With plagues, political dysfunction and near-Dickensian economic differences rampant, a Mother Jones editor charts the lives of the super rich, showing the fascinating, otherworldly realm they inhabit—and the insidious ways this realm harms us all.
The upward redistribution of income has cost Americans workers $50 trillion over the past several decades. On average, extreme inequality is costing the median income full-time worker about $42,000 a year.
Apart from filling corporate coffers and the pocketbooks of the 1 percent, the $1.9 trillion cut has put the federal government in a financial straightjacket.
To most Americans, the best marker of a healthy economy will always be a decent-paying, full-time job. An economy only deserves celebrating when people with full-time jobs have rising paychecks. In America today, they don’t.
Moving to a Graduated State Income Tax in Illinois. The state tax system would become fairer, more sustainable, and better for the Illinois economy. All that’s needed is the bipartisan political will.
Celine McNicholas, Zane Mokhiber, and Adam Chaikof
Economic Policy Institute
Given that wage theft disproportionately affects workers from low-income households—who are already struggling to make ends meet—the loss of wages can be devastating. And these recovery numbers likely dramatically underrepresent the pervasiveness of wage theft—it has been estimated that low-wage workers lose more than $50 billion annually to wage theft.
Patrick Bayer and Kerwin Kofi Charles
Science Blog
More and more working-age men in the United States aren’t working at all. The number of nonworking white men grew from about 8 percent in 1960 to 17 percent in 2014. The numbers look still worse among black men: In 1960, 19 percent of black men were not working; in 2014, that number had grown to 35 percent of black men. That includes men who are incarcerated as well those who can’t find jobs.
The disparities in wealth that we term “income inequality” are no accident, and they can’t be fixed by fiddling at the edges of our current economic system. These disparities happened by design.
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