This might be worth digging into further. DCJ is thorough and finds the most telling pieces of financial data so if he's writing about it, it's worth looking at. He's awesome.
By David Cay Johnston
"Each of the top 400 paid tax at the same rate as a single worker making $80,000 in 2010 ... These figures from an IRS report released Friday show how much government policy has helped those at the top amass even larger fortunes thanks to lower tax rates. It also shows how far the United States has moved away from the ancient principle of progressive taxation ... The annual top 400 report by the IRS significantly understates incomes at the very top in America because Congress lets some people defer reporting their income — and therefore paying their taxes — for years or even decades. These deferrals are the equivalent of a zero interest loan from the government of the amount of tax deferred. Several dozen Americans, disclosure documents show, earn annual incomes of $1 billion or more. But they do not show up in the top 400 reports because Congress does not require them to report their full incomes or pay taxes immediately. For cash to live on these people typically borrow against their assets, paying interest rates of 2 percent or less."
Unfortunately good mathematics goes out the window when it comes to immigration. The EPI is funded by labor unions and for God knows why, they want to unionize the illegals and thus push for amnesty.
So, this is full of it, not worth posting. It is so frustrating to see statistics, labor economics perverted for political purposes.
roblem is most of the GOP is bought and paid for and wants cheap labor globalization, outsourcing just as much as Dems do.
Both parties abandon the U.S. worker per their corporate donor demands.
- Reply to: Industrial Production October Ho-Hum, Capacity Utilization Still Stunted
The author believes that the Democrats have a strategy to marginalize Elizabeth Warren to better promote Hillary Clinton; but that Rand Paul might run to beat Clinton in 2016 — and to the dismay of the more neo-conservatives. (And then maybe the new Congress might obstruct Rand Paul the same way they did Obama.)
"The Huffington Post published an article detailing how the Democrat establishment had already made its move to cleverly neuter Warren by giving her more power within the Senate. For example:
'Throughout Senate history, individual members have often steered away from leadership positions, worried that the horse-trading and consensus-gathering that leadership involves would neuter their power. But the Senate has been evolving in recent years into a much more leadership-driven institution, in which individual senators and even chairmen have less power than they once did compared to caucus leadership. Today, decisions that would have been made in side negotiations, in committee or on the floor are instead made by leadership ... It’s those meetings that Warren will now be a part of. At the same time, she will diminish her ability to maintain that inside position if she criticizes the party from the outside. That dilemma, however, has been with her every step of her career, as she has moved closer to the center of power.'
We’ll see how this turns out, but it looks to me that the Democrats are giving her [Warren] a sense of importance so she 'plays ball'. Particularly when it comes to 2016."
Obama’s Executive Action on Immigration Will Improve the Wages and Working Conditions of Unauthorized Immigrants and U.S.-Born Workers Alike
She has to, especially in that God forsaken corporate bought and paid for institution. if she doesn't, she'll get very little for her state.
Bernie Sanders is a good example of how to play ball and not lose one's integrity but even he has made some outrageous votes in the last few years.
Jared Bernstein (Joe Biden's former economic adviser) writes: The economic shampoo cycle (bubble, bust, repeat) is underway. He mentions that there was a hostile takeover bid by a hedge fund. The deal fell apart, but the hedge fund still walked away with over $2 billion in profit.
He leaves these two links:
New York Times (Nov. 17, 2014): Ackman Has Luck of a Loser, to the Tune of $2.2 Billion
New York Times (Nov. 17, 2014): One of the biggest booms ever in mergers and acquisitions is currently underway (billions spent on buying other companies instead of raising wages).
None of those presidents has ever abused their media control to blast individuals in congress. Imagine what would happen with a tattletale president moaning about whoever for whatever reason.
"Dear American people, such and such hates how good your life is, and wants more money. Such and such thinks you shouldn't have the right to choose anything for yourself, blah blah blah."EPer: Bro (not verified)
Most interesting in that states where raising the minimum wage was on the ballot it passed with flying colors while they voted in GOP who reject minimum wage. Super blue Oregon voted almost 80% against illegals getting driver's licenses yet voted in an obviously corrupt liberal governor.
What I get out of this is people do not want what Obama keeps pushing but they don't want what the GOP keeps pushing either. In other words, if we had true representation, instead of corporate money pushing and saturating the airwaves so instead of elections we get mass psychology manipulation hysteria.
The core problem, IMO, that Americans are facing is the way wages are dropping relative to productivity- http://politicsthatwork.com/graphs/wages-as-a-percentage-of-productivity
There are two main things eating up the rest of the productivity: employer profit taking and the cost of benefits-http://politicsthatwork.com/graphs/division-of-productivity
Only the Democrats can even talk about either of those things and they have a whole laundry list of ways to solve each of them. They just need to put that message out there to the people loudly and clearly.
Same problem with H1B, both parties love it, yet half my friends that I graduated with in CSC can't find jobs because employers are unwilling to train junior level developers if they can get workers from overseas for cheap...I wish I had majored in something other than STEM.EPer: David Smith (not verified)
Thanks for writing this,
a hundred years ago we would have revolted till death,
today they will take until we are all dead.
Did you know USA has the largest active mass grave.
Every major city in this country has millions burnt and thrown in a pit together.
They are called homeless and its what happens when you cant afford to work in America anymore
you die outside in the streets, you get robbed of id and you at end a john doe
at the city morgue being cooked in mass grave with millions of others in the city.
Over ten million a year. That would make the USA the largest mass grave in the history of mankind.
You want to know where the poor end up? In a mass grave, burnt by the federal government.
Weird how the poor disappear every season after sleeping outside in the snow.
Nobody cares where they go cause the all die outside as john/jane does. Millions!EPer: Mara (not verified)
- Reply to: American Workers Put Last in Obama's Amnesty
I couldn't help but laugh at the part of your article that reads:
"But the citizens of this country still hold the power, and through their voice, they can turn the country right-side up again."
And just who the hell are we supposed to vote for... Mickey Mouse and Donald Duck???EPer: peteman (not verified)
The Weariness Index is easy to define. If CPI is an honest (?) price index (i.e. dollars per basket), and MOI is the mean of the inverse hourly wages or of the inverse yearly salary of a full-time worker (i.e. hours per dollar), then WearinessIndex = index(CPI*MOI) = index(CPI/(harmonic mean of wages)). Thus it is an index of mean hours worked to earn the basket.
I estimated this years ago based on very crude data from 1971 to 1986, and it had increased (gotten worse) 13% over that period. The Weariness Index is a universal sum, in the sense that it indexes an approximation to the total of something (the hours worked by everyone to earn their baskets). Thus it is like mean income (everybody's earnings) and CPI (everybody's cost of the basket), but not median income, which is insensitive to something happening to less than 50% of the workers. My index was sensitive to the felt economic disaster of the end of the 1970s.EPer: LarryDickson
Ok, but even in very too the left liberal la la land we smoke pot and it's legal law Oregon voted something like 77% no on driver's licenses for illegals. Pretty obvious who controls even the dialog. No matter what happens you can bet that the U.S. worker will lose on anything passed since cheap labor is such a huge part of this and they write in cheap labor into every bill "amnesty o no".
My comment was more or less wishful thinking (I didn't necessarily mean anything was "true").
This immigration debate has been raging for years, and I haven't seen either party address it in any meaningful way. So what is the answer?
NBC’s “Saturday Night Live” depicted a bourbon summit between President Obama and future Senate Majority Leader Mitch McConnell (R-KY) where the two get massively drunk.
McConnell warns Obama about his planned executive action on immigration, but when Obama asks whether he has a plan, McConnell insists Republicans will pass immigration reform. The two then burst out laughing at this suggestion.
This simply isn't true, especially on guest workers. It will FLOOD the U.S. market with already so many talented U.S. workers displaced and now either out of work or significantly underemployed.
Driver's licenses have been proved to be used for identity theft. That is why Oregon stopped giving illegals driver's licenses, they had a flood of identity theft going on.
Please don't bring the Obama kool-aid here. This is just the same ole special interests and corporate big money wanting their massive cheap labor supply, open border nonsense. It DOES displace U.S. workers and repress wages, and flooding the labor supply, legal or not, does the same thing. There is no high demand for labor, the U.S. cannot absorb millions of workers and all that is happening is Americans are out of a job.
Ya know meatpacking used to be a union, good job? Now it is minimum wage almost, all done by use of illegal labor. List goes on and on.
The source of all of this is the SSA, the same link at the top of the post. I believe you can go back years on their site but the result is in HTML, so you must convert.
Also, I calculate much of this from the original data published by SSA, but the two you are looking for are on their site, top link. Let us see your weariness index! I think America is pretty weary!