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Archive for the ‘upward income redistribution’ Category

85 people versus 3.5 billion people – the OXFAM report

January 21, 2014 9 comments

from Edward Fullbrook

In the run-up to the annual Davos get-together of the world’s hyper-rich and their most-favoured agents, OXFAM has issued a report titled “Working For The Few”.  Commenting on it, today’s Guardian notes that

. . . if they fancied a change of scene then the richest 85 people on the globe – who between them control as much wealth as the poorest half of the global population put together – could squeeze onto a single double-decker.

The OXFAM report emphasizes how democracies round the world are increasingly under threat due their subversion by the ultra-rich. Here is a key passage from the report.  Read more…

Two charts from the Wall Street Journal

October 13, 2013 1 comment

from David Ruccio

NA-BY430_Povert_G_20131010171504

As the Wall Street Journal explains, Read more…

US wages and productivity 1968 – 2012 (minimum, average and The 1%)

February 21, 2013 6 comments

from David Ruccio

fig3_scenarios

Read more…

US minimum wage: Who decided workers should fall behind?

February 20, 2013 10 comments

from Dean Baker

It was encouraging to see President Obama propose an increase in the minimum wage in his State of the Union Address, even if the $9.00 target did not seem especially ambitious. If the $9.00 minimum wage were in effect this year, the inflation-adjusted value of the minimum wage would still be more than 2.0 percent lower than it had been in the late 1960s. And this proposed target would not even be reached until 2015, when inflation is predicted to lower the value by another 6 percent.

While giving a raise worth more than $3,000 a year to the country’s lowest paid workers is definitely a good thing, it is hard to get too excited about a situation in which these workers will still be earning less than their counterparts did almost 50 years ago. Read more…

Income redistribution in the United States 1913-2011 (2 graphs)

February 18, 2013 7 comments

from David Ruccio

top decile

Read more…

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