April 24, 2014 |
The wealthy are getting even wealthier - in part because they're so wealthy to start with. That's the upshot of new research, which shows that the richest 1% of Americans derive huge profits from capital gains, stock dividends and other types of business- or investment-related gains. In other words, rich people are making a lot of money on their money. Anyone, of course, can benefit from stock-related gains. But the rich have benefited a lot more, in part because they have higher incomes that enable them to invest more.
June 11, 2000 |
A 1999 Times poll found that nearly 60% of Californians who described themselves as working or lower class expected they would be able to move up the economic ladder. Many at the bottom have, in fact, been making progress during this long expansion. This may be one reason why inequality, a hot topic for politicians and journalists in the 1980s and early 1990s, is getting less play these days. When people at the bottom and top are gaining ground, inequality is less potent.
April 26, 2014 |
Some California lawmakers worry that California is losing too many businesses to other states. State Sens. Mark DeSaulnier (D-Concord) and Loni Hancock (D-Berkeley) evidently worry that we're not losing enough. DeSaulnier and Hancock are the authors of SB 1372 , a measure that purportedly addresses one of the most talked-about (and, Democrats hope, politically fertile) problems with the U.S. economy: income inequality. Specifically, they take aim at the compensation packages that publicly traded corporations give their chief executive officers.
July 19, 1999 |
The "digital divide" has been back in the news recently--but, as usual, only briefly. On July 8, the Department of Commerce's National Telecommunications and Information Administration released its latest report in a series called "Falling Through the Net." This is an ongoing study of telephone, computer and Internet use in the U.S. that can be viewed at http://www.ntia.doc.gov/ntiahome/digitaldivide. In it, the government reported (using 1998 data) that 40% of U.S.
January 29, 2014 |
WASHINGTON - President Obama's sixth speech on the state of the union spotlighted many issues, but more than anything it illuminated the vast gap between his policy ambitions and the tools he has to achieve them. The president made the ambition clear last month, when he referred to a "dangerous and growing inequality and lack of upward mobility" in the U.S. as the "the defining challenge of our time," a theme he repeated Tuesday night. "After four years of economic growth, corporate profits and stock prices have rarely been higher, and those at the top have never done better," he said, "but average wages have barely budged.
October 16, 2012 |
The questions asked at Tuesday night's presidential debate will be left to a coterie of undecided voters assembled by Gallup pollsters, so don't be surprised if they invite President Obama and his Republican opponent, former Massachusetts Gov. Mitt Romney, to pander to address concerns unique to their lines of work, their favorite causes or the problems they face as individuals. For example, that might include questions about whether the government is doing enough about cancer or Alzheimer's disease, or why Washington bailed out the big banks but not a local business whose line of credit dried up. Personally, I like those questions.
November 11, 2012 |
Click here to download TV listings for the week Nov. 4 - 10 in PDF format This week's TV Movies SERIES Richard Hammond's Crash Course: Richard trains to be one of the crew tasked with changing a wheel in an IndyCar race in Sonoma in an episode that features a drive around the racetrack with legendary driver Mario Andretti (7 and 11 p.m. BBC America). How I Met Your Mother: Barney (Neil Patrick Harris) decides to take action when Robin (Cobie Smulders)
September 20, 2013 |
Since the economic disaster of 2008 sent incomes spinning downward and the jobless rate shooting upward, at least one group of Americans has found a path back to prosperity: the top 1%. Over the last four years, the super-rich have been able to rake in 95% of all income gains. That's right, according to a new study by Emmanuel Saez, an economics professor at UC Berkeley, while the number of poor Americans has risen and members of the middle class...
April 14, 1991 |
One of the classic trade-offs in economics is between equity and efficiency. Under many circumstances, arrangements or policies that enhance one of these goals do so by sacrificing some of the other. Since the early 1970s, the U.S. economy has managed to do poorly on both counts.
September 1, 2008 |
Not all that long ago, America's prominent business and government leaders widely believed that our nation's prosperity depended on a strong middle class growing from the bottom up. Workers were rewarded for their hard work with fair wages, benefits and advancement opportunities -- and our economy and our national security were much stronger for it. Henry Ford certainly knew this, and often said that his company would prosper only if his workers...