income redistribution Archives

¡Yay, Miami es Numero-Uno!

October 7, 2016October 17, 2016 Buck Banks

Having just dodged the first major hurricane to hit Florida in more than a decade, Miami, it would appear, has something else to celebrate. Or not.

According to Bloomberg, Miami is now the most unequal city in the United States, having leapfrogged five ranks in just a year to reach the top. Yay! We have greater income disparity than anybody!

Bloomberg ordered large cities – those with populations of at least 250,000 – based on the Gini coefficient. The index measures the distribution of household income using 2015 data from the U.S. Census Bureau’s American Community Survey. The ratio ranges from zero, which reflects absolute equality, to one, complete inequality. Miami took the top spot in 2016 with a coefficient of .58, followed by Atlanta and New Orleans.

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Income Inequality Shaping Up to Be a Real Issue in 2016

June 4, 2015 Buck Banks

6 in 10

Americans said government should do more to reduce the gap between the rich and the poor, but they split sharply along partisan lines, a new New York Times/CBS News poll finds. “Only one-third of Republicans supported a more active government role, versus eight in 10 of Democrats.”A Americans “are broadly concerned about inequality of wealth and income despite an economy that has improved by most measures, a sentiment that is already driving the 2016 presidential contest.”

The Rich are Getting Richer and the Poor are Getting Screwed

April 29, 2013 Buck Banks

28%

Amount the mean net worth of households in the upper 7% of the wealth distribution rose, while the mean net worth of households in the lower 93% dropped by 4%, from 2009 to 2011, as the economy began to emerge from the financial crisis, a new Pew Social Trends report finds.

The unemployed don’t know how they’ll pay the rent
And wage-earners wonder where their paycheck just went.
While economic stagnation
Keeps a grip on the nation,
Corporations’ profits are up a tidy 88 percent!

Tag: income redistribution

¡Yay, Miami es Numero-Uno!

Income Inequality Shaping Up to Be a Real Issue in 2016

6 in 10

The Rich are Getting Richer and the Poor are Getting Screwed

28%

Amount the mean net worth of households in the upper 7% of the wealth distribution rose, while the mean net worth of households in the lower 93% dropped by 4%, from 2009 to 2011, as the economy began to emerge from the financial crisis, a new Pew Social Trends report finds.

Losses and Profits

Poetic Justice

Verbatim

“He is the most dangerous person ever. I had suspicions when I talked to you about his mental decline and so forth, but now I realize he’s a total fascist. He is now the most dangerous person to this country. A fascist to the core.”

– Gen. Mark Milley, former Joint Chief of Staff under both Trump and Pres. Biden, quoted in veteran investigative reporter Bob Woodward’s book, War.

“Yes they can control the weather. It’s ridiculous for anyone to lie and say it can’t be done.”

— Rep. Marjorie Taylor Greene (R-GA), accusing Democrats of creating Hurricane Helene for political purposes.

“Liberty in Georgia includes in its meaning, in its protections, and in its bundle of rights the power of a woman to control her own body, to decide what happens to it and in it, and to reject state interference with her healthcare choices.”

— Fulton County Superior Court Judge Robert McBurney finding that Georgia’s six-week abortion law violates Georgia’s Constitution, reports the AP.

“Maybe we’ll pay off the $35 trillion US debt in crypto. I’ll write on a little piece of paper ‘$35 trillion crypto we have no debt.’ That’s what I like.”

— Donald Trump, floating a plan to address the federal budget deficit and demonstrating his deep understanding of the crypto marketplace.

“To my friends in Nebraska, that one electoral vote could be the difference between Harris being president and not, and she’s a disaster for Nebraska and the world.”

— Sen. Lindsey Graham (R-SC), quoted by Politico, on his trip to Nebraska to push for the state’s Republican leadership to change how it awards its electoral votes.

Numerati

49% to 46%

Latest results from the New York Times-Siena College poll giving Vice Pres. Kamala Harris a 3-point lead over Donald Trump. This is a noteworthy change in the NYT poll results that have generally favored Trump while other reputable pollsters have favored Harris.

254,000

“The pace of hiring picked up strongly in September and the unemployment rate ticked down to 4.1%, signs the economy had continued momentum in a month the Federal Reserve delivered its first interest-rate cut in four years,” the Wall Street Journal reports.

49% to 44%

A new Susquehanna poll finds Kamala Harris leading Donald Trump nationally among likely voters, 49% to 44%.

40 trillion

$55 million

Kamala Harris raised about $55 million in high-dollar events in California this weekend, a haul that pads her financial advantage over Donald Trump, Bloomberg reports.