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August 30, 2015
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Tag: Money

VIDEO: The Other Side of the Hamptons: The Working Poor

Long established as a playground for the mega-rich, New York’s Hamptons see some beachfront mansions selling for $100 million, and designer boutiques jostle for space on the streets. But beyond the luxury is a side we don’t see, where low-paid workers struggle to get by and 7 percent of the population lives below the poverty line.

Posted on Aug 14, 2015 READ MORE



More Dutch Cities to Experiment With Universal Basic Income

Taking the lead from the city of Utrecht, other Dutch cities are considering social experiments with basic income—an income unconditionally granted to all its residents on an individual basis, without a means test or work requirement.

Posted on Aug 14, 2015 READ MORE



The Outrageous Ascent of CEO Pay

The Securities and Exchange Commission just ruled that large publicly held corporations must disclose the ratios of their top executives’ pay to the average pay of their workers.

Posted on Aug 10, 2015 READ MORE


Untaxed Corporate Profits

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Posted on Aug 9, 2015 READ MORE



Greece Debt Crisis: Massive Stock Plunge After Five-Week Shutdown

Ending down 16.23 percent by the end of Monday, Athens’ stock market experienced its worst daily performance since at least 1985, when modern record keeping began.

Posted on Aug 3, 2015 READ MORE



The Middle Class, Too, Is Keeping Poor Kids Back, U.K. Study Finds

A report by the Social Mobility and Child Poverty Commission in the United Kingdom found that wealthier parents hoard the best opportunities for their own children, ensuring that smarter kids who are financially disadvantaged stay put in the socioeconomic hierarchy.

Posted on Jul 28, 2015 READ MORE


The Dark Money Shark

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Posted on Jul 23, 2015 READ MORE



Why Is Venezuela Trying to Annex Two-Thirds of Neighboring Guyana?

After the discovery of a potentially rich oil deposit in the contentious Essequibo region in Guyana, Venezuela’s President Nicolás Maduro appears intent on exploiting his neighbor’s land.

Posted on Jul 15, 2015 READ MORE


VIDEO: John Oliver Reveals How Billionaire Sports Owners Use Your Tax Money to Build Absurd Stadiums

Many Americans have no idea that the ostentatious swimming pools and aquariums featured in some sports stadiums (not to mention the stadiums themselves) were constructed using public funds.

Posted on Jul 13, 2015 READ MORE



71% of the World’s Population Survives on Less Than $10 a Day

A new report from the Pew Research Center explains that the notion of a global middle class is “more promise than reality.”

Posted on Jul 10, 2015 READ MORE



Petros Giannakouris / AP

It’s Greek to Goldman Sachs

“What is this Goldman Sachs and why has it caused us so much grief?” is a question they must be asking in even the most remote of Greek villages, as they are throughout much of this economically troubled world. (Reposted)

Posted on Jun 30, 2015 READ MORE



Brandon Anderson / CC BY-NC-ND 2.0

Here’s Why Giving People Jobs and Training Could Actually Help Cut Down on Crime

A new study suggests that when people who have been involved in crimes such as theft are given the opportunity and training to do “legitimate work,” they are less likely to continue criminal activities.

Posted on Jun 30, 2015 READ MORE



This Is How We Should Punish Bank Felons

What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime?

Posted on Jun 22, 2015 READ MORE



Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success

Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.

Posted on Jun 11, 2015 READ MORE



VIDEO: Raising the Estate Tax on the Very Rich Is Step 8 to Save the Economy

At a time of historic economic inequality, it should be a no-brainer to raise a tax on inherited wealth for the very rich. Yet there’s a move among some members of Congress to abolish it altogether.

Posted on Jun 6, 2015 READ MORE



Why Federal Disaster Relief Money Poses a Bit of Awkwardness for Texas

As extreme weather marked by tornadoes and flooding continues to sweep across Texas, Gov. Greg Abbott has requested—and President Obama has granted—federal help.

Posted on Jun 2, 2015 READ MORE



VIDEO: Ending Corporate Welfare Now Is Step 6 in Saving the Economy

Corporations aren’t people, despite what the Supreme Court says, and they don’t need or deserve handouts.

Posted on May 28, 2015 READ MORE


American Billionaire

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Posted on May 26, 2015 READ MORE



Whatever Happened to Antitrust?

Last week’s settlement between the Justice Department and five giant banks reveals the appalling weakness of modern antitrust law.

Posted on May 25, 2015 READ MORE



Are America’s Small Businesses Finally Realizing That They’re Being Screwed by Big Business?

Some are breaking ranks and telling congressional Republicans not to make the deal at the very top of big businesses’ wish list.

Posted on May 20, 2015 READ MORE


$20 Bill

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Posted on May 17, 2015 READ MORE



AFGE (CC BY 2.0)

Bernie Sanders and Elizabeth Warren Want Obama to Join the ‘Fight for $15’ to Raise Minimum Wage

The effort to raise the minimum wage to $15 an hour is gaining momentum, and two of American progressives’ biggest allies are doing what they can to get the executive branch behind the movement.

Posted on May 16, 2015 READ MORE



VIDEO: Expanding Social Security Is Step 3 in Saving the Economy

You hear a lot about how corporations are struggling to make good on their pension promises, and how Social Security won’t be there for you in retirement. Baloney on both counts.

Posted on May 16, 2015 READ MORE



The Obamas’ Net Worth Is as Much as $6.9 Million

The first family almost qualifies as 1 percenters, with a 2014 adjusted gross income a bit shy of the $521,411 that would put them among the richest segment of Americans, according to financial disclosures released Friday.

Posted on May 15, 2015 READ MORE


VIDEO: Obama Trades Transparency

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Posted on May 14, 2015 READ MORE



Raising the Minimum Wage Is Step One in Making the Economy Work for the Many, Not Only the Few

A basic moral principle that most Americans agree on is no one who works full time should be in poverty, nor should their family.

Posted on May 11, 2015 READ MORE



Mikey Wally (CC BY-NC-ND 2.0)

How the Trans-Pacific Partnership Is Just More Trickle-Down Economics

By now we should know that when big corporations, Wall Street and the wealthy get special goodies, the rest of us get shafted. Yet here comes the Trans-Pacific Partnership.

Posted on May 5, 2015 READ MORE



The Real Reason Inequality Is Widening and Average Working Americans Can’t Gain Ground

For the past quarter-century I’ve offered in articles, books, and lectures an explanation for why average working people in advanced nations like the United States have failed to gain ground and are under increasing economic stress.

Posted on May 4, 2015 READ MORE



How the New Flexible Economy Is Making Workers’ Lives Hell

These days it’s not unusual for someone on the way to work to receive a text message from her employer saying she’s not needed right then.

Posted on Apr 21, 2015 READ MORE


Welfare Queen

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Posted on Apr 16, 2015 READ MORE


Taxes

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Posted on Apr 14, 2015 READ MORE



Just How ‘Socially Advanced’ Is the U.S.? You Might Be Surprised

The Social Progress Index has published the latest global data on quality of life, and America’s “We’re No. 1” crowd isn’t left with much to shout about.

Posted on Apr 9, 2015 READ MORE



How Big Money Is Buying Off Criticism of Big Money

Our democracy is directly threatened when the rich buy off politicians.

Posted on Apr 8, 2015 READ MORE



How the Rise of the Working Poor and Nonworking Rich Is Challenging Core American Assumptions

Many believe that poor people deserve to be poor because they’re lazy and that the rich deserve their wealth because they work harder than others. The reality is very different.

Posted on Mar 31, 2015 READ MORE


Spending Caps

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Posted on Mar 30, 2015 READ MORE



spDuchamp (CC BY 2.0)

We Need a New Economic Model Because the Current Model Is Falling Apart

The economy toward which we’re hurtling—in which more and more is generated by fewer and fewer people who reap almost all the rewards, leaving the rest of us without enough purchasing power—can’t function.

Posted on Mar 19, 2015 READ MORE



Does Being Rich Make You a Self-Centered Lawbreaker?

Work by social psychologist Paul Piff suggests that the more money people have, the more likely they are to cheat or put their needs before those of others.

Posted on Mar 18, 2015 READ MORE


Recovery

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Posted on Mar 14, 2015 READ MORE



Will the Democratic Nominee for 2016 Have the Courage to Take On the Moneyed Interests?

Taking on the moneyed interests is risky, but a failure to take them on prevents any real change in the prospects of the bottom 90 percent of Americans.

Posted on Mar 3, 2015 READ MORE



Here’s How a Couple of Private Banks Take Advantage of Prisoners and Their Families

Who knew you could unscrupulously make millions off unsuspecting state inmates?

Posted on Feb 25, 2015 READ MORE



Shutterstock

Tax Fairness Could Mean More Resources

Roads are crumbling, bridges require repairs, schools need upgrades and public pension systems remain underfunded. How can states and cities find the money to address any of these problems? One way could be through their tax codes.

Posted on Feb 20, 2015 READ MORE



Kostas Koutsaftikis / Shutterstock.com

The Pro-Workers, Pro-Growth Experiment in Greece Is Under Threat

While the wealthiest 85 individuals on the planet own more wealth than the bottom half of the world’s population—and when the top 1 percent will soon own more wealth than the bottom 99 percent—the people of Greece and the anti-austerity party, Syriza, they elected to lead them are struggling to rebuild their economy so that ordinary people there can live with a shred of dignity and security.

Posted on Feb 18, 2015 READ MORE



How Trade Deals Boost the Top 1 Percent and Bust the Rest

I used to believe in trade agreements. That was before the wages of most Americans stagnated and a relative few at the top captured just about all the economic gains.

Posted on Feb 17, 2015 READ MORE



Shutterstock

Juvenile Republicans Turn on One Another

If the party’s aim is to show Americans it is ready to govern, we are witnessing an epic fail.

Posted on Feb 7, 2015 READ MORE



We’re Barreling Toward a Robot-Based Economy Where All Profits Go to the Robots’ Owners

How would you like to live in an economy in which robots do everything that can be predictably programmed in advance and almost all profits go to the robots’ owners?

Posted on Feb 3, 2015 READ MORE


The Age of Cryptocurrency

Posted on Jan 30, 2015 READ MORE



The Age of Cryptocurrency

A new book examines Bitcoin, a “highly disruptive technology” that has the modest goal of “freeing people from the tyranny of centralized trust.”

Posted on Jan 30, 2015 READ MORE



Put a Name to the 80 People Who Own Half of the World’s Wealth

Some of the names on this list of the über rich will seem familiar while others may come as a surprise.

Posted on Jan 27, 2015 READ MORE



The Middle Class Can’t Be Saved Unless Wall Street Is Tamed

Do we really need reminding about what happened six years ago?

Posted on Jan 27, 2015 READ MORE


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