Psychology of Equity

Excerpts from Elizabeth Kolbert on the Psychology of Equity, Jan 2018, New Yorker “Unlike the rigid columns of numbers that make up a bank ledger, status is always a moving target, because it is defined by ongoing comparisons to others,” Payne writes. In another study, “Feeling disadvantaged magnified their perception of racial differences,” Payne writes. “The Broken Ladder” is full of …

Over 57 million freelance, 36 percent of all US workers, on track to be the majority by 2027. Nearly two-thirds have to dip into their savings at least once a month.

MJ Kaplan posted Jan 04, 2018 in Yes! Magazine The future of jobs, work, and workplaces is facing rampant transformation. One of the most visible changes has been the rising number of contract workers, who, according to the Freelancers’ Union, number 57.3 million people in the US. That’s 36 percent of all workers! If current trends continue, by 2027, contract workers will outnumber …

The Vanishing Middle Class, 80% subsistence

As 2017 draws to an end, it is perhaps fitting that Congress chose to close out the year with the passage of a tax bill that does more to redistribute wealth to the already wealthy than any other piece of legislation since the Gilded Age. The tax bill, as regressive as it is, isn’t new, but simply the logical outcome …

Nobel economist says bad inequality is a symptom of policies that can and should be reversed

A Nobel Prize-winning economist thinks we’re asking all the wrong questions about inequality, on Quartz.com 31 Dec 2017 Nobel thinking. (Reuters/Dominick Reuter) SHARE WRITTEN BY Preeti Varathan December 27, 2017 America is trying to come to terms with its economic inequality. Does inequality spur growth or kill it? Is it a necessary evil—or necessarily bad? Angus Deaton, an economics professor …

How Massive Inequality Permeates ‘All Areas of American Society’ in 12 Simple Charts

“Unfortunately the policy focus on the last year, culminating in the end-of-year passage of massive tax cuts for corporations, addressed nonexistent problems rather than the real problems we face.” by Jessica Corbett, staff writer Common Dreams Dec 2017 Twelve charts about American inequality, compiled by the Economic Policy Institute, depict data about issues that include stagnant wages and wealth gaps based on …

Road to zero wealth

Excerpt from Josh Hoxie, in Newseek, Dec 2017 Wealth, the basic measure of how much a family owns minus how much they owe, is concentrating in fewer and fewer hands — and those hands happen to be overwhelmingly white. A report I co-authored, The Road to Zero Wealth, shows that the typical black family saw an inflation-adjusted decrease in their household …

Inequality in the news – Dec 2017

Susan Anderson, NYT, 17 Dec 2017 An Egregious Wealth Gap Returns  As things stand now, the top 1 percent of the population by wealth — the group that would primarily benefit from the tax bill — controls nearly 40 percent of the country’s wealth. The bottom 90 percent has just 27 percent, according to the economists Thomas Piketty, Emmanuel Saez and Gabriel …

Why millennials are facing the scariest financial future of any generation since the Great Depression

Dec 2017, By Michael Hobbes Today, they’re almost all indirect hires, employees of random, anonymous contracting companies: Laundry Inc., Rent-A-Guard Inc., Watery Margarita Inc. In 2015, the Government Accountability Office estimated that 40 percent of American workers were employed under some sort of “contingent” arrangement like this—from barbers to midwives to nuclear waste inspectors to symphony cellists. Since the downturn, …

Black Labor Convening on Just Transition

Black Labor Convening on Just Transition, held, December 11-12, 2017, Hilton Garden Inn Raleigh-Durham Research Triangle, 4620 South Miami Blvd., Durham, North Carolina, 27703, USA African American communities, including workers, are most likely to be exposed to the pollution from fossil fuel based energy production through coal plants, oil and gas refineries, as well as pollution from energy production through nuclear facilities and waste incinerators. …

New Study Shows How Taxing Rich Saves Lives, While Trump’s Tax Plan… Kills — a difference of 60,000 lives a year between Trump’s and Sanders’ plans

Study found that candidate Trump’s plan would result in nearly 30,000 added deaths per year from all causes, while a plan put forth by Bernie Sanders would actually save 31,302 lives annually By Andrea Germanos, Common Dreams,  See Kim’s article is entitled “Projected impacts of federal tax policy proposals on mortality burden in the United States: A microsimulation analysis“. “The take-home message …