income

United States is Now the Most Unequal of All Industrialized Nations

Jon Stewart spoke with Nobel Prize-winning economist Joseph Stiglitz about how the extreme concentration of wealth in the hands of a few plutocrats is destroying the very principles upon which our country was founded:
“It seems like people are not angry at wealth or success, they get frustrated by what appears to be an entirely different set of rules put in place by the wealthy, who then say: ‘Hey man, I’m just playing by the rules’, as though those rules were an arbitrary design of the free market.”

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Global Elites Hide Trillions in Secret Offshore Economy Each Year

A new report has been published which compiles detailed information about the enormous amount of money that is being hidden by billionaires in offshore accounts. The research, The Price of Offshore Revisited, shows that over 21 trillion dollars, more than the total combined GDPs of both the United States and Japan, are being sequestered out of sight into the legally murky offshore economy. The super elite are using every available resource to exploit loopholes in cross-border tax rules to avoid paying their fair share.

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Maddow & Krugman Explain Link between Wealth Disparity & Economic Disaster

Paul Krugman, the Nobel prize winning economist and author of the new book, End This Depression Now!, spoke with Rachel Maddow about the direct correlation between expanding income inequality and the increasingly divisive political polarization present in the United States. The wealth disparity between the rich and poor has been historically shown to greatly increase just prior to a severe economic crisis, as it did before the Great Depression; and the wealth gap in our country has never been as extreme as it is right now.

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Student Loan Forgiveness Act Introduced into Congress by Hansen Clarke

This week Michigan Representative Hansen Clarke introduced the Student Loan Forgiveness Act, HR4170, into Congress. Hansen’s proposed bill will allow for all student loans to be forgiven if the borrower can make payments equivalent to 10% of their discretionary income for 10 years. After that point in time, the entire remaining balance of their federal student loan debt would then be expunged.

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Are You Feeling Overworked and Underpaid?

Stop blaming yourself if you feel exhausted and overworked, because you are. If it seems like for years you have been laboring more hours and making less money, struggling more just to get by, it is indeed true. Even though U.S. citizens on average are now working more hours with much greater productivity, our wages remain stagnant. If we are lucky enough to even have a job in this dire economy, we are told to be grateful and industrious, and not to complain about the increasingly small pittance we are now earning.

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Top 5% in U.S. Own Nearly 2/3 of Everything

It is difficult to comprehend just how rich the plutocracy in the United States has now become. The distribution of wealth and resources in this nation is even more extreme and inequitable than what we are all earning for our wages (if you are fortunate enough to actually even have a job). According to new research released by the Economic Policy Institute,”The State of Working America’s Wealth”, the volatility and turmoil in our economy continues to increase, as the massive chasm between the grotesquely rich and everyone else grows even more immense.

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