Make no mistake. Social Security is on the line in this election. The Republicans, including John McCain, want to destroy Social Security as we know it, even though this system has served us well over the past 73 years. In honor of the 73rd anniversary of Social Security, the Democratic Party presents this video.
Continue reading →The Tax Policy Center has published an exhaustive comparison of the candidate’s tax policies. They see a stark difference. The two candidates’ plans would have sharply different distributional effects. Senator McCain’s tax cuts would primarily benefit those with very high incomes, almost all of whom would receive large tax cuts that would, on average, raise their after-tax incomes by more than twice the average for all households. Many fewer households at the bottom of the income distribution would get tax cuts and those whose taxes fall would, on average, see their after-tax income rise much less. In marked contrast, Senator … Continue reading →
It’s not just in the U.S., and it’s worse than you think. Read this Washington Post article on the superrich of the world. They’re not like you and me. Today, the world’s more than 1,100 billionaires have a net worth that’s roughly double that of the bottom 2.5 billion people on the planet. The richest 10 percent of adults worldwide own 85 percent of global wealth, while the poorest half only barely one percent. The world’s almost 10 million millionaires have seen their wealth double to nearly $37 trillion over the past 10 years.
Continue reading →The BBC reports on people in Los Angeles who have been made homeless by the mortgage crisis. As long as the rich get their welfare, I guess it’s all okay. UDPATE: More on the homeless there from the L.A. Times.
Continue reading →The two issues are not separate.
Continue reading →Pretty soon you’re talking real money. Billionaires no longer rich enough to make Forbes list. For the first time, $1 billion isn
Continue reading →Well it is, if all you look at are corporate profits. Via Kevin Drum, I discovered this report from the Economic Policy Institute. It analyzes current economic growth (4th quarter 2006) compared to economic growth averaged across previous economic cycles. The snapshot shows several areas including GDP, employment growth, and business investment, and all areas are below normal growth, except for one
Continue reading →Then you must be very well off. UPDATE: A friend points out to me that half of U.S. families fall into that $50k and under segment. UPDATE: In 2002:
Continue reading →…to honestly discuss poverty in the United States. From the article: 37 million poor hidden in the land of plenty Americans have always believed that hard work will bring rewards, but vast numbers now cannot meet their bills even with two or three jobs. More than one in 10 citizens live below the poverty line, and the gap between the haves and have-nots is widening… An America divided
Continue reading →In the fight to save Social Security, the next six weeks are crucial. In the Washington Post today, Mike Allen writes: White House officials are telling Republican lawmakers and allies on K Street that they must begin to overcome opposition to President Bush’s proposal for changing Social Security within six weeks, GOP strategists said yesterday. The GOP strategists stressed that the six-week goal is not a hard deadline for a political breakthrough, but they said the public’s tepid view of Social Security change cannot be allowed to continue indefinitely. The directive raises the possibility that Republicans will have to reconsider … Continue reading →
