“I don’t own a house. My IRA is long gone. The only thing my kids are likely to inherit right now is a pretty good object lesson in what not to do financially.”
Burns tries to stretch every dollar to maximize their quality of life on the family’s limited income.
In 2023 alone, $3.9 trillion was sapped from the bottom 90 percent— enough to give every worker a $32,000 raise.
Growing wealth inequality in the UK could be a “major driver of societal collapse” within the next decade, according to a new report.
The people who would benefit the least from additional dollars have gained the most, while the people who would benefit the most from additional dollars have gained almost nothing.
“growing inequality breeds social resentment and generates political instability. It also fuels populist, protectionist, and anti-globalization sentiments.”
Despite being (very) rich, conscientious millionaires and billionaires are calling for much higher wealth taxes to combat the rising inequality they see as a threat to democracy.
The Pope expressed hope that economically powerful individuals would come out of isolation, “reject the false security of money, and embrace the sharing of goods,” which he described as having a universal destiny, stemming from Creation itself.
Labour should be emboldened by the popularity of policies aimed at breaking down inequality: now’s the time for ambition
Richer consumers may have escaped some of the worst effects of the inflation shock and Fed tightening, particularly as financial assets soar in value.
Former Liverpool star Sadio Mané financed his own UBI-style program.
there is no permanent or decent income stream that will enable people to eat, supply customers to shops and traders, and thus no suppliers for factories to sell to.
A class can be defined in terms of three dimensions – distinctive relations of production, distinctive relations of distribution and distinctive relations to the state.
Nearly half of parents with a child older than 18 provide them with at least some financial support, according to a recent report.
For parents, however, supporting grown children can be a substantial drain at a time when their own retirement security is at risk.
The 40-year trickle-down delusion, fashioned by right-wing economists, politicians, and financial experts, has deprived average Americans of the means to support their families in a comfortable, debt-free manner. It was planned. It’s insidious. It’s ongoing. And it should outrage every last one of us.
“This inequality is no accident; the billionaire class is ensuring corporations deliver more wealth to them at the expense of everyone else,” said Oxfam’s interim executive director.
More than one-quarter of all household wealth, 26.5%, belongs to Americans who earn enough money to rank in the top percentile by income, according to Federal Reserve statistics through mid-2023.
The Institute for Fiscal Studies estimates that the bottom third of Scottish households with children will, on average, be around £2,000-a-year better off than similar English households.
The Nobel prize winner and author of new book Economics in America argues economists must get back to serving society
One million children were living in extreme poverty in 2022, according to estimates by a research charity
Last year the Good Party identified the implementation of a BIG as SA’s single most important need.
In the United States, the richest 10 percent of households own more than 70 percent of the country’s assets.
The recent court-enforceable settlement agreement between the city of Minneapolis and the Minnesota Department of Human Rights could be a historic step in combating police brutality. However, the agreement fails to contextualize police brutality as a byproduct of poverty. By failing to recognize the role of poverty in over-policing, it disincentivizes the city, and the state from instituting long-term, anti-poverty measures, such as guaranteed basic income that would address a root cause of crime that in turn plays a role in police brutality.
By: Claire Benny See original post here. Income inequality has been linked to poor physical and mental health in past research, but more recent evidence
By: Emiel de Lange, Visiting researcher, The University of Edinburgh | Jocelyne Sze, PhD Candidate in Conservation and Biodiversity, University of Sheffield | Robert Fletcher,
By: Ethan Dodd See original post here. KEY POINTS: Corporations have long wanted the US government to just get out of the way. Now, some
See original post here. HAZEL GREEN, Ky. — As he claimed the first spot in a mile-long line for free food in the Appalachian foothills,
By: Philippe Van Parijs See original post here. Not poverty, not inequality, but insecurity is at the root of the worldwide upsurge in populism and
See original post here. (New York) – Nepal’s newly elected government should prioritize coverage for all children and add coverage for millions of informal workers as it
By: Tyler Prochazka Taiwan is making history by sending out a one-time universal cash payment of $6,000 New Taiwan dollars (NTD) to every citizen “young
By: Larry Elliott Oxfam has called for immediate action to tackle a post-Covid widening in global inequality after revealing that almost two-thirds of the new
By: ELLIOTT JOHNSON and MATTHEW JOHNSON Many older generations in the UK have experienced an economic sweet spot in the course of their lives in
By: Hein Marais According to economic geographer David Harvey ‘labour is becoming less and less significant to how the economic engine of capitalism functions’ across
See original article here. Despite millions of people being pushed into hunger and poverty, 143 countries — including 94 developing nations — are implementing policy
By: Chau Lam As New York City slowly emerges from the havoc wreaked by the COVID-19 pandemic that brought to light vast inequities in the
By: Carol Paton See original article here. SA should make the R350 social grant permanent and raise taxes to pay for it, says the Organisation
By: Ghada Alsharif. See original post here. While COVID-19 wreaked havoc on the labour market, income inequality saw a significant decrease thanks in large part
By: THE POLISH ASSOCIATION OF SOCIAL PSYCHOLOGY. See original post here. The ‘anomie’ concept – that the society is disintegrating and losing moral standards –
By: Ben Steverman. See original post here. So far, 2022 is on quite a roll: war, inflation, market selloffs, recession worries, virus lockdowns in China,
By: N Chandra Mohan. See original post here. There is again a buzz surrounding the provision of a universal basic income (UBI) recommended by a
Original press release can be seen here. Global Income Coin, a crypto non-profit company, secured $2 million to launch a new cryptocurrency that ultimately will provide a
In 2020, the South African government introduced a Social Distress Relief (SDR) Grant of R350 to provide much-needed support for those who were particularly vulnerable
BY LEA HOEFER, ERIC REINHART, AND TANYA L. ZAKRISON Original Post: https://slate.com/news-and-politics/2022/03/how-cash-transfer-programs-prevent-violent-crime.html Every night in Chicago, trauma surgeons face a scenario that loops on seemingly endless repeat. An
At its core, a guaranteed income is about more than giving people money: it’s about resetting the terms of economic and political power. By Kendra Bozarth,
In a video message to the Fourth World Meeting of Popular Movements on Saturday, Pope Francis called for a universal basic income, education, and healthcare,
Opinion by Amy K. Matsui The new Netflix series “Maid” — largely based on the bestselling memoir of the same name by Stephanie Land —
By Nara Schoenberg When Brian Johnson first started noticing articles about income inequality in 2016, he had his doubts. The son of an Army officer and
By Rita Gau Is it too much to expect to be able to meet your basic needs and have the resources to obtain what contributes
A growing sense of inequality is undermining trust in both society’s institutions and capitalism, according to a long-running global survey. The 2020 Edelman Trust Barometer –
Americans who lost their jobs to the Covd-19 pandemic are returning to work, but Black and Hispanic workers continue to have higher rates of unemployment.
As rioters target supermarkets, activists call on the government to help those who cannot survive amid rising prices and mass unemployment. By: Anna Majavu The
Covid has given the world a moment to re-evaluate our relationship to work, life and social justice. How can we create new policies to meet
“Social assistance provided as charity rather than rights do not prevent poverty but perpetuate it,” 92 groups have said in a joint statement. Several unions,
Anne Case and Angus Deaton provide a compelling account of the problem, but anemic solutions. The epidemic of deaths of despair will continue unless we
“An eviction is not a single event in a person’s life. It actually changes the trajectory of a life, because it has such catastrophic implications
The human “fight or flight” response gives demagogues like Trump a tool for political manipulation. But we could replace oppression with a system of care. By Zach
The prefixes ‘food’, ‘child’ or ‘fuel’ make life for 14 million poor Britons seem easily fixable. In truth, radical action is needed By Aditya Chakrabortty
Unthinkable: It was good enough for your ancestors, says anthropologist James Suzman By: Joe Humphreys Anyone feeling lockdown guilt – that sense that you’re not being
The stimulus checks went to help people pay down debt and prepare for an uncertain financial future. The impact of this trend is significant for
The rise in poverty was triggered by a lack of new stimulus checks and the end of the $600 weekly unemployment benefit, researchers at Columbia
Juggling Financial Stress And Caregiving, Parents Are ‘Very Not OK’ In The Pandemic By: RHITU CHATTERJEE. — Back in early spring, Khristan Yates worked as
Half of adults who say they lost a job due to the coronavirus outbreak are still unemployed By: KIM PARKER, RACHEL MINKIN AND JESSE BENNETT. It’s been roughly six
By: Stella Wamae. — ______________________________________________ Key stats: Africa, with a median age of 19.5, accounts for 16.72 per cent of the world’s population, expected to double
The median worker should be making as much as $102,000 annually—if some $2.5 trillion wasn’t being “reverse distributed” every year away from the working class.
What does a “K-shaped” recovery look like, and what it means for everyday Americans By: MATTHEW ROZSA. — During a Sunday appearance on “Fox News
By: Lawrence Wintermeyer. — With enforced shutdowns driving governments to enact emergency stimulus measures and airdrop funds into citizens’ accounts, Universal Basic Income (UBI), also known
The urban job escalator has stopped moving Study shows cities have stopped providing middle-class work in recent decades — especially for Black and Latino workers.
By: David Brancaccio and Daniel Shin Millions of eligible Americans received an emergency aid payment of $1,200 earlier this year when COVID-19 began shutting down businesses and
Money buys even more happiness than it used to Jean Twenge Many factors determine happiness, but one has stirred considerable controversy over the years: money. While
Stimulus Checks Just Enough To Plug A Few Financial Holes Right Now by Christian Weller The federal government sent out checks for families under the
Many people are talking about universal basic income (UBI) these days. Giving everyone a guaranteed income could be the solution to many economic woes. But one factor that hasn’t
Wealth inequality is escalating at an alarming rate not only within the U.S. but also in countries as diverse as Russia, India and Brazil. According
Growth is the default setting for modern economies. Humans innovate and improve, find better ways of doing things. Only when shocks occur is this process
Andrew Yang’s plan to provide $1,000 in government-sponsored payments to every American adult each month — an “allowance for grown-ups,” as some have called it
Article originally published on June 6th, 2019. In most rich countries, inequality is rising, and has been rising for some time. Many people believe this
FOR IMMEDIATE RELEASE: June 19, 2019 CONTACT: Ariela Weinberger, aweinberger@rooseveltinstitute.org Toward a Just Economy: How a Universal Basic Income Can Curb Racial Inequality Coinciding with
Article originally published June 11, 2019. OTTAWA — A cross-party committee of MPs says it’s time for the government to take a deeper look at
Article originally published on 05/31/19. The net worth of the average 18- to 35-year-old has plummeted 34 percent since 1996, according to new study from
Article originally published on June 11, 2019. OTTAWA — A cross-party committee of MPs says it’s time for the government to take a deeper look
Article originally published April 12, 2019. The mayor of Brisbane, a small city squeezed between San Francisco and Silicon Valley, shares at least one thing
Article originally published on Oct 2, 2018. Many millennials are having a tough time financially launching their adult lives and careers, what with the high
Millions of British workers are overqualified for their jobs, according to figures published Monday. Sixteen percent of 16-to-64-year-olds in employment had more education than required
Two competing (or, possibly, complementary?) proposals for resolving income inequality and the hole that four decades of demand-side Reaganomics has dug us into are Universal
Yeah, yeah, yeah, Bernie Sanders, castigator of the one percent, is a millionaire now. So are Kamala Harris and Elizabeth Warren. Big whoop. There’s a
Consider for a moment that from this day forward, on the first day of every month, around $1,000 is deposited into your bank account –
Middle-class families are seeing their incomes stagnating as they are squeezed by the ultra-rich taking a bigger slice, says an international report from the OECD
Automation is appearing everywhere. Ready or not, innovations like robotics, computerized algorithms, artificial intelligence, augmented reality, medical sensors and machine-to-machine communications, 3-D printing, and autonomous
Chicago Alderman Ameya Pawar is worried about the future. He is concerned that a coming wave of automation could put millions of people out of
Sheffield, a 500,000-strong city that narrowly voted in favor of Brexit three years ago, could be the first city in England to conduct a trial
Basic income is having a whirlwind year, and it was just galvanized even further by the support of Angus Deaton, the 2015 Nobel Prize winner
