Archive for category Equality

Americans Rank 26th in Median Wealth

Inequality cycle
Source: Credit Suisse Global Wealth Databook 2014

Financialization of the economy is both a symptom and a major cause of inequality. Financialization is when making money from money becomes more important than providing real goods and services. It’s characterized by risky asset bubbles and periodic crashes that affect everyone in the 99 Percent because we’re not “too big to fail.” Les Leopold: “Wall Street is out of control. Once deregulation started 30 years ago, money has gushed to the top as Wall Street was free to find more and more unethical ways to fleece us.”

The result: Despite the fact we’re the richest country in the world, U.S. median wealth is just $53,352 according to the Credit Suisse Global Wealth Databook (PDF).

Les Leopold, again:

The U.S. continues to lead the world in billionaires (571 in 2014, with China a distant second at 190). But after decades of financial deregulation and attacks on employee rights, Americans rank 26th in median wealth (defined as assets owned, minus debts owed for the person on the middle rung of the wealth ladder).

The Gini index for the USA has risen to 84.6 (with 0 representing perfect equality and 100 representing perfect inequality). Very few countries can top that, and not by much.

15 Comments

Ferguson Grand Jury – Unsurprising, Far too Typical and Despair Inducing

Martin Longman’s take at Washington Monthly is apt:

Officer Darren Wilson should have been given the opportunity to defend his actions in a court of law. He could well have won an acquittal. But what’s clear is that the moment after he ended Michael Brown’s life, the system went into overdrive to protect him and to justify what he had done. They made sure that killing Michael Brown was not a crime. It wasn’t even maybe a crime. It was just what police officers do in America without having to worry that they might have to answer for it in court.

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Nick Hanauer: Another Thing Obama Can Do Without Congress

Nick Hanauer

Seattle-based venture capitalist Nick Hanauer offers a smart policy proposal that President Obama could implement with a stroke of the pen. The President could raise wages and create jobs by directing the Department of Labor to expand the number of workers who can receive overtime pay. Sign the petition.

More from Democracy for America:

President Obama: Expand overtime pay!

We urge you to instruct the Department of Labor to significantly expand the number of workers eligible for federal overtime pay. By raising the salary threshold to $69,000, we would finally achieve the same eligibility for overtime pay that we had in 1975.

We also urge you to revise the rules in order to reduce the number of exemptions from overtime pay. Teachers, federal employees, doctors, computer professionals (anyone who uses a computer), and many more professional workers have been working overtime and increasing their productivity but aren’t seeing the benefits of their labor. They should also be eligible for overtime pay.

Revise the rules to expand overtime pay without delay.

More info:
Whatever Happened to Overtime?

Read the rest of this entry »

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How Fast Will YOU Be Able To Innovate?

Get Ready To Wait

Get Ready To Wait

No matter what political stripe you are, you are excited about Obama’s fierce defense of Net Neutrality lately. The problem is that he is standing up for something he can’t personally affect. It’s the FCC that will make that decision and the big downer is that the man Obama appointed to head the FCC , (Tom Wheeler), used to be a cable lobbyist.

Perfect. :(

Anyway, the best debate you’ll probably hear about the issue was on the Diane Rhem show from November 12th, since I don’t think there’s any way a public hearing will take place. The last time the FCC did that, it was an embarrassing spectacle for the commission as they faced an auditorium of very angry citizens back in the Bush days.

Diane likes to have a fair discussion, but I thought I could tell what side she was on. It’s not hard to be on the side of “Net Neutrality” because 4 million Americans have sent letters to the FCC about the issue, and I can guarantee you that a tiny fraction of the letters were for letting internet providers discriminate about the speed of the websites we choose.

It was a sensible discussion except for one panel member who was obviously there to bolster a corporate controlled internet. he’s Rob Atkinson, the president of something called, “The Information Technology & Innovation Foundation”. I get weary when ever I see the word innovation these days, because it usually means something like ‘get out of the way little man; we’ll decide what’s best’.

Atkinson doesn’t waste much time using the fear of government meme so popular with liars these days.

ROB ATKINSON:

All the major carriers, Verizon, Comcast, all the rest of them have committed never to block legal content, never to degrade legal content.It’s a red herring that the other side is doing because what they want is they want a regulated utility model and ultimately they want a government-owned model. That’s their game.

MARVIN AMMORI, (attorney in private practice, affiliate scholar, Stanford Law School’s Center for Internet & Society):

… When you look at the people who have lined up against net neutrality, it’s just the big cable and phone companies and the organizations like Rob’s that got funding from them. That’s it.

I’ve never heard Diane Rhem prod all other panel members to give their opinion on whether another guest was lying before, but I was delighted to hear this part of the show:

ROB ATKINSON:

In the famous case that Marvin’s talking about with what’s called the Comcast BitTorrent Case, Comcast did not block anything

DIANE REHM:

Marvin.

MARVIN AMMORI:

So I think Rob is just trying to throw some fud out there. The FCC found that Comcast was blocking. We proved it.

ROB ATKINSON:

No, they did not.

MARVIN AMMORI:

They did. It’s in the order. I litigated that decision. I argued that decision. I wrote the complaint in that case. And the CE…

DIANE REHM:

Did they or did they not?

GIGI SOHN, (special counsel for external affairs, Federal Communications Commission):

Yes, they did.

ROB ATKINSON:

They were slowing up…

MARVIN AMMORI:

The CEO of BitTorrent is a friend of mine and we collaborated the entire time during that case, both CEOs then and now.

DIANE REHM:

Cecilia, did they or did they…

CECILIA KANG, (reporter, The Washington Post):

They did, they did.

Oops!

I also thought it was funny that Atkinson was trying to make the case that most people really don’t care that much about high speeds after a question from a caller:

ROB ATKINSON:

What is true is very, very few consumers will pay even 5 or $10 more a month for the next tier up. So there — I can get 100 megabits to my house where I live in Washington, D.C. I don’t get it because I don’t want to pay the extra. Most consumers are like that. They just won’t pay a few dollars more for high speeds.

CECILIA KANG:

…So the idea that people don’t want to upgrade, I mean, I would love, if I could afford, to get the fastest no matter what. Nobody would say no to that if possible.

Amen and amen Cecilia!

It’s an interesting debate and, as usual, the transcripts and audio can be found at Rehms site.

37 Comments

WaPo/ABC Poll: 1 Percent Say U.S. Economy is ‘Excellent’

Washington Post-ABC News poll Oct. 23-26, 2014
The 1% says economy is excellent
Mr. Burns

1 Comment

Half of the Country Hasn’t Taken a Vacation Day Yet In 2014

The Go-Go’s – Vacation from Dan Hunter on Vimeo.

h/t Think Progress.

From the travel website Skift:

We asked Americans, using Google Consumer Surveys, “Heading into Fall, how many vacation days have you taken so far this year?” The majority, almost 51 percent, say they haven’t taken a single vacation day in 2014 so far.

About 15 percent of Americans say they have taken more than 10 vacation days this year, while the rest is split between those who took fewer than 5, and those who took between 5-10 vacation days this year.

The other topline result from the breakdown, as you will see in the charts below: Women, young, old,and the lower-income Americans are the ones taking the least amount of vacations.

Of course, nearly 1 in 4 US workers don’t get any paid vacation days.

Nearly a quarter of the American private-sector workforce, some 26 million workers, doesn’t get paid time off, according to the Bureau of Labor Statistics — compared with less than one-fifth in the 1990s.The United States is the only advanced economy that doesn’t guarantee paid vacation and one of only 13 countries in the world not to do so, according to the World Policy Analysis Center at the University of California Los Angeles.

The American middle class was great, while it lasted.

131 Comments

Elisabeth Hasselbeck Destroys Utah Civics Education Initiative

Elisabeth Hasselbeck

Faux News Channel host Elisabeth Hasselbeck accidentally pulverized the Utah Civics Education Initiative in one interview. Raw Story:

On Monday, Utah Civics Education Initiative co-chair Lorena Riffo-Jensen told Hasselbeck that requiring a civics test was a good first step for encouraging students to be involved in the community.

Hasselbeck suggested taking the idea “one step further” by requiring a test to vote.

It might make elections “more meaningful,” she said. OK, what could possibly go wrong?

Civics education is important, especially if students learn the extent to which our political system has become corrupt and dysfunctional. But any educational change that Overstock.com is pushing makes me very suspicious – millionaire Patrick Byrne, the founder of Overstock, you may recall, was a driving force in the failed attempt 7 years ago to institute a private school voucher system in Utah that would have undermined public education.

More info:
Proposal: Pass citizenship test to graduate from Utah high school
Take the Impossible “Literacy” Test Louisiana Gave Black Voters in the 1960s

9 Comments

What We Teach About Women and Consent

Lets be clear for a moment. Rush Limbaugh is one of the most disgusting pieces of raw sewage to ever be flushed through the pipes of the waste system that we call American conservatism. There is no good reason for his continued existence, let alone his being allowed on Armed Forces radio. To refer to him as a waste of good air assumes that he breathes, rather than just drawing power from the festering pile of ignorance that he stores where others have a soul.

But he said something right the other day. Something worth quoting. Something disturbing.
Read the rest of this entry »

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Equal Justice Under the Law – NOT

Ferguson, MO

At the Bundy Ranch standoff, so-called right-wing militia members aimed assault weapons at law enforcement officers. No arrests were made, and Cliven Bundy remains a free man. Last night in Ferguson, Missouri, an overwhelming police force including SWAT teams rampaged through residential streets firing stun grenades, tear gas, and rubber bullets. They attacked peaceful, unarmed protesters and arrested reporters. The city never imposed a curfew, which means citizens were supposed to be allowed to assemble and exercise their First Amendment rights.

Something is wrong. The media are blaming so-called “homeland security” and the militarization of even small-town police departments, which can buy a surplus MRAP from the Army for only $5,000 even if they don’t need one. Worse than that, there seems to be a trend of police use of deadly force against unarmed suspects – many of whom are being shot multiple times or shot in the back.

More info:
Ferguson Seeks Answers After Police Shooting Of Michael Brown
Does the Second Amendment Only Apply to White People?
Alderman, 2 reporters arrested as Ferguson erupts for 4th night
Did Police Use Excessive Force Against Ferguson Protesters?
Ferguson’s Police Got Free Military Gear Straight From The Pentagon

68 Comments

From 2003-2013, Ordinary Americans Lost a Third of Their Wealth

Via Alternet:

According to new research (PDF) supported by the Russell Sage Foundation, middle class Americans are getting poorer (OK, we knew that, but now the numbers are in – and they are startling).

For the study, researchers gathered information on families in the middle of the wealth distribution continuum. What they found is that in 2003, the inflation-adjusted net worth for the typical household was $87,992. Fast-forward 10 years: that figure is down to a mere $56,335.

Ordinary Americans got 36 percent poorer in just a decade.

…The upshot is that regular people have endured one of the worst periods in recent memory. It will not surprise you to learn that during the same decade of 2003-2013, the rich were partying down. In the 95th percentile of wealth distribution, people got 14 percent richer.

That oughta brighten your day.

More info:
What Recovery? You Probably Became Poorer In the Last 10 Years
Americans In Debt: 35 Percent Have Unpaid Bills Reported To Collection Agencies

8 Comments

None of us should be surprised Wasatch High Officials are a bunch of sexist prudes

I suppose in all fairness, we should probably acknowledge that girls in small town Utah are all sluts. And in digitally altering their photos to make their clothing appear modest, school officials are actually doing them a favor so their slutdom won’t be memorialized. Right? Seriously? Amirite?

The contretemps over Wasatch High School’s decision to alter girls photos has gone national and as with many such stories out of Utah, has served to make the entire state look like a bunch of pearl-clutching prudes. Honestly, school officials should have known there was no way this would turn out well and have not done it in the first.

The free-range morons who run Wasatch High School have defended their decision to edit the photos. Their defense would be hilarious if it weren’t obvious that they’re serious about it. Their argument is that students were warned they should not violate dress code and photos might be edited – and that they feel bad it was inconsistently done. In other words, “Why won’t all you sluts shut up and stop causing trouble?”

The editing involved adding sleaves to sleeveless tops, removing tattoos and adding necklines that the bluenoses think are more fitting. Of course the whole sorry affair is about nothing more than slut-shaming and double standards. It’s about a religious culture that tries to convince girls to cover up lest they inflame male desire. It’s about a cult of modesty that distrusts women and disdains female sexuality. It’s about a double standard that says it’s women’s job to control male sexuality by not doing anything that might possibly make people think women are sexual beings.

That photos of boys weren’t edited at all is no surprise. Of course there’s a double standard at work. Of course it’s sexist. The problem with the girls’ outfits is entirely in the minds of school officials who deemed them too sexy, not in what the girls were wearing or what their tattoos said.

9 Comments

Bill O’Reilly: ‘Listen to The Master… I Just Destroyed This Inequality Myth’

h/t The Raw Story (Click on the X to make the ad go away)

Faux News host Bill O’Reilly chided his colleague Megyn Kelly on Thursday for saying income inequality might be a potent issue for Democrats in 2016, and predicted that Elizabeth Warren wouldn’t run for President because “all she wants to do is sell her dopey book.”

“You’re buying into this fraud, Kelly, and I’m very disappointed, so listen to the master,” O’Reilly told Kelly. “You worked your way up. Was there any war on you? Did anybody declare war on you?”

“I just destroyed this inequality myth,” O’Reilly concluded.

We didn’t really need more proof that Faux News inhabits an alternate universe, but here it is anyway.

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