he is ignoring human-rights concerns.
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DHS secretary: People would 'never leave the house' if they knew what I knew

DHS secretary: People would 'never leave the house' if they knew what I knew | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Department of Homeland Security Secretary John Kelly said Friday that the American public would "never leave the house" if they knew what he knew about terrorist threats.
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Mitch McConnell Just Sent a Revealing Signal to Donald Trump

Mitch McConnell Just Sent a Revealing Signal to Donald Trump | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Are Senate Republicans close to giving up on Obamacare?
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A Journalist Was Body Slammed, but Some Conservatives Want the News Media to Apologize

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NAFTA’s Wreckage Shows Why It Must Be Replaced, Not Tweaked

NAFTA’s Wreckage Shows Why It Must Be Replaced, Not Tweaked | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
During the campaign, candidate Donald Trump called the North American Free Trade Agreement (NAFTA) a “disaster” and promised he would renegotiate it t
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President Trump's Speech at Israeli Parliament Canceled Amid Fears He Would Be Heckled

President Trump's Speech at Israeli Parliament Canceled Amid Fears He Would Be Heckled | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A proposal that Donald Trump would speak before the Knesset during his visit to Israel was scrapped over fears he would be heckled
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Senate Republicans likely to change custom that allows Democrats to block judicial choices

Senate Republicans likely to change custom that allows Democrats to block judicial choices | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Under “blue slip” practice, nominations don’t proceed unless home-state senators approve.
Monica S Mcfeeters's insight:
I don't know may if we just all click our heels and do a Hitler salute to them then the GOP can just drop their fake crosses and throw those unborn babies in the same pit they want to throw everyone else not on their Borg style, one brain for all mindset. Jesus surely would flip their tables of greedy, selfless, pushing of their will on the earth take over. Last I checked God gave mankind freewill.... These arrogant jerks feel quite free to over ride that. If we are just going to force everyone to things I suggest we force all these people wanting to force everyone else to think exactly like them into a big arena with lots of processed foods, soda and beer and lock them in there for 20 years while everyone else goes on with their lives in peace. Stick ISIS and folks like that in there with them they are cut from the same mold... of my way or no way!
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British Lawmakers Rage at the U.S. Over 'Incomprehensible' Leaks to Media on Manchester

British Lawmakers Rage at the U.S. Over 'Incomprehensible' Leaks to Media on Manchester | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
But British lawmakers tell TIME the alliance has to remain strong as the fight against extremism continues
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Trump Was So Tired That He Had To Ride In A Golf Cart While Other G7 Leaders Walked

Trump Was So Tired That He Had To Ride In A Golf Cart While Other G7 Leaders Walked | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Here is a picture of just how much Trump is weakening the image of the Uvnited States. While the leaders of Italy, Japan, Canada, France, Germany and the UK walked together down the streets of Taormina, Trump led from behind in a golf cart.
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SPLC suit: Mississippi violates binding obligation to provide ‘uniform’ system of public education

SPLC suit: Mississippi violates binding obligation to provide ‘uniform’ system of public education | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Mississippi has repeatedly violated a nearly 150-year-old, legally binding obligation to operate a “uniform system of free public schools” for all children, an obligation placed on the state as a condition of rejoining the Union after the Civil War, according to a federal lawsuit filed today by the Southern Poverty Law Center.
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A high-stakes gamble: How Jared Kushner reacted to previous crises

A high-stakes gamble: How Jared Kushner reacted to previous crises | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
He vastly overpaid for the nation’s most expensive office building and struck back at his foes.
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Two men stabbed to death on Oregon train trying to stop anti-Muslim rant

Two men stabbed to death on Oregon train trying to stop anti-Muslim rant | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
A man fatally stabbed two passengers aboard a Portland, Oregon, commuter train after they tried to stop him from harassing two young women who appeared to be Muslim, police said on Saturday.
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White House Backs Down on Keeping Ethics Waivers Secret

Monica S Mcfeeters's insight:
I wonder if the FCC chairman got a waiver as a former Lawyer for Verizon.
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Russian ambassador told Moscow that Kushner wanted secret communications channel with Kremlin

Russian ambassador told Moscow that Kushner wanted secret communications channel with Kremlin | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sergey Kislyak’s account of the meeting was captured by U.S. intelligence.
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Russian ambassador told Moscow that Kushner wanted secret communications channel with Kremlin

Russian ambassador told Moscow that Kushner wanted secret communications channel with Kremlin | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Sergei Kislyak’s account of the meeting was captured by U.S. intelligence.
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Amy Reed, Doctor Who Fought a Risky Medical Procedure, Dies at 44

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Republican Greg Gianforte wins Montana special election, CNN projects

Republican Greg Gianforte wins Montana special election, CNN projects | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Republican Greg Gianforte has won the special election for Montana's open US House seat, CNN projects, defeating Democrat Rob Quist and capping off a whirlwind final 36 hours of the campaign that saw Gianforte being charged for allegedly assaulting a reporter.
Monica S Mcfeeters's insight:
I really don't get it. It appears that GOP supporters can forgive groping women that don't want to be groped, body slamming reporters that ask perfectly regular questions, slandering and outright lies and hate talk. And those very people they are forgiving will soon treat many of their supporters the same way or worse through policy that will offer the rich the world and the working person the crumbs...  if that. 
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Trump Reportedly Called Germans 'Very Bad,' Vowed To Stop German Car Sales In The U.S.

Trump Reportedly Called Germans 'Very Bad,' Vowed To Stop German Car Sales In The U.S. | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
“See the millions of cars they are selling in the U.S. Terrible."
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Jared Kushner now a focus in Russia investigation

Jared Kushner now a focus in Russia investigation | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Investigators are looking in particular at meetings the president’s son-in-law held in December with Russians, people familiar with the matter said.
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‘Anyone . . . with a pulse’: How a Russia-friendly adviser found his way into the Trump campaign

‘Anyone . . . with a pulse’: How a Russia-friendly adviser found his way into the Trump campaign | AUSTERITY & OPPRESSION SUPPORTERS  VS THE PROGRESSION Of The REST OF US | Scoop.it
Carter Page appeared as Trump needed a foreign policy team. The story behind his arrival could answer key questions in the Russia probe.
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