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Bye, Bye American Dream! U.S. Economic Inequality Is Permanent, Study Finds

Business  (tags: economy, americans, society, politics, news, Ameican Dream, corporate, consumers, money )

- 1890 days ago -
Analysis of two decades of income tax trends also find the rich consume more.

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Teresa W (782)
Friday March 22, 2013, 3:12 pm
sadly noted

Mike H (252)
Friday March 22, 2013, 3:42 pm
I am witnessing the decline of my country in my lifetime.

lee e (114)
Friday March 22, 2013, 4:00 pm
This is shocking, but not a surprise (whih is even more shocking!) my heart grieves that my daughter has to attempt to survive this mess, I'm not so concerned about my son - who, although has a law degree is an entrpreneur in the sloar fied, and his wife is an MD -- I assume they'll get by,
I suppose the US citizens will be forced to flee from its shores to become immigrants in another country that might provide a better hop! Will it be Mexico?

. (0)
Friday March 22, 2013, 7:10 pm
Great article. Gives you a lot to think about.

Jason S (50)
Friday March 22, 2013, 7:16 pm
The America dream always was just a dream when you are sleeping, Good posting, thanks

Alexandra Rodda (180)
Friday March 22, 2013, 8:17 pm
Surprise, surprise! I think not!

Billie C (2)
Friday March 22, 2013, 8:56 pm
it's never been equal

Past Member (0)
Friday March 22, 2013, 9:16 pm
Imagine, if you will, an episode of, say, "Downton Abbey" in which only 1 person is a "master" upstairs, and 99 people slavishly work downstairs to provide all the care and luxuries for that 1 person. Welcome to America, where the 1% enjoy the best of everything while the rest of us work ourselves into the dirt.

Freya H (357)
Friday March 22, 2013, 9:19 pm
This will really get socialists stirred up. It is a shame to see people abuse capitalism. True capitalism does not make a handful rich and the masses poor - it makes everybody prosper.

Jason S (50)
Friday March 22, 2013, 9:33 pm
Capitalism depends on unlimited growth but earth's resources are limited, so their can't unlimited growth and no one person can own the earth it all for us to share. The Indians don't have capitalism and there did just fine unit the white name show with his greed and take the land for them in most case.

Jason S (50)
Friday March 22, 2013, 9:41 pm
Time think of world as one, Imagine - John Lennon

S M (0)
Saturday March 23, 2013, 10:36 am
This won't just be USA it'll be all the Western world ... where corporate power rules the roost.

The UK government keeps being told the gap gets even wider. They feign surprise when different tax loopholes are pointed out, bluster that they will close it .... do little then warble about UK must not discourage bankers and business. The reality is that the general public would be glad to see the back of most senior bankers and business that cheats us of our taxes is not doing UK any favours ....

The other day it found out that some Big Businesses are making up their payrolls off shore which allows them to save money and not pay their share UKs National Insurance scheme, - that pays into central Coffers for NHS, Police pay, Civil Service pay ... which includes our Armed Forces that business is relying on keeping Terrorism under control worldwide. I haven't yet heard of a News item telling those accountants and CEOs in jail yet. .... but someone poorly paid, that didn't pay their parking fine will be doing Penal Community Service.

Jeremy S (3)
Saturday March 23, 2013, 1:42 pm
Is anyone really surprised the rich have all the advantages in this world? That CEOs and Big Business execs get when they want, never mind the little people they have to step on in the process? As Sarah Mumford said above, the rich and the corporations are being treated far better than the less affluent individuals these days -- and this is a situation which must end! For the good of the human race, as well as the other species on this increasingly crowded planet.

Mary Donnelly (47)
Saturday March 23, 2013, 1:48 pm
Thanks Cal.

Donna W (0)
Saturday March 23, 2013, 2:18 pm
This is of great concern to me as a retired person, and as a mother of grown children and a grandmother. It looks as if my offspring will not have as good a life as I have had, and I'm not sure what I could do to better their prospects. "Working harder" is certainly not the answer. I read recently that if the minimum wage of the 1960s had kept up with inflation and the growth of wealth at the top, it would now be around $22 per hour. I bet there are a lot of people who WISH they made $22 an hour!

Greg K (1)
Saturday March 23, 2013, 3:05 pm
Actually the one thing I am sure of is that this level of economic inequality will not last. The powerful monied interests greed knows no bounds. The amount of suffering people will tolerate before they refuse to cooperate with impoverished serfdom does have a limit. Bringing this conflict to a head is very dangerous but the wealthy are on a full bore offensive. The curse of 'interesting times' is upon us.

Lois Jordan (63)
Saturday March 23, 2013, 3:24 pm
Thanks, Cal. I truly hope the conclusions of this study find their way into the media, and that citizens respond with calls and mails to their Congress critters. There has been some movement by some members of Congress to address these crucial issues.

H.J.Res. 29- "We the People Amendment" was introduced by Reps. Rick Nolan & Mark Pocan, and is beautifully simple. Section 1: Only people have constitutional rights. Section 2: Money Is Not Free Speech.

"The Democracy is for People Amendment" introduced by Sen. Bernie Sanders & Rep. Ted Deutch.
The "Back to Work Budget," which got little, if any, media coverage--was so sensible in protecting those who need it most, while bringing down the deficit.
It sure hasn't helped that the FDIC, when it settled with the banks, lost $92.5 Billion in the failures of 471 US banks since 2007. It's collected only $787 Million...a tiny fraction.
Then we have 6 Dems who joined with Reps to VOTE DOWN raising the minimum wage to $10.10 by 2015. This was a last minute amendment to the SKILLS Act, authorizing a jobs training program. Those Dems were: Barrow, Matheson, Owens, Peterson, Schrader, & McIntyre. Among Dems who didn't even vote were: Schakowsky, Markey, & Dingel.
The GOP moans and wails about the deficit. Well, it's mostly THEIR deficit from the wars they started. $60 Billion went to Iraq Reconstruction Projects--that's $15 Million per day. $108 Million was spent on a wastewater treatment center in Falluja that will finish 8 yrs. late and provide service to only 9000 homes.

We live in an Empire, where the American Dream has become a nightmare--corrupted by money buying our publicly elected officials. They've permeated every American industry to the point of fascism. Members of Congress should wear "NASCAR-type" vests wearing the decals of their corporate supporters. Very few have any true respect left for their constituents....unless they're funding their coffers with MegaBucks. All we have left are our voices, combined collectively to speak truth to power and do our best to try to shame them. They've gone way too far off track when they care nothing about just leaving people their dignity.

Birgit W (160)
Saturday March 23, 2013, 3:29 pm
Unfortunately I am not even surprised. Shame!

Nancy M (197)
Saturday March 23, 2013, 4:09 pm
I am not surprised. Nice that someone has finally documented this.

Theodore Shayne (56)
Saturday March 23, 2013, 4:42 pm
Noted & posted. We all know what needs to be done in order to bring about change but the politicians and legislators won't go along with it.

Winn A (179)
Saturday March 23, 2013, 6:35 pm
sad findings

tiffany t (142)
Saturday March 23, 2013, 8:48 pm
just now noticing?

reft h (66)
Saturday March 23, 2013, 11:42 pm
I'm glad someone put in writing what we basically already knew...
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