Monday, October 25, 2010

Inequality links 10/25/2010

Income Inequality Linked to Senate Standoffs – Miller McCune
The United States of Inequality – really nice series from Slate available as a downloadable pdf.
Rich Mom, Poor Mom – Economix
15 Mind-Blowing Facts About Wealth And Inequality In America – businessinsider

Compassion makes for good macroeconomics today, even as the Republicans and Tea Partiers harden their hearts to the damage being done to the poor and unemployed.  Raising marginal tax rates on the rich (top 1 percent) and “stinking rich” (as the Slate author terms the top 0.1 percent)—that is, taxing only the portion of their incomes over, say, $300,000 a year—and using the money to fund humanitarian income assistance to the unemployed and their children would put more money into the spending stream than any other fiscal policy measure, as our economy sinks into depression.

Some would say America is already a hollowed-out state, gutted by money interests, powerless to effect such a social contract.  I hope they are wrong.

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