Search

EEOC to Hold Executive Leadership Training Conference Oct. 29-31 in Charlottesville

Mohler made this comment inequal rights essay, one year after private, consensual same-gender sexual behavior was decriminalized across the U. Thus rulings by the High Equal rights essay do not necessarily apply there. We made it harder for many Americans to join unions. The anemic recovery we are now experiencing is directly related to the decline in median household incomes aftercoupled with the inability or unwillingness of consumers to take on additional debt and of banks to finance that debt—wisely, given the damage wrought by the bursting debt bubble. Wealth has become even more concentrated than income.



If an economy is to function well, people need incentives to work hard and innovate. The pertinent question is not whether income and wealth inequality is good or bad. It is at what point do these inequalities become so great as to pose a serious threat to our economy, our ideal of equal opportunity and our democracy.

We are near or have already reached that tipping point. The dysfunctions of our economy and politics are not self-correcting when it comes to inequality. But a return to the Gilded Age is not inevitable. It is incumbent on us to dedicate ourselves to reversing this diabolical trend. But in order to reform the system, we need a political movement for shared prosperity. Herewith a short summary of what has happened, how it threatens the foundations of our society, why it has happened, and what we must do to reverse it.

What has Happened The data on widening inequality are remarkably and disturbingly clear. The Congressional Budget Office has found that between and , the onset of the Great Recession, the gap in income—after federal taxes and transfer payments—more than tripled between the top 1 percent of the population and everyone else.

The after-tax, after-transfer income of the top 1 percent increased by percent, while it increased less than 40 percent for the middle three quintiles of the population and only 18 percent for the bottom quintile. The gap has continued to widen in the recovery.

According to the Census Bureau, median family and median household incomes have been falling, adjusted for inflation; while according to the data gathered by my colleague Emmanuel Saez, the income of the wealthiest 1 percent has soared by 31 percent. In fact, Saez has calculated that 95 percent of all economic gains since the recovery began have gone to the top 1 percent.

Wealth has become even more concentrated than income. In the United States, consumer spending accounts for approximately 70 percent of economic activity. If the middle class is forced to borrow in order to maintain its standard of living, that dampening may come suddenly—when debt bubbles burst.

Consider that the two peak years of inequality over the past century—when the top 1 percent garnered more than 23 percent of total income—were and Each of these periods was preceded by substantial increases in borrowing, which ended notoriously in the Great Crash of and the near-meltdown of The anemic recovery we are now experiencing is directly related to the decline in median household incomes after , coupled with the inability or unwillingness of consumers to take on additional debt and of banks to finance that debt—wisely, given the damage wrought by the bursting debt bubble.

We cannot have a growing economy without a growing and buoyant middle class. We cannot have a growing middle class if almost all of the economic gains go to the top 1 percent. High inequality correlates with low upward mobility. Studies are not conclusive because the speed of upward mobility is difficult to measure. But even under the unrealistic assumption that its velocity is no different today than it was thirty years ago—that someone born into a poor or lower-middle-class family today can move upward at the same rate as three decades ago—widening inequality still hampers upward mobility.

The distance between its bottom and top rungs, and between every rung along the way, is far greater. Anyone ascending it at the same speed as before will necessarily make less progress upward. In addition, when the middle class is in decline and median household incomes are dropping, there are fewer possibilities for upward mobility. A stressed middle class is also less willing to share the ladder of opportunity with those below it. For this reason, the issue of widening inequality cannot be separated from the problems of poverty and diminishing opportunities for those near the bottom.

They are one and the same. The connection between widening inequality and the undermining of democracy has long been understood. With all that money, no legislative bulwark can be high enough or strong enough to protect the democratic process. The threat to our democracy also comes from the polarization that accompanies high levels of inequality.

Partisanship—measured by some political scientists as the distance between median Republican and Democratic roll-call votes on key economic issues—almost directly tracks with the level of inequality.

It reached high levels in the first decades of the twentieth century when inequality soared, and has reached similar levels in recent years. When large numbers of Americans are working harder than ever but getting nowhere, and see most of the economic gains going to a small group at the top, they suspect the game is rigged. Some of these people can be persuaded that the culprit is big government; others, that the blame falls on the wealthy and big corporations.

The result is fierce partisanship, fueled by anti-establishment populism on both the right and the left of the political spectrum. Both roughly doubled in those years, adjusted for inflation. But after the s, productivity continued to rise at roughly the same pace as before, while wages began to flatten. Containers, satellite communication technologies, and cargo ships and planes radically reduced the cost of producing goods anywhere around the globe, thereby eliminating many manufacturing jobs or putting downward pressure on other wages.

Automation, followed by computers, software, robotics, computer-controlled machine tools and widespread digitization, further eroded jobs and wages. These forces simultaneously undermined organized labor. Unionized companies faced increasing competitive pressures to outsource, automate or move to nonunion states. In fact, they added to the value of complex work done by those who were well educated, well connected and fortunate enough to have chosen the right professions.

Those lucky few who were perceived to be the most valuable saw their pay skyrocket. Instead of responding to these gale-force winds with policies designed to upgrade the skills of Americans, modernize our infrastructure, strengthen our safety net and adapt the workforce—and pay for much of this with higher taxes on the wealthy—we did the reverse. We began disinvesting in education, job training and infrastructure. We began shredding our safety net. We made it harder for many Americans to join unions.

The decline in unionization directly correlates with the decline of the portion of income going to the middle class. And we reduced taxes on the wealthy.

Financial deregulation in particular made finance the most lucrative industry in America, as it had been in the s. Here again, the parallels between the s and recent years are striking, reflecting the same pattern of inequality. Other advanced economies have faced the same gale-force winds but have not suffered the same inequalities as we have because they have helped their workforces adapt to the new economic realities—leaving the United States the most unequal of all advanced nations by far.

What We Must Do There is no single solution for reversing widening inequality. Here are ten initiatives that could reverse the trends described above: The fastest-growing categories of work are retail, restaurant including fast food , hospital especially orderlies and staff , hotel, childcare and eldercare. But these jobs tend to pay very little. No American who works full time should be in poverty. The rise and fall of the American middle class correlates almost exactly with the rise and fall of private-sector unions, because unions gave the middle class the bargaining power it needed to secure a fair share of the gains from economic growth.

We need to reinvigorate unions, beginning with low-wage service occupations that are sheltered from global competition and from labor-replacing technologies. Lower-wage Americans deserve more bargaining power. This investment should extend from early childhood through world-class primary and secondary schools, affordable public higher education, good technical education and lifelong learning.

Education should not be thought of as a private investment; it is a public good that helps both individuals and the economy. Yet for too many Americans, high-quality education is unaffordable and unattainable.

Every American should have an equal opportunity to make the most of herself or himself. High-quality education should be freely available to all, starting at the age of 3 and extending through four years of university or technical education. Many working Americans—especially those on the lower rungs of the income ladder—are hobbled by an obsolete infrastructure that generates long commutes to work, excessively high home and rental prices, inadequate Internet access, insufficient power and water sources, and unnecessary environmental degradation.

Every American should have access to an infrastructure suitable to the richest nation in the world. Between the end of World War II and when the wealthiest were getting paid a far lower share of total national income , the highest marginal federal income tax rate never fell below 70 percent, and the effective rate including tax deductions and credits hovered around 50 percent.

The implicit promise—sometimes made explicit—was that the benefits from such cuts would trickle down to the broad middle class and even to the poor.

At a time in American history when the after-tax incomes of the wealthy continue to soar, while median household incomes are falling, and when we must invest far more in education and infrastructure, it seems appropriate to raise the top marginal tax rate and close tax loopholes that disproportionately favor the wealthy.

Payroll taxes account for 40 percent of government revenues, yet they are not nearly as progressive as income taxes. As Piketty warns, the United States, like other rich nations, could be moving toward an oligarchy of inherited wealth and away from a meritocracy based on labor income.

The financial sector has added to the burdens of the middle class and the poor through excesses that were the proximate cause of an economic crisis in , similar to the crisis of Even though capital requirements have been tightened and oversight strengthened, the biggest banks are still too big to fail, jail or curtail—and therefore capable of generating another crisis. As the returns to capital continue to outpace the returns to labor, this allocation of ownership further aggravates inequality.

The share could be cashed in gradually starting at the age of Last, but certainly not least, we must limit the political influence of the great accumulations of wealth that are threatening our democracy and drowning out the voices of average Americans. Time and again, when the situation demands it, America has saved capitalism from its own excesses. No other nation is as fundamentally pragmatic. We will reverse the trend toward widening inequality eventually. We have no choice. But we must organize and mobilize in order that it be done.



Appalachian State University's online resource for parents and families. Women’s March, Philadelphia, PA You Are Not Equal. I’m Sorry. (A post is making rounds on social media, in response to the Women’s March on Saturday, January 21, It starts with.

Total 3 comments.
#1 12.08.2018 â 14:24 Todej:
I forgot where I already met almost the same collection of data, but thanks anyway

#2 14.08.2018 â 08:14 Avorobjev:
In a blog I've already met almost the same topic!

#3 17.08.2018 â 07:24 Etruhollywood:
Fur-trees, golimaya news