Tag Archives: income inequality

Oxfam says wealth of richest 1% equal to other 99%

The richest 1% now has as much wealth as the rest of the world combined, according to Oxfam.

It uses data from Credit Suisse from October for the report, which urges leaders meeting in Davos this week to take action on inequality.

Oxfam also calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population.

It criticised the work of lobbyists and the amount of money kept in tax havens.

Oxfam predicted that the 1% would overtake the rest of the world this time last year.

Read more » BBC
See more » http://www.bbc.com/news/business-35339475

I am a cook in the US Senate but I still need food stamps to feed my children

By 

I work 70 hours a week doing two jobs but cannot make ends meet. Presidential hopefuls must make profitable federal contractors pay living wages

Every day, I serve food to some of the most powerful people on earth, including many of the senators who are running for president: I’m a cook for the federal contractor that runs the US Senate cafeteria. But today, they’ll have to get their meals from someone else’s hands, because I’m on strike.

I am walking off my job because I want the presidential hopefuls to know that I live in poverty. Many senators canvas the country giving speeches about creating “opportunity” for workers and helping our kids achieve the “American dream” – most don’t seem to notice or care that workers in their own building are struggling to survive.

I’m a single father and I only make $12 an hour; I had to take a second job at a grocery store to make ends meet. But even though I work seven days a week – putting in 70 hours between my two jobs – I can’t manage to pay the rent, buy school supplies for my kids or even put food on the table. I hate to admit it, but I have to use food stamps so that my kids don’t go to bed hungry.

Courtesy: The Guardian

30,000 Canadians are homeless every night

200,000 Canadians are homeless in any given year, national report says

By CBC News

Despite sporadic success in addressing homelessness in Canada, little progress has been made toward a permanent cross-country solution, says a national report into the extent of the problem.  The report’s initial numbers tell a grim story. Among the report’s findings:

At least 200,000 Canadians experience homelessness in any given year.
At least 150,000 Canadians a year use a homeless shelter at some point.
At least 30,000 Canadians are homeless on any given night.
At least 50,000 Canadians are part of the “hidden homeless” on any given night — staying with friends or relatives on a temporary basis as they have nowhere else to go.

Read more » CBC
See more » http://www.cbc.ca/news/canada/30-000-canadians-are-homeless-every-night-1.1413016

 

Empty wallets explain new levels of partisan hatred

By  | Daily Ticker

new study by Pew Research verifies much we already know about political extremism in America: It’s getting worse and interfering with social and economic progress. The big question is: Why?

Pew doesn’t address that question, but here’s a plausible answer: Voters are becoming angrier because living standards are falling and the middle class is shriveling. Prosperity breeds comity, but when it gets harder to get ahead, the natural inclination is for the losers to look for somebody to blame and the winners to feel more threatened. That’s been going on for nearly 30 years. Income inequality began to worsen in the United States starting around the early 1980s.

Read more » Yahoo News
https://ca.finance.yahoo.com/blogs/daily-ticker/empty-wallets-explain-why-democrats-and-republicans-hate-each-other-191155158.html

The New 1% isn’t just the Rich, it is the Spoiled Oligarch Heirs (Krugman)

Economist Paul Krugman explains how the United States is becoming an oligarchy – the very system our founders revolted against.

Bill Moyers interviews Paul Krugman

” Capital in the Twenty-First Century by Thomas Piketty, a 42-year-old who teaches at the Paris School of Economics, shows that two-thirds of America’s increase in income inequality over the past four decades is the result of steep raises given to the country’s highest earners.

This week, Bill talks with Nobel Prize-winning economist and New York Times columnist Paul Krugman, about Piketty’s “magnificent” new book.

“What Piketty’s really done now is he said, ‘Even those of you who talk about the 1 percent, you don’t really get what’s going on.’ He’s telling us that we are on the road not just to a highly unequal society, but to a society of an oligarchy. A society of inherited wealth.”

Krugman adds: “We’re seeing inequalities that will be transferred across generations. We are becoming very much the kind of society we imagined we’re nothing like.” ”

Courtesy: http://www.juancole.com/2014/04/spoiled-oligarch-krugman.html