The Right and the Very Wrong about Wall Street report on Income Inequality

The Secular Jurist

By Robert A. Vella

Since the 2008 financial crisis, which has hurt middle class prosperity so profoundly, Wall Street has been slowly coming to the conclusion that wealth and income inequality is retarding economic growth and recovery from the Great Recession.  Most objectively-minded economists not only realized this specific result years ago, but have been studying the macroeconomic phenomenon of aggregate demand for many decades.  Simply put, the larger economy suffers when the bulk of ordinary workers and consumers have reduced buying potential.

New analysis from the rating agency Standard & Poor’s is giving Wall Street further information on this serious problem:

Economic disparities appear to be reaching extremes that “need to be watched because they’re damaging to growth,” said Beth Ann Bovino, chief U.S. economist at S&P.

The rising concentration of income among the top 1 percent of earners has contributed to S&P’s cutting its growth estimates for…

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The Truth About the American Tax System

Photo courtesy of 401kcalculator.org

Photo courtesy of 401kcalculator.org

 

If you live in the US, you are bound to come across countless individuals who just can’t stop complaining about taxes. “We’re taxed too much,” they say. “They practically take my whole pay check!” they cry. “Why should I have to pay more taxes just because I make more?” they whine.

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World’s First Internet Tax Haven Database Now Open For Business

League of Bloggers For a Better World

by Jerry Alatalo

“Taxation without representation is tyranny.”

– James Otis (1725-1783) 

Earth 444Looking to find out if a particular world politician or transnational corporation, a particular business tycoon or Hollywood icon, or your local drug smuggler is using a tax haven? Perhaps you just have a hunch about a person, or persons, or company – that they are probably using a secretive tax scheme to hide money from their government to avoid paying their share of taxes.

Now you have an internet website with a tax haven database to search/check for yourself.

The International Consortium of Investigative Journalists (icij.org) has established a place for any man or woman in the world to go for information on tax havens, where users are able to search by nation, corporation, or individual. This is an historic accomplishment that holds out great promise for the people of the world. Why? Because, as ICIJ’s Gerald Rye points out in the…

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The Conservative Robinhood?

YAHOO THOM

The Conservative Robinhood?

Stealing from the American Middle Class to give to the 1%…

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