Over the past 42 years, Reaganomics has moved over 60,000 factories and nearly 20 million good-paying manufacturing jobs overseas.

It’s cut taxes on billionaires to the point they pay an average 3.4% income tax (when they pay anything at all: Trump, taking in billions, paid $750 a year for almost two decades).

Reagan’s policies destroyed the American union movement and stole $51 trillion from working-class people, putting almost every penny of it into the money bins of the GOP’s morbidly rich patrons.

The MAGA Party (formerly known as Republican Party) serves the interests of their right-wing billionaire donors/owners. The sham SCOTUS is bought and paid for - corrupted by the insane amounts of legalized bribery available since the destructive democracy-killing Citizens United decision.  

Titanic mental shift

so, I’ve been thinking about all these memes and the back and forth about it and how they are funny/wrong. I don’t think anyone is excited people are going to die. I think people are, just shocked at the irony. People with the money to fix things, to help enact change are spending it, so they can die, facing the same problems as people in poverty. They are learning very quickly you can’t breath money. All those things rich people say… why aren’t they doing those things to fix their situation? Work harder, boot straps, positive thinking, etc…

So, you admit, sometimes it takes more than that?

People are dying every day from air pollution, from lack of clean water, from extreme temps, from starvation, and you paid hundreds of thousands of dollars just to experience the same thing? Just make better decisions. This is the pic that made it click for me, I don't think most people are laughing because this is hilarious. It is a cynicism that nothing will change, no matter how many billionaires die of poor people problems that they bought.

flight 2022 ✈️

🔑💰 The end of the gold standard in 1971 transformed the global financial system, giving rise to fiat money and central bank influence.

🌍💱 The shift sparked debates on the effects, from increased flexibility and financial innovations to rising income inequality.

📈💸 Understanding this pivotal moment is essential to navigating today's financial landscape.

Wealth Inequality and Market Failures: The Impact of the Ultra-Wealthy

The ultra-wealthy can contribute to market failures through various mechanisms, often associated with unequal distribution of resources, influence, and economic power. Here are some ways in which their actions can impact markets and contribute to market failures:

Monopoly and Market Power: Ultra-wealthy individuals or corporations may accumulate significant market power, leading to monopolistic or oligopolistic conditions. This concentration of power can stifle competition, limit consumer choices, and distort market dynamics, resulting in market failures by reducing efficiency and innovation.

Political Influence and Regulatory Capture: The ultra-wealthy often have substantial influence over political processes, including lobbying and campaign financing. This influence can lead to regulatory capture, where policies and regulations are crafted to benefit their interests rather than promoting fair competition and protecting the public. This can result in market failures by creating an uneven playing field and enabling anti-competitive practices.

Income Inequality: Extreme wealth concentration contributes to widening income inequality. High levels of income inequality can lead to market failures by reducing overall demand for goods and services, hindering social mobility, and creating economic instability. This can have detrimental effects on the functioning of markets and the overall economy.

Tax Avoidance and Evasion: Some ultra-wealthy individuals engage in aggressive tax avoidance or evasion strategies, leading to reduced government revenues. When the wealthy do not contribute their fair share of taxes, it can result in underfunded public services, infrastructure, and social programs. This can contribute to market failures by hindering economic development and exacerbating social disparities.

Speculation and Financial Instability: Ultra-wealthy individuals often engage in speculative activities in financial markets. Excessive speculation can lead to bubbles, market volatility, and financial instability. When these speculative activities are not properly regulated, they can contribute to market failures by creating economic bubbles that eventually burst, causing widespread damage.

Lack of Accountability: The ultra-wealthy may have the means to avoid accountability for their actions. This could involve unethical business practices, environmental degradation, or labor exploitation. The lack of accountability can lead to market failures by allowing harmful practices to persist without appropriate consequences.

Underinvestment in Public Goods: Ultra-wealthy individuals may prioritize private interests over public goods. This can result in underinvestment in critical areas such as education, healthcare, and infrastructure. The lack of investment in public goods can hinder long-term economic growth and contribute to market failures by impeding societal well-being.

It's important to note that not all wealthy individuals contribute to market failures, and many philanthropists actively work towards positive social and economic impact. However, when wealth concentration is accompanied by practices that undermine fair competition, social equity, and the functioning of markets, it can contribute to market failures and broader economic challenges.

Tell me about income and wealth disparity in America

I went to a panel tonight on Reimagining Public Health in NYC - A Discussion on the Racial and Wealth Gap and Health Equity

Me:

Can you write an essay about the connection between redlining, income and wealth gap, and health outcomes in the Black community? Highlight the disparity in maternal mortality race based upon race

ChatGPT:

The connection between redlining, income and wealth gap, and health outcomes in the Black community is multifaceted and complex. Redlining, a discriminatory practice that involves denying financial services or access to housing based on race, has had a significant impact on the economic wellbeing of Black families. This, in turn, has contributed to the widening income and wealth gap between Black and white households, which has led to disparities in health outcomes.

Redlining began in the 1930s and was a federal government policy that allowed banks and other financial institutions to deny loans and insurance to people living in certain neighborhoods. These neighborhoods were typically populated by Black families and other minorities, and the practice was based on the assumption that these communities were risky investments. As a result, these neighborhoods were deprived of essential resources such as quality education, healthcare, and healthy food options.

The legacy of redlining has contributed to the income and wealth gap between Black and white households. According to a study by the Brookings Institution, the median wealth of white households is ten times that of Black households. This disparity is largely due to historical and ongoing discrimination that has limited Black families' access to education, employment, and housing opportunities.

The income and wealth gap has had a profound impact on the health outcomes of the Black community. Black Americans have higher rates of chronic diseases such as diabetes, hypertension, and heart disease, which are often linked to poverty and limited access to healthcare. They are also more likely to die from these diseases than white Americans.

One area where the impact of these disparities is particularly stark is maternal mortality. According to the Centers for Disease Control and Prevention, Black women are three to four times more likely to die from pregnancy-related complications than white women. This disparity cannot be explained by differences in income or education level, as it persists across all socioeconomic levels.

There are several reasons for this disparity, including the fact that Black women are more likely to experience complications during pregnancy, such as hypertension and pre-eclampsia. They are also more likely to receive substandard care during pregnancy and childbirth, including being ignored or dismissed when they report symptoms of distress. Studies have shown that implicit bias and stereotypes about Black women's pain and abilities to cope with childbirth are also factors.

To address these disparities, it is essential to address the root causes of redlining, income and wealth gap, and implicit bias in healthcare. Policies and initiatives that promote equitable access to education, employment, and affordable housing are essential. Additionally, healthcare providers must receive training to recognize and address implicit biases that may affect their care of Black patients. Finally, Black women must be empowered to advocate for their health and hold healthcare providers accountable for providing high-quality care.

In conclusion, the connection between redlining, income and wealth gap, and health outcomes in the Black community is a complex and multi-layered issue. The legacy of redlining has contributed to the income and wealth gap between Black and white households, which, in turn, has led to disparities in health outcomes, including maternal mortality. Addressing these disparities will require a comprehensive approach that involves addressing the root causes of redlining, income and wealth gap, and implicit bias in healthcare.

Biden's Economic Policies: Hurting Small Businesses and Favors Big Corporations, Republican Criticism Grows #Bideneconomicpolicies #Bidenpoliciesfavorlargecorporations #BidenresponsetoCOVID19 #Bidenstimuluspackage #economiccontraction #governmentroleinpromotinggrowthandfairness #IncomeInequality #RepublicancriticismofBidenshandlingoftheeconomy #risinginflation #smallbusinesses #smallbusinessesstruggles #Trumpeconomicrecord

CEOs Make 100x More Than Workers: Unfair Pay Gap Hurts Everyone #CEOpay #IncomeInequality

An open letter to the U.S. Congress

Pass President Biden’s budget!

890 so far! Help us get to 1,000 signers!

At a time when working families are having trouble affording everything from healthcare to education to housing to food, we need a budget that lowers costs for millions of households―paid for by making the wealthy and big corporations pay their fair share.

President Biden’s FY2025 budget would expand the Child Tax Credit, expand Affordable Care Act subsidies to help millions of people afford healthcare in states that haven’t expanded Medicaid, invest in free pre-K for 2 million kids, implement a national paid family and medical leave program, provide free community college, expand Social Security’s modest benefits, and more.

It would also reduce the national debt by nearly $3 trillion.

He does this by raising the corporate tax rate, implementing a 25% tax on the wealth gains of billionaires and ultra-millionaires, ending tax breaks for excessive CEO pay, closing loopholes that encourage corporations to ship jobs and profits offshore, and much more.

I urge Congress to pass President Biden’s FY2025 budget to invest in working people and our future. By wide margins, the American people think that the wealthy and large profitable corporations should pay more of their fair share in taxes. So endorsing the president’s budget is not only good policy, it’s good politics. Thanks!

▶ Created on March 15 by Jess Craven

📱 Text SIGN PULPMC to 50409

🤯 Liked it? Text FOLLOW JESSCRAVEN101 to 50409

People want to attain the “American Dream”...a dream that’s history for a vast majority of Americans.  When a family with two incomes can’t afford a decent home, there’s something very wrong.  

In the 1970′s a family of six - father, mother and four children - could afford a three bedroom home with only the husband working.  I’m referring to my family and my Dad was a carpenter who also was - guess what - a card-carrying labor union member.

In 1981, Republican President Ronald Reagan fired 11,000 (insane right?) striking air traffic controllers. Replacements from the military, retired air traffic controllers and others crossed the picket lines (labeled “scabs” by union workers).  

Republicans, greedy businesses and corporate interests began a smear campaign against unions and union labor. They used Reagan’s union busting tactics as an opportunity to spread propaganda and lies to convince Americans that all union workers were selfish and overpaid and the union “bosses” were corrupt.  Not long after, if union workers went on strike, businesses and corporations brought in scabs to replace them.  This crippled the unions by taking away their bargaining power.    

And thus began the destruction of the middle class and the American Dream.  There was a gigantic sucking sound as all the profits and wealth got siphoned off to those at the top and it’s been going for over forty years.  

That’s how we all got fucked by the Republicans and the capitalist pigs who to this day still own them.  

Navigating the Maze: How Taxation Shapes the Landscape of Income Inequality 📊💸

Hey Tumblr thinkers! 🌈✨ Let's take a journey into the world of taxation and its profound impact on income inequality. 🚀💰

🔍 Breaking it Down: Taxation isn't just about funding government programs; it's a powerful tool that can either bridge or widen the gap between the haves and the have-nots. 🤔💡

💼 Tax Policies & Wealth Distribution: Different tax policies can either promote economic equality or contribute to a growing wealth divide. Ever wondered how progressive or regressive tax systems influence who bears the financial burden?

💸 The Role of Social Programs: Explore how tax revenues fund social programs that aim to uplift the less fortunate. From healthcare to education, taxes play a vital role in creating a safety net that reduces income inequality.

🌐 Global Perspectives: Take a peek at how tax policies vary globally and their implications on income distribution. Are some countries getting it right in the battle against inequality?

🔄 Cycles of Inequality: Dive into the cyclical relationship between taxation, public spending, and income inequality. How can breaking this cycle create a more just and equitable society?

🌟 The Call for Reform: Discuss the ongoing debates surrounding tax reform and its potential to reshape economic landscapes. Can progressive tax policies pave the way for a fairer future?

💬 Join the Conversation: What are your thoughts on the impact of taxation on income inequality? Share your insights, questions, and opinions in the comments! Let's keep the dialogue flowing. 💬🌍

Widening income inequality in India and its impact on the rural economy 13 Nov 2023

भारत में, सबसे धनी 1% आबादी देश की कुल आय का लगभग 22% दावा करती है, जबकि निचले 50% को केवल 13% प्राप्त होता है। इसके अलावा, ग्रामीण भारत में आर्थिक मंदी के चिंताजनक संकेत हैं, जिन्हें वित्त मंत्रालय द्वारा अक्टूबर के लिए जारी नवीनतम मासिक आर्थिक रिपोर्ट में हल्के में लिया गया है। वित्त ��ंत्रालय की सबसे हालिया मासिक आर्थिक रिपोर्ट, जो अक्टूबर में प्रकाशित हुई थी, ने "मजबूत निजी मांग और खपत" के कारण भारत के विकास की संभावनाओं को "मजबूत" बताया। इसने चालू वित्त वर्ष के लिए लगभग 6.5% की जीडीपी वृद्धि का अनुमान लगाया और जीएसटी (वस्तु और सेवा कर) संग्रह और रिकॉर्ड-ब्रेकिंग कार बिक्री के संबंध में सकारात्मक समाचार भी बताया।

हालांकि, सतह के नीचे, रिपोर्ट चिंताजनक रुझानों को प्रकट करती है। इस स्पष्ट "विकास" कहानी का एक बड़ा हिस्सा ऊपरी-मध्यम-आय वर्ग और उससे ऊपर के वर्गों द्वारा संचालित किया जा रहा है। ग्रामीण भारत में मंदी के स्पष्ट संकेत हैं, और यहां तक ​​कि शहरी वेतनभोगी कार्यबल के कुछ वर्ग भी आर्थिक चुनौतियों का सामना कर रहे हैं।

भारत की जीडीपी

भारत में चकाचौंधपूर्ण आय असमानता करोड़पतियों की संख्या में उल्लेखनीय वृद्धि से स्पष्ट है, जिसके 2026 तक दोगुना होने की उम्मीद है। यह ग्रामीण बाजारों में मजदूरी और खपत में ठहराव के साथ हो रहा है। भारत के पूर्व मुख्य आर्थिक सलाहकार प्रसिद्ध अर्थशास्त्री कौशिक बसु ने इस मुद्दे को हल करने की तात्कालिकता पर जोर दिया है, जिसमें कहा गया है कि "भारत की जीडीपी अच्छी तरह से बढ़ रही है, लेकिन यह सब शीर्ष पर जा रही है।" विश्व असमानता रिपोर्ट 2022 दुनिया के सबसे असमान देशों में से एक के रूप में भारत की स्थिति को रेखांकित करती है। यह परेशान करने वाली असमानता धनी और गरीब के बीच आय अंतर में परिलक्षित होती है, जो COVID-19 महामारी के प्रकोप के बाद से काफी बढ़ गया है। रिपोर्ट से पता चलता है कि देश में शीर्ष 10% आय अर्जक वर्तमान में निचले 50% की तुलना में 20 गुना अधिक आय अर्जित करते हैं। इससे भी अधिक परेशान करने वाली बात है कि भारत का सबसे धनी 1% देश की कुल आय का लगभग 22% प्राप्त करता है, जिससे निचले 50% को केवल 13% ही मिल पाता है। ऑटोमोटिव और रियल एस्टेट क्षेत्र महत्वपूर्ण मांग असमानताओं को प्रदर्शित करते हैं। जबकि रिकॉर्ड कार बिक्री हुई है, एक करीबी परीक्षा से पता चलता है कि ये बिक्री मुख्य रूप से एसयूवी और लगभग 10 लाख रुपये और उससे अधिक की कीमत वाली कारों से प्रेरित है। इसके विपरीत, दोपहिया बाजार में बिक्री में समान उछाल नहीं आया है और अभी तक महामारी से पहले के स्तर पर नहीं पहुंच पाया है। दोपहिया बिक्री में ठहराव का सबसे स्पष्ट प्रभाव एंट्री-लेवल मोटरसाइकिल सेगमेंट में देखा जाता है, जो दर्शाता है कि ग्रामीण उपभोक्ता खरीद निर्णय लेने में सतर्क हैं। यही प्रवृत्ति एंट्री-लेवल हैचबैक कार बाजार में देखी जाती है। Latest News Read Here Read the full article

Video: Wealth Inequality in Canada

The video examines #wealthinequality and #incomeinequality in #Canada. The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada. Visit: http://www.canadianmoneytalk.caThe Advanced Investing: Stock Analysis Course is at http://canadianmoneytalk.ca/advanced-investing-stock-analysis-course/The Investing & Personal Finance Basics course is at…

View On WordPress

Struggling Americans: Media's Misleading Economy Tale #economy #financialstruggles #healthcareaffordability #IncomeInequality #mediabias

Job Losses and Higher Costs: Pizza Hut Layoffs Spark Debate Over California's New Minimum Wage Law #basicnecessities #businessinterests #California #CaliforniaPizzaHutfranchises #deliverydrivers #economy #employment #food #GovernorGavinNewsom #healthcare #holidayseason #Housing #IncomeInequality #increasedcosts #joblosses #laborcosts #layoffsofdeliverydrivers #livingwage #lowwageworkers #minimumwageincrease #minimumwagelaw #newminimumwagelaw #PizzaHut #PizzaHutfranchiseowner #supporters #workeradvocates