The rich just keep getting richer...

It's no longer just an expression – the rich are getting richer, and the rest of us are being shut out of the game. According to a new report from economists Emmanuel Saez and Thomas Piketty, the top ten percent of income earners in our nation took home more than half of all of the income in 2012. That is the highest percentage ever recorded in the 96-year history of data collection. As if that statistic wasn't bad enough, more than 20 percent of all income in 2012 went directly to the top one percent. And, 95 percent of all income gains have gone straight to those at the top since the recession ended.

According to the New York Times, “The figures underscore that even after the recession, the country remains in a new Gilded Age.” Three decades of Reaganomics widened the divide between rich and poor, and since the economic meltdown of 2008, the rich have sucked up billions in soaring corporate profits, rising stock prices, and increasing home values. All the while, the majority of Americans continue to be bogged down with stagnant wages and high unemployment. And, our nation's regulation and tax policy isn't helping.

The economists point out that the meager tax increases on wealthy Americans, which went into effect in January, “are not likely to have a major effect.” The concentration of income at the top won't change, “unless drastic regulation and tax policy changes are implemented and [we] prevent income concentration from bouncing back.” As the Think Progress Blog notes, our nation suffers from more drastic income inequality than Egypt, Yemen, Tunisia, Pakistan, the Ivory Coast, and Ethiopia. Many Americans are well aware – we must pursue real economic change, and start closing this gaping wealth divide.

Comments

Vegasman56 9 years 12 weeks ago
#1

I have somebody that would probably be interesting for an interview, or you might want to use it on you’re The good, The bad, and the extremely bad. Or maybe conversations with great minds. His name is Dr. Geoff Williams. Five years ago, Geoff Williams ditched his lucrative career as a plastic surgeon and began spending his time and money on strangers half a world away. Although I do not know Dr. Williams personally but we both knew Dr. Mike Jensen, Dr. Jensen introduced me to Dr. Williams. I knew Dr. Jensen pretty good. They could have been carbon copies. Here’s two articles that you could read, one of them is the Idaho press, the other one is Journal Gazette. They are good articles that shows there are some doctors who care about people instead of profit. If you decide to use this story I would appreciate it if you let me know, with your writing ability you will give this justice, and probably will help Dr. Williams to. In my opinion not only your audience but America should know about this to.

DAnneMarc's picture
DAnneMarc 9 years 12 weeks ago
#2

Economic equality is a noble ends to strive to reach. We should spend more time focussing on the means by which to achieve it.

Bank re regulation, repeal of free trade, and single-payer health care for all come to mind.

To achieve those goals, campaign finance reform and move to amend come to mind.

In this case, the question is far more complicated than the answer.

Palindromedary's picture
Palindromedary 9 years 12 weeks ago
#3

KPFA-Guns and Butter has 5 weeks of 1hour audio shows featuring Kevin Ryan talking about 9/11.

He wrote a new book called "Another 19: Investigating Legitimate 9/11 Suspects" that's available on Amazon.com.

It has 28 out of 37 5-star rating.

http://www.kpfa.org/archive/show/34

Flopot's picture
Flopot 9 years 12 weeks ago
#4

@DAnneMarc

A laudable list.

Others also suggest ending the Federal Reserve System (i.e. the private bankster cartel printing press) and letting the government print its own money. Ron Paul is a fan of competing currencies, of course, but get back to the Constitution first. End the Fed.

Palindromedary's picture
Palindromedary 9 years 12 weeks ago
#5

Traditional telephone service has always included providing a power source that allowed the telephone to work even if the residence lost power. This was important especially when one needed to contact emergency services like 911 or even to contact the local government services like local police on a non emergency basis like 311.

AT&T Uverse installations cannot provide power if they install Fiber to the Premises (FTTP) (ie: to your home) because fiber optics only conveys light signals and not electrical power along with electrical signals. About 95% of all AT&T Uverse installations do not actually install fiber to the Premises.

The real benefits of fiber optics, very high speed and none of the typical traditional problems of copper wire lines...like noise and delays, cannot be realized unless you get rid of the copper all the way to the premises. I suppose it might have been possible for AT&T Uverse to supply electrical power on those installations that still have copper but for some reason it doesn't look like they have opted to do that*. With AT&T Uverse installations, copper or fiber, you have to have a back up battery at your premises to power either the units they attach to your premises..either an ONT (Optical Network Terminal) or an iNids (intelligent network interface device). Currently, with traditional phone installations they use a NID (Network Interface Device). Both the NID and the iNID are used when copper wires are used. The ONT is used when fiber optics run to your premises.

You really should read the AT&T Uverse TOS (terms of service)...very scary!! I am no lawyer but I must say that it looks to me like this TOS is pretty much saying that if you sign this agreement you accept all of the problems and liabilities that might arise. One thing they do make sure of is that you are definitely locked in for the term of the agreement to any payments or fees you have agreed to...plus, perhaps, any that you were not aware of. Lots of people have complained that AT&T Uverse charged them fees that they didn't agree to and had to fight AT&T Uverse over them.
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IV. Interruptions, Limitations, And Modifications To Service

AT&T U-verse Voice service cannot be used to make or receive operator-assisted collect or third-party billing calls, nor can AT&T U-verse Voice service be used to make 900/976 calls; area code 500, 700, and 710 calls; 10-10-XXX dial-around calls; or international operator or directory assistance calls. Also, the ability to call certain N11 services (211, 311, 511) may not be available.

http://www.att.com/u-verse/att-terms-of-service.jsp
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N11 services:

2-1-1: community services, United Way
3-1-1: municipal government services, non-emergency
4-1-1: directory assistance
5-1-1: traffic information or police non-emergency services
6-1-1: telephone company (telco) customer service and repair
7-1-1: TDD relay for the deaf
8-1-1: underground public utility location,[1] in Canada 8-1-1 is assigned for non-emergency health information and services
9-1-1 emergency medical, police, or fire

Wikipedia
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Be sure to read:

V. AT&T U-verse Voice 911 Limitations
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And, in addition, you're home burglar alarms may not work either.

Read:

VI. Home Alarm and Other Device Compatibility
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Palindromedary's picture
Palindromedary 9 years 11 weeks ago
#7

Holy cow! Thanks for that link, RaleighMom! I suspected something like this was going on but never understood much of it. Ellen Schultz is really on top of it. Now, looking back I can see it all click into place. What an explosive revelation! And speaking of explosives... I wonder how any of this can help explain what happened on 9/11. I knew that there were massive corporate criminal investigations being undertaken in both the WTC towers and Building 7 and also on that side of the Pentagon that got hit. Some people may not see a connection but I sure do.

Ellen Schultz: (roughly): Since the 90s, billions of dollars were being converted into profit by converting employee's pension plans into increased compensation to the executives. They used deceitful accounting practices and did things like freeze pension accounts, sometimes for years. They also used a scam of various mergers and buyouts that every time that happened the employees pension plans got smaller...and the executives bank accounts got a lot bigger...and they used deferred accounts to avoid paying taxes.

She said that back in 1974 the law was structured to protect employees from their pension plans being used by the company. And by the early 80s, the pension plans were huge...everything very good for the employees. But then old Ronnie Reagan(666) changed everything. The laws changed and Pension Raiders took over companies and screwed people out of their pensions. Other schemes cooked up by the top execs were to tell employees that they were replacing their old pension plans with new and improved pension plans...yeah, right! After 9/11 many companies that were going downhill took out massive amounts from the pension plans as they headed for disaster. Watch that video...very scary!

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