January 4, 2012 |
Via Kevin Drum , here's a new run at the income inequality fence from the bipartisan Congressional Research Service, and it should bury two shibboleths commonly employed by inequality-deniers: One, that inequality hasn't really increased in recent years, and two, that thanks to broadly held pension fund and mutual fund assets, rising share prices benefit all wage-earners. The report by the CRS, an arm of the Library of Congress, shows that inequality has increased quite smartly, thank you. From 1996 to 2006, total after-tax income in the U.S. rose by more than 20%. How was this gain distributed?
March 10, 2013 |
In announcing his wrongheaded proposal to increase the minimum wage to $9 an hour, President Obama spoke in lofty terms: "In the wealthiest nation on Earth," he said in his State of the Union address last month, "no one who works full time should have to live in poverty. " If the debate proceeds as it has -- many times -- in the past, then most Democrats will embrace the president's message and back the proposal, while most Republicans will oppose it, on the grounds that higher labor costs will lead to higher unemployment.
January 21, 2014 |
Whether it's because President Obama recently highlighted the issue or because most Americans are really feeling the pain, the debate over income inequality is now part of the mainstream kitchen-table debate. That's the conclusion to be drawn from a Gallup poll released Monday, on Martin Luther King Day. The survey finds that two-thirds of adults are somewhat or very dissatisfied with income and wealth distribution in the U.S. The poll was taken on Jan. 5-8, or about a month after the president's speech about economic inequality . The partisan breakdown is about what you'd expect.
January 19, 2012 |
Republican presidential candidate Newt Gingrich and his wife, Callista, paid $994,708 in federal taxes on gross income of $3,142,066 in 2010, according to copies of the couple's joint tax return that his campaign released at the start of Thursday night's GOP debate. The 31.5% tax rate paid by the Gingriches is roughly double the amount that rival Mitt Romney said this week he pays on his own, much larger income. Romney said in Thursday night's debate that he would make his 2011 returns public, and perhaps some from earlier years, when the latest return is completed later this year.
CALIFORNIA | LOCAL
March 27, 2013 |
An online voter registration system launched by California for last November's election appears to be bringing more lower-income people into the political process, according to an academic study. Researchers at UC Berkeley looked at the 839,297 people who registered to vote online before the election, and found that the breakdown was ethnically similar to those who registered in person or through the mail. However, the results showed more online registrants came from low- and middle-income neighborhoods than expected, according to researchers Lisa Garcia Bedolla and Veronica N. Velez.
June 27, 2013 |
WASHINGTON -- The government reported more positive signs for the economic recovery Thursday as initial jobless claims dropped last week and consumers' personal income and spending rose in May. The number of people filing for unemployment benefits for the first time fell to 346,000 in the week ending Saturday, down from a revised 355,000 the previous week, the Labor Department said. The drop was in line with analyst projections and brings the figure below the 350,000 level that economists say is consistent with moderate labor market growth.