Category: Wealth

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Domestic Policies News Politics Wealth

On Wealth, Inequality Rules

So I’m perusing through the news and I see this article about a Pew Research study on median wealth in the United States and how the Great Recession impacted household worth.

It is a stunning indictment of our fiscal, social and moral progress as a nation. If there’s anyone out there who needs a basic primer on why we are facing some months of unrest, then they need to take a look at this. What’s happened is that the wealth of white households has grown to 13 times that of African-American households since the end of the recession. In 2010, the gap was 8 times the wealth. For Hispanic households, the gap between their wealth and whites grew to 10 times the wealth, from 9 times in 2010.

In plain numbers, the results are even more shocking. In 2013, the median net worth of white households, which includes real estate, savings, stocks, bonds, etc., was $141,900, while that of African-Americans was $11,000, and the Hispanic household average was $13,700.

Linger over those numbers. How is it that we can address any kind of racial, ethnic or economic tensions when large groups of people in the United States have so little and fewer opportunities than whites to avail themselves of large parts of American society? These numbers are not well-publicized at all, but they need to be. Send them around social media. Put them on a poster. Talk to your friends.

But do something.

For more, go to www.facebook.com/WhereDemocracyLives or Twitter @rigrundfest

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Herman Cain sexually harassment Wealth

Herman Cain Iz A Playa

Herman Cain must think he’s a Playa From The Himalaya! And if not a playa, then he’s definitely spreading the wealth around… his personal wealth that is, not talking about his finances.

POLITICO reports:

During Herman Cain’s tenure as the head of the National Restaurant Association in the 1990s, at least two female employees complained to colleagues and senior association officials about inappropriate behavior by Cain, ultimately leaving their jobs at the trade group, multiple sources confirm to POLITICO.

The women complained of sexually suggestive behavior by Cain that made them angry and uncomfortable, the sources said, and they signed agreements with the restaurant group that gave them financial payouts to leave the association. The agreements also included language that bars the women from talking about their departures.

 

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Politics Republican Republican Congress Wealth

Billionaire Warren Buffett says “I Should Be Paying More Taxes”

Billionaire Warren Buffett’s message to Republicans and President Obama – “I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”

Mr. Buffett, Chairman and CEO of Berkshire Hathaway appeared on ABC’s This Week with host Christiane Amanpour and spoke about the Bush Tax Cuts and the Republicans claim that the rich need tax cuts to provide jobs for the middle class.

Mrs. Amanpour stated the republican claim that, “you have to keep those tax cuts, even on the very wealthy, because that is what energizes business and capitalism,” but the billionaire CEO shut down that Republican talking point with some first-hand knowledge, saying;

The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on.

The American people are catching on but so far, no luck with the Republican in Congress. These Congressional Republicans – who are themselves millionaires and make up about 44 percent of Congress – are still demanding that rich folks like Warren Buffett get more tax-cuts for “job creation.” And these Congressional millionaires will not compromise on this position.

See the video below.

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