There’s income inequality, and then there’s the United States. New research shows that within the developed world, no nation has seen the income share of the top 1 percent grow faster over the past three decades than the United States.
There’s income inequality and then there’s total net worth inequality. Both are large, and growing, but a New York Times analysis of Federal Reserve data shows the gaping gulf in net worth between the 1 percent and the rest of us.
Billionaire Warren Buffett is a thorn in the side of Republicans. This pillar of the capitalist community and CEO of the corporate conglomerate Berkshire Hathway, continues to press Congress to raise taxes wealthy people like him. When congressional Republicans answered him by proposing a voluntary check-off box on tax-filing forms for people who want to pay more taxes, Buffet threw down a gauntlet. He’d happily match the voluntary tax contributions made by GOP lawmakers, he said—and he’d even triple-match those made by Senate Majority Leader Mitch McConnell.
The growing gap between the rich and the rest of us is not just a problem in the United States. Over the past two decades income inequality has soared around the world. But a new report from the Organization for Economic Cooperation and Development ( OCED ) says if nations make the right policy decisions, income inequality is not inevitable and can be reversed.
| Economy
The following is by John August, executive director of the Coalition of Kaiser Permanente Unions. Read the full version of his column at L&M Partnership .
Many of us are pleased that the Occupy movement resonates with so many. While not everyone is prepared to join one of the hundreds of encampments that have grown around the country over the past two months, it is not uncommon for mainstream media to recognize that they are articulating widespread public discontent. From MSNBC to the New York Times to many local and online outlets, the media recognize that dominant themes of Occupy—income inequality and the need for good jobs—have become very popular themes.
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