Biden and Yellen need to raise revenue, but other countries with lower corporate taxes could lure multinational companies away. She’s holding talks. Makes sense as a lot of issues with things like wages being too low, for example, would be addressed if corporations had to pay taxes on profits each year, … Continue reading Janet Yellen working on overhauling global minimum corporate tax rate
The US has far less mobility and equality of opportunity today than almost the entire European Union The American Dream is now the European Dream. Source: The ‘American Dream’ of upward mobility is broken. Look at the numbers | US news | The Guardian Continue reading The ‘American Dream’ of upward mobility is broken. Look at the numbers | The Guardian
The new year brings another round of increases, nearly a decade after workers started campaigning for higher pay. By the time $15/hr become standard, it may be time to raise it to $20/hr! $20/hr is what it should be had wages increased with productivity gains over the last 50 years. Source: 27 Places … Continue reading 27 Places Raising the Minimum Wage to $15 an Hour – The New York Times
The economist’s doctrine has warped our understanding about the people an economy is supposed to serve. it’s the reason why the stock market is through the roof yet we are all struggling right now! Source: Milton Friedman Was Wrong. Look at Income Inequality. Continue reading Milton Friedman Was Wrong. Look at Income Inequality.
A new report shows that a $50 trillion redistribution of income to benefit the richest has made America less healthy, resilient, and secure Every year, $2.5 trillion—that’s trillion, with a “t”—is redistributed from the bottom 90 percent of Americans to the wealthiest 1 percent. That $50 trillion used to go to working … Continue reading America’s 1% Has Taken $50 Trillion From the Bottom 90% | Time
Survey authors: “We now observe an Alice in Wonderland moment of elite buoyancy and mass despair.” Because it’s true. Source: People no longer believe working hard will lead to a better life, survey shows – Hack – triple j Continue reading People no longer believe working hard will lead to a better life, survey shows
On paper, it looks like Scott Larsen is doing better than his father was at the same age. But he’s not even close. The chances of him buying a home are very slim. The system currently extracts all the borrowing potential from the millennials through student loans that could have gone towards … Continue reading Many millennials are worse off than their parents — a first in American history
The statistics keep on rising, but they don’t track the well-being of most Americans. The unemployment figures don’t give an accurate picture either. People are not better off. Source: Opinion | Why You Shouldn’t Believe Those G.D.P. Numbers – The New York Times Continue reading Opinion | Why You Shouldn’t Believe Those G.D.P. Numbers – The New York Times
According to new research, the average American’s life expectancy has once again gone down, despite the nation’s billion-dollar health care system. And the cause appears to be the worsening inequality. Source: US life expectancy has declined for the third year in a row – Business Insider Continue reading US life expectancy has declined for the third year in a row – Business Insider
“The bottom half of Americans combined have a negative net worth,” Bloomberg’s Ben Steverman wrote based on research of economists Emmanuel Saez and Gabriel Zucman. That’s NEGATIVE net worth for the bottom … Continue reading One brutal sentence captures what a disaster money in America is
A new study finds that partisanship matters more than the influence of the wealthy The rich get what they want from their senators about 60% of the time, research shows. Source: Is … Continue reading Is Congress rigged in favour of the rich?
The long read: The economic arguments adopted by Britain and the US in the 1980s led to vastly increased inequality – and gave the false impression that this outcome was not only … Continue reading ‘Socialism for the rich’: the evils of bad economics