Tag: Inequality
It's inequality that matters
If you like to think of America as The Greatest Country on Earth, and you’d rather not examine its claim to that title too closely, “The Spirit Level” will not be your favorite new book.
US unemployment rate for blacks projected to hit 25-year high
Unemployment for African Americans is projected to reach a 25-year high this year, according to a study released Thursday by an economic think tank, with the national rate soaring to 17.2 percent and the rates in five states exceeding 20 percent.
Middle class and poor hit hard by recession, widening US income gap
The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.
Income inequality hits an all-time high
Income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression, according to a recently updated paper by University of California, Berkeley Professor Emmanuel Saez.
Record 1 in 10 Americans now on Food Stamps
A record 32.2 million people -- one in every 10 Americans -- received food stamps at the latest count, the government said on Thursday, a reflection of the recession now in its 16th month.
Head Roc - Change in America
Check out this great new track from Washington DC rapper Head Roc and Godisheus.
Tax rates drop for 400 richest Americans
The nation's top 400 taxpayers made more than $263 million on average in 2006, as the stock market was rallying, but paid income taxes at the lowest rate in the 15 years that the Internal Revenue Service has tracked such data, according to figures released Thursday.
Congress gives itself another raise, despite economic crash
Members of Congress have at least one reason to ring in the new year: They've given themselves a $4,700-a-year pay raise starting Thursday.
Poorer nations accuse rich of meanness in U.N. climate fight
Developing nations accused the rich of meanness on Saturday at the end of U.N. climate talks that launched only a tiny fund to help poor countries cope with droughts, floods and rising seas.
Hunger grows among US schoolchildren
Mariana Chilton, a children's-nutrition researcher at Drexel University in Philadelphia, said the number of children under 6 who sometimes are forced to go hungry has doubled in recent years to 8 percent of all youngsters.
Higher education may soon be unaffordable for most Americans
The rising cost of college — even before the recession — threatens to put higher education out of reach for most Americans, according to the annual report from the National Center for Public Policy and Higher Education.
Number of Americans on food stamps nears record
Fueled by rising unemployment and food prices, the number of Americans on food stamps is poised to exceed 30 million for the first time this month, surpassing the historic high set in 2005 after Hurricane Katrina.
Starving for change
Banks, automotive companies and investment firms, all sinking under the weight of their own incompetence and greed, head to Washington, usually in private jets, to engage in the largest looting of the treasury in American history....As this pitiful march of folly rolls forward, children in Trenton and across America go to bed hungry.
The 10 worst corporations of 2008
What is most revealing about the financial meltdown and economic crisis, however, is that it illustrates that corporations — if left to their own worst instincts — will destroy themselves and the system that nurtures them. It is rare that this lesson is so graphically illustrated. It is one the world must quickly learn, if we are to avoid the most serious existential threat we have yet faced: climate change.
Environmental failure: a case for a new Green politics
The U.S. environmental movement is failing – by any measure, the state of the earth has never been more dire. What’s needed, a leading environmentalist writes, is a new, inclusive green politics that challenges basic assumptions about consumerism and unlimited growth.
More families become homeless
More families with children are becoming homeless as they face mounting economic pressures, including mortgage foreclosures, according to a USA TODAY survey of a dozen of the largest cities in the nation.
Bring back New Deal economics and revive the American dream
The current financial crisis presents an opportunity to scrap the failed policies of neoliberal economics and make America's economic policy both stronger and fairer. By rejecting band-aid solutions, taking decisive action to stop the bleeding, holding the culprits accountable, and reforming our financial system to address the root causes of the crisis, we would do future generations a great service.
Wall St. crisis exposes dangers of neoliberal free-market ideology
The Wall Street crisis of 2008 was the inevitable culmination of decades of neoliberal economic policy, which views free markets and deregulation as the solution to every problem. Investigative journalist Naomi Klein explains how this dangerous ideology took hold throughout US academia and government, and why the Wall Street crisis should be for neoliberalism what the fall of the Berlin Wall was for Soviet Communism.
A Better Bailout
Proposals from Washington to fix the financial crisis fall far short of addressing the fundamental problems that led to the crisis. Nobel Prize-winning economist and author of "Globalization and Its Discontents" Joseph Stiglitz outlines an alternative bailout that would benefit the American people instead of the big corporations that made this mess.
Put a cap on CEO Pay
What Drucker thought was more appropriate was a ratio around 25-to-1 (as he suggested in a 1977 article) or 20-to-1 (as he expressed in a 1984 essay and several times thereafter). Widen the pay gap much beyond that, Drucker asserted, and it makes it difficult to foster the kind of teamwork that most businesses require to succeed.
Obama, McCain are weak on cutting outrageous CEO salaries
During the political party convention season that begins this week, you won't hear much disagreement on one issue: executive pay.
Obama, McCain won't tackle America's income gap
Holding one's breath while waiting for presidential candidates to address the gap between rich and poor is a sure way to asphyxiate.
Most companies in US don't pay federal income taxes
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
Richest Americans see their income share grow
In a new sign of increasing inequality in the U.S., the richest 1% of Americans in 2006 garnered the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929, according to Internal Revenue Service data.
Food crisis hits African women hard
In poor nations, such as Burkina Faso in the heart of West Africa, mealtime conspires against women. They grow the food, fetch the water, shop at the market and cook the meals. But when it comes time to eat, men and children eat first, and women eat last and least.
The less the education, the higher the risk of dying early
The difference in death rates between highly educated and poorly educated people in the United States is very wide and growing wider, according to new research.
Wall Street winners get billion-dollar paydays
Hedge fund managers, those masters of a secretive, sometimes volatile financial universe, are making money on a scale that once seemed unimaginable, even in Wall Street’s rarefied realms.
High rice cost creating fears of Asia unrest
Rising prices and a growing fear of scarcity have prompted some of the world’s largest rice producers to announce drastic limits on the amount of rice they export.
Make rich colleges pay
For the first time in a generation, we have good news about the affordability of college education.
Rising health costs cut into wages
"The way health-care costs have soared is unbelievable," said Katherine Taylor, a vice president for Local 1199 of the Service Employees International Union. "There are people out here making decisions about whether to keep their lights on or buy a prescription."
Inflation hits the poor hardest
Inflation is walloping Americans with low and moderate incomes as the prices of staples have soared far faster than those of luxuries.
Food crisis
Foodstuffs have gone up 41 percent in price since October 2007, pushing many people over the line from poverty into privation or even hunger.
'Say on pay' gets a push, but will boards listen?
In Australia, Sweden, Britain and the Netherlands, shareholders vote each year on whether a company's executive compensation is acceptable.
Poverty is poison
“Poverty in early childhood poisons the brain.” That was the opening of an article in Saturday’s Financial Times, summarizing research presented last week at the American Association for the Advancement of Science.
More households falling behind in heating bills
As families struggle with a combination of high heating costs and a shaky economy, utilities say more customer accounts are falling delinquent.
The boom was a bust for ordinary people
But hellooo, we've had brisk growth for the past few years, as the president has tirelessly reminded us, only without those promised increases in personal income, at least not for the poor and the middle class.
Johnston’s book on corporate welfare strikes out at the Times
David Cay Johnston is a Pulitizer-prize winning business reporter at the New York Times.
New Orleans working class hit by cost squeeze
Anisha Washington draws her neatly starched uniform from a dingy bureau in the crowded shotgun house she shares in a hurricane-crippled neighborhood.
Democrats caved on stimulus
And the worst of it is that the Democrats, who should have been in a strong position -- does this administration have any credibility left on economic policy? -- appear to have caved in almost completely.
Cities crack down on panhandling
Panhandling on public transportation can get you a year in jail in Medford, Ore. Telling a lie while asking for money in Macon, Ga., is against the law. In Minneapolis, begging in groups has been banned.
One man takes aim at prejudice with storybook
It has been called essential reading for every Indian child, a lively illustrated storybook aimed at raising youthful awareness of the injustices of the country's caste system, much as "Uncle Tom's Cabin" exposed the indignities of slavery to white America.
Homeless vets reveal a hidden cost of war
I was walking out of a grocery store recently when a homeless man approached me and said, "Excuse me sir, I'm trying to buy some food. Can you help me out?"
Affirmative action for aristocrats
Legacy preferences in college admissions — the nepotistic advantages given to the children of alumni — are indefensible, of course.
Europe takes Africa’s fish, and migrants follow
A vast flotilla of industrial trawlers from the European Union, China, Russia and elsewhere, together with an abundance of local boats, have so thoroughly scoured northwest Africa’s ocean floor that major fish populations are collapsing.
For CEOs, failure can be lucrative
After driving his company to the brink of bankruptcy (or so the rumor mill had it last week), Mozilo now stands to make as much as $115 million in severance-related compensation if an acquisition of Countrywide by Bank of America goes through, which it almost certainly will.
A better world, one click at a time
Anyone with $25 to spare and an Internet connection can now become an international microfinancier through Kiva, an organization that matches individual lenders with impoverished entrepreneurs in the developing world.
Voter ID laws face Supreme Court test
In April 2006, a federal judge upheld Indiana’s law on voter identification, the strictest in the nation, saying there was no evidence that it would prevent any voter from having his ballot counted.
No insurance, poor health
The case for providing health coverage for all Americans got even more compelling in the past week when two new studies presented the most comprehensive evidence yet that lack of health insurance is seriously harmful to a patient’s health.
Minorities less likely to get pain relief
Black and Hispanic patients in pain are less likely than whites to get powerful painkillers from U.S. hospital emergency departments, but the reasons may go beyond sheer racial bias, researchers said on Tuesday.
Victories in 2007
It's easy enough to recount what went wrong in 2007. But it wasn't all bad. Not only did grassroots movements and citizen campaigns -- and sometimes governments responsive to public demands -- defeat and resist countless corporate power grabs, they won some vitally important, affirmative victories.
More children starving in Darfur
Child malnutrition rates have increased sharply in Darfur, even though it is home to the world’s largest aid operation, according to a new United Nations report.
Demolition of public housing in N.O. draws protest
Federal officials began demolishing a local housing project Thursday despite protesters who angrily decried the destruction, saying the hurricane-ravaged city needs to preserve its affordable housing.
Steep heating costs hit neediest
Soaring fuel prices are creating a crisis among low-income people and senior citizens who can't afford to heat their homes, say local agencies that distribute federal heating subsidies.
New hurdles to Social Security Disability bring agony to the afflicted
Steadily lengthening delays in the resolution of Social Security disability claims have left hundreds of thousands of people in a kind of purgatory, now waiting as long as three years for a decision.
Ending famine by ignoring the World Bank
This year, Malawi, a nation that has perennially extended a begging bowl to the world, is feeding its hungry neighbors.
In India, a terrible place to be born a girl
The birth of a boy in Machrihwa is celebrated with the purchase of sweetmeats, distributed with joy to fellow villagers. The birth of a girl is, for the most part, not celebrated at all.
Hunger looms as food banks face shortages
Food banks around the country are reporting critical shortages that have forced them to ration supplies, distribute staples usually reserved for disaster relief and in some instances close.
Racism, gov't apathy fuel U.S. AIDS epidemic
"Race is what's killing us. Race is at the heart of the lack of new therapies, at the heart of the lack of care regarding prevention policies, and at the heart of the poor public health infrastructure," Fraser-Howze said.
Some colleges cut, eliminate student debt
Colleges are moving to eliminate -- or at least ease -- student debt as pressure builds in Washington for them to spend more from their endowments to help families afford the rising cost of school.
Bush, Congress threaten to take food away from poor women, children
Half a million people could be cut from a nutrition program for low-income young children, pregnant women and recent mothers.
Warren Buffett to Congress: Keep Taxing the Mega-Rich
"Equality of opportunity has been on the decline. A progressive and meaningful estate tax is needed to curb the movement of a democracy toward plutocracy."
We are overpaid, say US executives
Most US corporate leaders believe chief executives are overpaid and do not provide value for money for their companies, according to a study that will embolden critics of excessive compensation.
Tutu: Poverty fueling terror
The global "war on terror" can't be won if people are living in "desperate" conditions, Archbishop Desmond Tutu told CNN.
"Status Syndrome": People in Rich Nations Live 30 Years Longer Than in Poor Nations
Life expectancy in the richest countries of the world now exceeds the poorest by more than 30 years, figures show.
CEO pay: 364 times more than workers
The average CEO of a large U.S. company made roughly $10.8 million last year, or 364 times that of U.S. full-time and part-time workers.
How the neoliberals stitched up the wealth of nations for themselves
Neoliberalism, if unchecked, will catalyse crisis after crisis, all of which can be solved only by greater intervention on the part of the state.
Schwarzenegger Axes Homeless Program But Keeps Yacht Subsidy
Making good on a promise to trim the state budget, Gov. Arnold Schwarzenegger eliminated a $55-million program Friday that advocates say has helped thousands of mentally ill homeless people break the costly cycle of hospitalization, jails and street life.
People in 41 nations are living longer than Americans
Americans are living longer than ever, but not as long as people in 41 other countries.






