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Wealth Inequality/Class

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May Day. (Image: Rich Black) People seem to know about May Day everywhere except where it began, here in the United States of America.

May Day

That's because those in power have done everything they can to erase its real meaning. For example, Ronald Reagan designated what he called "Law Day" - a day of jingoist fanaticism, like an extra twist of the knife in the labor movement. Today, there is a renewed awareness, energized by the Occupy movement's organizing, around May Day, and its relevance for reform and perhaps eventual revolution.

If you're a serious revolutionary, then you are not looking for an autocratic revolution, but a popular one, which will move toward freedom and democracy. Harvest of Empire Part 1/ 19 l wanna watch free hd Quality movies Widescreen Preview. Michael Parenti - No War But the Class War Part 2. Michael Parenti - No War But the Class War Part 1. Graeber_sadness.pdf (application/pdf Object) Michael Parenti - No War But the Class War Part 1. Robert Reich: Detroit and the Bankruptcy of America’s Social Contract.

A city’s downfall highlights the unprecedented income segregation that exists in the U.S. today.

Robert Reich: Detroit and the Bankruptcy of America’s Social Contract

Image from Flickr via memories_by_mike By Robert ReichBy arrangement with Robert Reich One way to view Detroit’s bankruptcy—the largest bankruptcy of any American city—is as a failure of political negotiations over how financial sacrifices should be divided among the city’s creditors, city workers, and municipal retirees—requiring a court to decide instead. It could also be seen as the inevitable culmination of decades of union agreements offering unaffordable pension and health benefits to city workers.

But there’s a more basic story here, and it’s being replicated across America: Americans are segregating by income more than ever before. Chomsky: "Jobs aren't coming back" - Occupy Wall Street. The Occupy movement has been an extremely exciting development.

Chomsky: "Jobs aren't coming back" - Occupy Wall Street

Unprecedented, in fact. There’s never been anything like it that I can think of. If the bonds and associations it has established can be sustained through a long, dark period ahead — because victory won’t come quickly — it could prove a significant moment in American history. The fact that the Occupy movement is unprecedented is quite appropriate. Turning Our Backs on Unions. It stands out in part because Noah, a columnist for The New Republic, is not content to simply shake his fists at the heavens in anger.

Turning Our Backs on Unions

He spends exactly one chapter on what he calls the “rise of the stinking rich” — that is, the explosion in executive pay and what he calls “the financialization of the economy,” which has enriched one small segment of society at the expense of everyone else. Mostly, he grapples with the deep, hard-to-tickle-out reasons that the gap between the rich and the middle class in the United States has widened to such alarming proportions. How much have technological advances contributed to income inequality?

Globalization and off-shoring? The necessity of having a college education to land a decent-paying job? Chart of the Day: Unemployment in Europe Is Catastrophically High and Still Getting Worse. This is from the OECD's Employment Outlook 2013, and it shows the level of unemployment in the world's rich countries.

Chart of the Day: Unemployment in Europe Is Catastrophically High and Still Getting Worse

Joblessness in Greece and Spain is at about 27 percent, higher than the United States suffered even during the depths of the Great Depression. Portugal, Ireland, Slovakia, and Italy are at somewhat less catastrophic levels, but still in dire shape. Income Share of the Top 1 Percent, 1913-2012 (annotated) September 20, 2013 This graphic adds an annotated political history to the iconic (and recently-updated) Piketty and Saez data on top income shares in the U.S.

Income Share of the Top 1 Percent, 1913-2012 (annotated)

The Real Numbers: Half of America in Poverty. The Census Bureau has reported that 15% of Americans live in poverty.

The Real Numbers: Half of America in Poverty

A shocking figure. But it's actually much worse. Inequality is spreading like a shadowy disease through our country, infecting more and more households, and leaving a shrinking number of financially secure families to maintain the charade of prosperity. 1. Almost half of Americans had NO assets in 2009 Analysis of Economic Policy Institute data shows that Mitt Romney's famous 47 percent, the alleged 'takers,' have taken nothing. Billionaires' club has welcomed 210 new members, Forbes rich list reports.

Exclusive: 4 in 5 in US face near-poverty, no work. WASHINGTON (AP) -- Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Exclusive: 4 in 5 in US face near-poverty, no work

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend. The findings come as President Barack Obama tries to renew his administration's emphasis on the economy, saying in recent speeches that his highest priority is to "rebuild ladders of opportunity" and reverse income inequality. Hardship is particularly growing among whites, based on several measures. Mark Blyth: Austerity - The History of a Dangerous Idea. Corporate Tax Rates Plummet As Profits Soar. Individual income tax payments have been rising fast since the economy began to recover, even though wages have hardly budged.

Corporate Tax Rates Plummet As Profits Soar

But the same isn’t true for taxes for most corporations. For the vast majority of America’s 5.8 million corporations, profits soared in 2010 — up 53 percent compared to 2009 — when the recession official ended at mid-year. Despite skyrocketing profits, however, their corporate income tax bills actually shrank by $1.9 billion, or 2.6 percent. The effective tax rate paid by 99.95 percent of companies fell to 15.9 percent in the robustly profitable year of 2010, from 24.9 percent in the half-recession year 2009. Those figures do not count the 2,772 companies that dominate the American economy. Their combined profits soared 45.2 percent to a new record in 2010, but their taxes rose just 14.8 percent, new IRS data show.