Links 12/13/16

Wealth Redistribution to the Rich:

  • Wells Fargo Becomes First Bank to Fail Sanctions for Failing Too-Big-To-Fail Test Who needs a living will when you have the taxpayers’ money to fall back on?
  • Taking from the Middle Class, Giving to the Rich: It’s the Malloy Way I live in CT, which is one of the worst states in the country in terms of income inequality. I’ve noticed that this behavior is common.
  • Watch Bernie Sanders Convince a Trump Voter She Voted for the Wrong Person- in Less than Two Minutes

    What all of us should know is that over the last 25 years, there has been a massive transfer of wealth in this country from you to the top one-tenth of one percent. In other words, the middle class has shrunk and trillions of dollars have gone to the top one-tenth of one percent. Do you think it’s inappropriate to start asking those people to pay their fair share of taxes so we can adequately fund Medicaid and make public colleges and universities tuition-free. Is that an unfair thing to ask?”

    After a pause, Sparks replied, “I don’t think it’s an unfair thing to ask. They got rich off of us, so it’s time they put back.”

    Once wealth redistribution for the poor is put into this context, people understand its justification.

    Wages:

  • Renters Facing Affordability Crisis As Wages Stagnate Yes, I used to work in leasing. There’s no justification for the rent increases. Wages aren’t increasing. The buildings aren’t getting better. Builders use cheaper and cheaper materials for new products and owners charge higher prices. The leasing offices love to introduce new fees for services that used to be free.
  • Trump Turns the Focus to Workers and Wages He has the opportunity to completely change the trajectory of the Republican party.

    Gender Pay Gap:

  • The Gender Pay Gap is Hurting Women’s Health This study is about Australia, but I think this phenomenon is real in the United States also.
  • Unjustified CEO Compensation:

  • CEO Pay: Can a Tax Address Income Inequality?
  • Chipotle Drops Dual-CEO Model Over $26 million per year for two CEO’s. What a waste.
  • Healthcare:

  • Why is Healthcare So Expensive?
  • Record-High Health Care Spending Hits $3.2 Trillion in 2015
  • United States Comes in Last Again in Health, Compared to Other Countries
  • Quality of Life:

  • Stress in America: ‘Everybody Outside of the Top is Suffering’
  • Origins of Happiness: Evidence and Policy Implications Contentment is a good end goal.

    Poverty:

  • Nearly 1 Million N.J. Residents Now Live in Poverty, as Rate Soars in Atlantic City
  • America’s Dirty Little Secret: 42 Million People are Suffering From Hunger
  • Poverty May Have a Greater Effect on Suicide Rates than do Unemployment or Foreclosures
  • Income Inequality:

  • Income Inequality Keeps Growing and Its Worse than We Thought
  • Weigel: Income Inequality Nightmare
  • How Should We Compensate the Losers from Globalization?
  • Capitalism is Working Better in France than in the U.S.
  • It’s policies like a higher minimum wage, higher unionization and more equal education that have let the bottom 50 percent do better in France than in the United States. Although that’s not to say that things have been great in France. Their bottom 50 percent have only had their incomes grow 0.9 percent a year. It’s just that anything is better than nothing, and nothing is what the U.S. working class has gotten for a long time now.

    The more money the rich make, the more money they have to lobby for the policies they want, which will then help them make even more money. Indeed, political scientists Martin Gilens of Princeton and Benjamin Page of Northwestern found that it almost doesn’t matter what average voters want when it comes to what bills Congress passes. All that matters is what elites and interest groups want. In other words, American democracy works for the top 1 percent because American capitalism does, and American capitalism works for the top 1 percent because American democracy does.

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