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By Rachel Goldfarb, originally published on Next New Deal

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We Built This Country on Inequality (The Nation)

Mychal Denzel Smith writes that the U.S. economy was built on a foundation of inequality for women and racial minorities, and that we must fight racism and sexism if we hope to close the wealth gap.

Oklahoma Governor Signs Law Barring Cities From Raising Minimum Wage (AJAM)

The Oklahoma law also bars cities from requiring paid sick leave or vacation time, reports Amel Ahmed. This seems intended to preempt a push for a state-level minimum wage increase, as in California and Maryland.

Treat Wage Theft as a Criminal Offense (WaPo)

Catherine Rampell asks why the consequences for stealing thousands from workers' paychecks are so much less severe than the consequences of stealing from someone's home.

Obamacare Succeeded for One Simple Reason: It's Horrible to be Uninsured (Vox)

Sarah Kliff says the eight million sign-ups are proof that insured pundits didn't understand how desperate the uninsured and underinsured were to get health insurance.

Antitrust in the New Gilded Age (Robert Reich)

Robert Reich suggests that today's concentrated wealth resembles the Gilded Age, right down to the need to break up too-large corporations. He cites the pending Comcast-Time Warner merger as a troubling example.

New on Next New Deal

Not Just the Long-Term Unemployed: Those Unemployed Zero Weeks Are Struggling to Find Jobs

Roosevelt Institute Fellow Mike Konczal looks at the data on those who move from one employer directly to another, without any unemployment. When even those workers struggle on the job market, wage growth slows.


Originally posted to Daily Kos Economics on Fri Apr 18, 2014 at 05:09 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Economies Controlled by the wealthy (1+ / 0-)
    Recommended by:
    jbsoul

    The famous Citigroup memo for 2006 was telling the truth saying: The U.S.,UK, and Canada are the key Plutonomies - economies controlled by the wealthy, As Professor Ha-Joon Chang noted none of that was accidental nor the actions of misguided honest politicians.

    "RISKS -- WHAT COULD GO WRONG?
    Our whole plutonomy thesis is based on the idea that the rich will keep getting richer. This thesis is not without its risks. For example, a policy error leading to asset deflation, would likely damage plutonomy. Furthermore, the rising wealth gap between the rich and poor will probably at some point lead to a political backlash. Whilst the rich are getting a greater share of the wealth, and the poor a lesser share, political enfranchisement remains as was -- one person, one vote (in the plutonomies). At some point it is likely that the 99% will fight back against the rising profit share of the rich and there will be a political backlash against the rising wealth of the rich. This could be felt through higher taxation on the rich (or indirectly though higher corporate taxes/regulation) or through trying to protect home-grown laborers, in a push-back on globalization -- either anti-mmigration, or protectionism. We don’t see this happening yet, though there are signs of rising political tensions. However we are keeping a close eye on developments.

    http://www.scribd.com/...

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Fri Apr 18, 2014 at 06:28:52 AM PDT

  •  Think for a moment, (0+ / 0-)

    How many people do you know who have no wealth?  No savings, no assets, no equity in a home, a car, a pension?

    When you look at the younger generation, they are being robbed by the plutocrats.  When I started working, I never worked for a company that did not offer a pension, retirement, health insurance.  I did not have my college degree.  I was not working for the Fortune 500.  But in the early '70's, before Trickle Down Economics, that was just the norm.

    Then came Reagan!  Pi$$ on the common people.  Excuse me, let's call it "Trickle Down, I'll bet that we can sell that idea!".  401K's replaced retirement pensions.  The great S & L scandal of the early 80's, Enron, how many other scams, and here we are now.  Charter schools, private colleges and college loans.

    Pensions and Retirement plans are the exception, not the rule.  The 1/100th of 1% are getting all of the income, they are accumulating all of the wealth.  We know that the mortgage lenders ran a scam, inflating all of the home loans, and then the government printed more money to bail out the lenders, but never gave the homeowners any relief.

    We will soon face a choice in the USA:  Freedom or Free Dumb.  The right wing is gathering under the banner of Free Dumb.  End public education, and where you cannot end it, quit teaching science.

    Excuse the rant, but it's early.

    Voters should select people to represent them in their government. People in government should not select people who may vote!

    by NM Ray on Mon Apr 21, 2014 at 06:08:06 AM PDT

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