62 people own same as half world – Oxfam. The 62 richest people own as much wealth as the poorest half the world's population. CEO effect on firm performance mostly due to chance. A Texas A&M University researcher calls into question the common notion that CEOs have a large effect on firm performance.
Though previous research contends that the so-called "CEO effect" is substantial, a study by Professor of Management Markus Fitza, whose research centers on firm performance, suggests that most of the performance attributed to CEOs could actually be due to chance -- to factors outside of CEOs' control. Global income equality now back at 1820s levels: OECD. The gap between the haves and the have-nots globally is now at the same level as in the 1820s, the OECD said Thursday, warning it was one of the most "worrying" developments over the past 200 years.
In a major report on global well-being over the past two centuries, the Organisation for Economic Cooperation and Development noted inequality shot up after globalisation took root in the 1980s. Researchers studied income levels in 25 countries, charted them back in time to 1820 and then collated them as if the world were a single country. Income inequality makes the rich more Scrooge-like, study finds. As the annual "season of giving" dawns, a new study finds that stark income inequity - a dramatically rising trend in the United States - makes the "haves" less generous toward others.
Higher-income people were less inclined to be generous both when they came from states where income inequality is high and when they were made to believe that there was a sharp divide between rich and poor, a new study found. And they were less charitable in both cases than were low-income people. Why One of the Richest Countries on Earth Is So Poor: The Facts that Drive the Sanders Revolt An excerpt from Runaway Inequality: An Activist's Guide to Economic Justice The United States is among the richest countries in all of history.
But if you're not a corporate or political elite, you'd never know it. In the world working people inhabit, our infrastructure is collapsing, our schools are laying off teachers, our drinking water is barely potable, our cities are facing bankruptcy, and our public and private pension funds are nearing collapse. We - consumers, students, and homeowners - are loaded with crushing debt, but our real wages haven't risen since the 1970s. How can we be so rich and still have such poor services, so much debt and such stagnant incomes? Revealed: how the wealth gap holds back economic growth. Surprising data on who owns U.S. firms and how much they pay in taxes. Much is made of the tax rate that U.S. corporations pay (a 35% statutory rate, higher than in many other countries, though U.S. firms often take advantage of tax breaks to reduce their effective rate).
But less is heard about the tax rate of “pass-throughs,” the partnerships and other businesses whose income is taxed at the same rate as personal income, primarily because there is no simple number to look up. The share of overall U.S. business income by entity types from 1980 to 2012, as presented in a paper by economists with the U.S. Treasury and others at a National Bureau of Economic Research paper in Washington on Sept. 24, 2015. Michael Cooper et. al paper Why this matters: Not so long ago, corporations dominated. New Research Reveals Hidden Growth of Extreme Poverty in America.
A new book by two of our nation’s foremost poverty researchers, Kathryn Edin and H.
Luke Shaefer, reveals the desperate circumstances that hundreds of thousands of children and their parents increasingly face: living with virtually no cash income in an economy that requires it to meet nearly every human need. In $2.00 a Day: Living on Almost Nothing in America, Edin and Shaefer trace this disturbing trend to the 1996 welfare law, which has gradually but inexorably gutted the cash assistance safety net for families with children. Attention to this often neglected side of our nation’s extreme economic inequality is especially timely as policymakers from both parties consider reauthorizing the 1996 welfare law. As the book vividly shows, we are long overdue to take a different path — one that upholds our nation’s values, including our responsibility to protect and empower the most vulnerable by eliminating extreme poverty. How did we get here, and how do we get out?
Robert Reich: America's Immoral Economy. An economy depends fundamentally on public morality; some shared standards about what sorts of activities are impermissible because they so fundamentally violate trust that they threaten to undermine the social fabric.
It is ironic that at a time the Republican presidential candidates and state legislators are furiously focusing on private morality – what people do in their bedrooms, contraception, abortion, gay marriage – we are experiencing a far more significant crisis in public morality. We’ve witnessed over the last two decades in the United States a steady decline in the willingness of people in leading positions in the private sector – on Wall Street and in large corporations especially – to maintain minimum standards of public morality. They seek the highest profits and highest compensation for themselves regardless of social consequences. Inequality for All - Watch It Here or on Netflix. Transcript - Inequality for All. This is a rush transcript.
Copy may not be in its final form. AMY GOODMAN: Five years ago this weekend, the Wall Street giant Lehman Brothers collapsed, triggering the worst financial crisis since the Great Depression. At the time, Lehman was the fourth-largest bank on Wall Street. It collapsed under the weight of subprime, mortgage-backed securities tied to the crumbling U.S. housing market. Five years after the financial crisis began, millions are still suffering, but Wall Street is not. Today we’re joined by former secretary of labor and renowned economist Robert Reich.
Financial Wealth Pie Chart. Benefits for Congressional Reps. Salary of Congressional Representatives. Actual Work Days for Congressional Reps. Congress of and for Millionaires. Federal income payroll taxes 2011. Tax Cuts for the Most Wealthy. Where Jobs were created by Tax Cuts to the most wealthy. Where the jobs went. Poverty in America. Relative child poverty. Income Inequality by Countries. Percent of low income families able to climb out of poverty by country. CEO Pay. CEO Pay. US Gender Pay Gap, by Sex, Race Ethnicity. Most Paid Leave. World Prison Population. Americans Incarcerated.