Former U.S. Secretary of Labor Robert Reich makes an eloquent and impassioned argument about how the devastating effects of America's widening income inequality not only threaten the middle class but also the very foundation of democracy itself. Please support the filmmakers & on-going project here: http://inequalityforall.com
Showing posts with label inequality. Show all posts
Showing posts with label inequality. Show all posts
6 Sept 2015
1 Apr 2014
There’s a Class War Going On and the Poor Are Getting Their Butts Kicked
Although they say they're concerned about inequality, economic policymakers continue to pummel low-income families and the jobless, and that’s bad for all of us.
A year ago I asked if Karl Marx was, in certain respects, right about capitalism, and argued that class struggle was making a comeback. The German philosopher believed the capitalist system was inherently unjust. Capitalism, Marx predicted, would inevitably concentrate wealth in the hands of a few while impoverishing everyone else. There is ample evidence that Marx’s theorizing is becoming reality.
Meanwhile in the US…
WAR ON THE POOR - Ryan Budget Slashes Food Stamps, Health Care For Poor, Assistance To Low-Income College Students, Federal Worker Pensions... Huffington Post
5 Dec 2011
Income inequality growing faster in UK than any other rich country
Income inequality among working-age people has risen faster in Britain than in any other rich nation since the mid-1970s owing to the rise of a financial services elite who through education and marriage have concentrated wealth into the hands of a tiny minority, according to a new report by the OECD.
Economists from the thinktank, which is funded by developed world taxpayers, say the annual average income in the UK of the top 10% in 2008 was just under £55,000, about 12 times higher than that of the bottom 10%, who had an average income of £4,700.
This is up from a ratio of eight to one in 1985 and significantly higher than the average income gap in developed nations of nine to one. However, the report makes clear that even in countries viewed as "fairer" – such as Germany, Denmark and Sweden – this pay gap between rich and poor is expanding: from five to one in the 1980s to six to one today. In the rising powers of Brazil, Russia, India and China the ratio is an alarming 50 to one.
The OECD warned about the rise of the top 1% in rich societies and the falling share of income going to poorer people.
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