Tag Archives | income disparity

Baby, you’re a rich man. Income disparity worldwide

Jesus said it would be hard for the rich to enter the kingdom of heaven. But that’s the billionaires, right, surely not us?

DJ, ever the statistician and who has lived in third world countries for extended periods, crunches the income numbers worldwide and finds that, well, if you’re reading this blog, you’re unquestionably part of a tiny global elite in terms of income.

If your household wealth is above $61,000 per adult, if your household income is more than $29,840 per year, if you own a car – you are rich, one of the privileged few in the world. And yes, I am one too.

Ok then, so where’s my mansion and jet????

On income disparity and social unrest

Teamster strike. 1934

Is the US a hedge fund republic, asks Nicholas Kristok at the NY Times, given our huge and growing disparities of wealth.

I see members of Congress in my own country who argue that it would be financially reckless to extend unemployment benefits during a terrible recession, yet they insist on granting $370,000 tax breaks to the richest Americans. I don’t know if that makes us a banana republic or a hedge fund republic, but it’s not healthy in any republic.

Obama and Congress are part of the problem, not part of the solution. Their policies without fail, favor the already wealthy to the detriment of the rest of us.

FDR wasn’t FDR … until his hand was forced by civil disobedience

Progressives are disappointed that – contrary to the hype – Obama is no FDR.

But FDR himself wasn’t who we think of as FDR until he was forced by protests, strikes and other forms of civil disobedience.

FDR came from the upper class and some of his class thought him a traitor. But the truth is, he probably saved him. There was serious unrest in the US in the 1930’s. FDR created the modern welfare state and created massive numbers of jobs and defused the anger.

We should be emulating the protest energy of the Tea Party, because we have to raise some hell before anything will change.

In fact, as I’ve repeatedly noted, the whole left-versus-right thing is just a distraction trick. It’s really the American people versus the giant bankers, captains of the military-industrial complex, and handful of others who are benefiting by shafting the average American.

So lefties, are we gonna let the Tea Party have all the fun????