New report shows that no matter which state you live in, the 1% are making even more gains as the rest fall back
Over the last three decades the wealth of the nation's very richest 1% has grown ten times that of the average worker and over that time period that same tiny elite has captured more than half of the entire income increases, leaving the bottom 99% to divide the remaining gains.
This is all based on a new state-level study, The Increasingly Unequal States of America: Income Inequality by State, which looks at how inequality has seized hold of the national economy both in the generation leading up to the great recession of 2008 and in the several years following where a so-called "recovery" was experienced by the financial elite while the majority of U.S. population continues to claw its way back.
“The levels of inequality we are seeing across the country provide more proof that the economy is not working for the vast majority of Americans and has not for decades,” said Mark Price, an economist at the Keystone Research Center, who co-authored the report on behalf of the Economic Analysis and Research Network (EARN). “It is unconscionable that most of America’s families have shared in so little of the country’s prosperity over the last several decades.”
Check out the interactive state-by-state map on inequality generated by the study's authors.
Numerous studies in recent years have exposed the persistent pattern of income and wealth inequality in the United States, but as Price's co-author Estelle Sommeiller explains, “our study shows that this one percent economy is not just a national story but is evident in every state, and every region.”
Though some states show higher levels of inequality, the pattern nationally is firm. What is also made clear by the study is the degree to which specific policies--including the writing of tax law, the climate set for labor conditions, and the setting of wages--have all contributed directly to this pattern where those at the very top benefit from a growing economy and those at the bottom receive increasingly less reward for their hard work.
“It’s clear that policies were set to favor the one percent and those policies can, and should, be changed,” Doug Hall, director of the EARN program said. “In order to have widespread income growth, bold policies need to be enacted to increase the minimum wage, create low levels of unemployment, and strengthen the rights of workers to organize.”
Among the report's key findings:
Link to original article from Common Dreams
I was anxious to attend the League of Women Voters Candidate Night because like so many other people in the new 11th District, I knew little about either of the major party candidates. I sat with more than 100 other voters and waited for Kerry Bentivolio to arrive.
With the open seat, Dr. Taj has a more than favorable chance to win. His opponent is Kerry Bentivolio, reindeer rancher, failed business owner and part-time actor who has never held elected office. He has strong ties to libertarian financiers and Tea Party activists but has been ostracized by the Republican Party establishment, having taken large donations from Liberty for All Super PAC, affiliated with Ron Paul.
He may be a Democrat in a largely Republican town, but don't tell that to Canton voters.
Dr. Syed Taj finished fourth out of six candidates in 2008 to win a seat on Canton's Board of Trustees -- the first Democrat elected to the board in recent memory and the only Democrat on the seven-member board.
We also talk economics and tax policy. We can’t just continue to cut our way to prosperity, Taj says. We continue to fire public employees, he says, and that not only impacts quality of life, but it negatively impacts consumer spending.
The sudden resignation of Rep. Thad McCotter led to a tumultuous Republican primary in Michigan's 11th District, but the fallout may also mean a competitive general election for a seat thought until recently to be safely in the GOP column. At least, that's what Syed Taj is counting on.
MI-11 Dr. Syed Tajhttp://www.tajforcongress.com