Wealth inequality in the United States is much worse than people think. There is a thin line between the collective earnings of the lower-middle class and poor, while the gap between them and the ridiculously rich is a shocking shame.
A videographer working under the name "Politizane" illustrated this in a video posted to YouTube called "Wealth Inequality in America" in which he features the results of a poll conducted by a Harvard business professor and economist that asked 5,000 Americans how they thought wealth was distributed in the country.
The graphic above illustrates the disparity between what people think the distribution of wealth is, what they believe it should should be like and what actually exists. more >>
Today's economic situation has hit my billfold…what about yours? With gas prices soaring and paychecks diminishing, I have been wondering; who has been eating my piece of the American pie?
Everyone may be experiencing tough economic times, but as usual, these struggles hit some harder than others. According to the most recent numbers released by the Bureau of Labor Statistics, the unemployment rate for African Americans remains a shocking 13 percent, while black homeownership is at its lowest in almost 20 years. The black unemployment rate in America remains twice that of whites, and nearly three times that of Asians.
As with any bad news, there is plenty of blame to go around. But a far more important question to ask is what can be done to improve the situation now. I believe one answer is a return to the strong, often unsung tradition of black entrepreneurship. When we think of minority owned businesses these days, we tend to picture immigrants, usually Latino or Asian. This perception reflects our current reality: according to a 2008 study Race and Entrepreneurial Success by the University of California Santa Cruz, the rate of black business ownership is far lower than the national average. more >>
Welcome to the Liberals' version of the Hunger Games, America; unapologetically brought to you by our Progressive friends in the Democrat Party, whose economic policies have lifted a record number of Americans from the middle class and plopped them face down -- into poverty the past five years.
I know. This makes no sense, considering they claim they are the party for the folks, insisting they are fighting to expand the middle class. Forget what they say for a moment and take a look at what they've done the past five years. It seems the only things they've expanded are the size of government, welfare rolls, homelessness, unemployment, and the number of people who no longer believe anything that comes out of their mouths, thanks to Obamacare.
Now a third quarter U.S. Census report, "Income, Poverty and Health Insurance in the United States: 2012" reveals Americans' real median income has plateaued the past three years, flat-lining at a rate much lower than it was in 2007. In a nutshell, President Obama's first term offered American households a 4.89 percent, or $2627 decrease in the real median household income. According to CNS News, the real median household income was $53,644 in 2008 and has dropped every year since. more >>
After 16 days of political brinkmanship, lawmakers passed a temporary funding plan that raised the debt ceiling and reopened the federal government.
But now, the nation is just barreling toward a new set of deadlines -- lawmakers have until January 15 to deal with the budget and February 7 to deal with the debt ceiling. Until Congress sets the country on stable financial footing for the long term, we're bound to play this game over and over again.
As lawmakers begin negotiations, the conversation must start with tax and entitlement reform. This begins with Medicare and Social Security, as they're the most pressing challenges facing our country. more >>
Radio commentator Rush Limbaugh attacked Pope Francis' letter, condemning the pope's comments on the "new tyranny" of "unfettered capitalism" as uninformed and somehow planted by the Marxist movement.
"This is just pure Marxism coming out of the mouth of the pope," Limbaugh declared. The commentator noted that, until this letter, he had admired Pope Francis. Now, however, he must distance himself. On economics, the pope is "totally wrong, I mean dramatically, embarrassingly, puzzlingly wrong."
In "Evangelii Gaudium," an "apostolic exhortation" sent to the entire Roman Catholic Church, Francis insisted on a renewal of the Catholic Church and a political battle against poverty and inequality to combat a soulless economic system. "The worship of the ancient golden calf (cf. Ex 32:1-35) has returned in a new and ruthless guise in the idolatry of money and the dictatorship of an impersonal economy lacking a truly human purpose," Francis wrote. more >>
As millions of Americans go to the stores for frenzied shopping on the day after Thanksgiving, a group of Texas churches have sought to provide an alternative.
"Bless Friday," a time away from the shopping centers and the seasonal sales, involves congregations organizing community service projects for Black Friday, with the hopes of someday making such volunteer work the norm.