The Chronicle of Philanthropy has put another nail in the coffin of trickle down economics. Using IRS data from 2006 to 2012, they found that as the US economy has come out of recession, while most of the new income has gone to the richest Americans, those people who earn $200,000 or more have actually […]
Like Nick Hanauer, I am an unrepentant capitalist. But capitalism only works if, as he says, it is well managed. And right now, we are doing a worse than terrible job of managing our capitalists and plutocrats. Income inequality is rising at insane rates. The end result, history has shown us again and again, is […]
© Ted Rall Despite the economic recovery, 35% of Americans have debts and unpaid bills that have been reported to collections agencies. That’s because most of the recovery has been funneled to the richest. But at least there is one business that is booming.
America just passed another milestone. Or maybe it would be more accurate to say that a milestone passed us. For many years, the US has been known for having the more affluent middle class in the world. Indeed, we’ve used this fact to make fun of other countries, mocking them for their high taxes, or […]
Nicholas Kristof has a must-read editorial in the NY Times. Kristof looks at the conservative mantra that government assistance reduces initiative, causes dependence, and increases the deficit — and agrees! He helpfully suggests five public welfare programs are wasteful and have turned us into a nation of “takers”. They should be eliminated as quickly as […]
The whole theory of “trickle-down economics” was roughly based on the adage that a “rising tide raises all boats”. In other words, if you let the rich make lots of money, that money will trickle down to everyone else. But according to an amazing new study done by none other than the International Monetary Fund, […]
© Mike Stanfill It is no coincidence that immediately after federal courts invalidated the FCC’s rules enforcing network neutrality (which means that your ISPs can discriminate against any content that competes with them, or which they simply don’t like), that Comcast announces that they are paying billions of dollars to acquire Time Warner Cable. The […]
© Tom Tomorrow I think Osama bin Laden made a (literally) fatal mistake. I mean, he was rich. He should have bought up a bunch of American corporations (including of course some media companies). After all, look at what big corporations have done to our country (and we are only looking at recent events): yes, […]
© Clay Bennett A must read article on Juan Cole’s website by Anthony Orlando points out that not only has the theory of trickle down economics been completely disproven, but there never was any evidence of it. A quick look at the historical record shows that. Economists at the International Monetary Fund looked at 140 […]
House Republicans say “This is the line in the sand.” House Speaker John Boehner has given in to the radical fringe of his party who say they will shut down the government unless Democrats agree to repeal healthcare reform. So here is the choice they are demanding: If Obamacare is repealed, people will die. If […]
© Jen Sorensen As Paul Krugman points out, Republicans are again trying to do something that will hurt the economy while punishing the poor for, well, being poor. They are trying to shrink (and ultimately kill) the food stamp program, which is one of the most successful programs ever for making sure people don’t starve, […]
Republicans claim to be in favor of free markets, but their actions speak louder than their words. For example, in North Carolina a bill sponsored by Republican state senator Tom Apodaca was just approved by the senate commerce committee, and is now ready for a vote, which would prohibit electric car maker Tesla from selling […]
The sequester is slashing and burning all branches of our government. So which one solitary thing is so important that Congress actually fixes it? © Matt Wuerker © Ruben Bolling
It’s Friday. Sit down. Relax. Then read the latest article written by hero Matt Taibbi “Everything Is Rigged: The Biggest Price-Fixing Scandal Ever“. Not only are the biggest banks “too big to fail” and “too big to jail”, they are even “too big to even give a shit”. Bankers were recorded illegally manipulating world interest […]
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