Wealth and Income Distribution Charts
Economics Without Greed
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2y ago
I created  two charts, one on income, the other on wealth. And I've included two essays, both rather basic.  Basic to a modern economy are the distribution profiles of income and wealth. I've fashioned two home-made colored-pencil charts in this posting, one displays wealth distribution and the other income distribution. And below them I've included two recent short essays that are introductory in nature, all the same they are crucial for understanding the needs we face. In short, the lower-earning and -saving majority are being left out, and  a social disaster is in the makin ..read more
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Solutions, Accentuate the Positive
Economics Without Greed
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2y ago
     Solutions — The Way Forward                                                                                 To Shared Prosperity     The problem:  Average income growth in US recoveries: top 10% versus the bottom 90%. (Graph: Pavlina Tcherneva) Read the article about Pavlina Tcherneva who made this graph. The CBO report on income distribution is stark ..read more
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Is Capitalism Broken?
Economics Without Greed
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2y ago
                        Is Capitalism Broken?                           One Percent Earns 18.7% of annual income, while the lower 55% Earns 16.2%                           2% Owns 50% of private wealth and the lower 50% own 1%      This graph shows who received the growth since 1949. Pavlina Tcherneva created it, see this essay and her web page, and the article at Bill Moye ..read more
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Trump's One Good Idea: Soak the Rich
Economics Without Greed
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2y ago
                      Trump’s One Good Idea In 1999 Mr. Trump was running for president and broadcasting his ideas about the national debt. A November, 1999, article begins, “Billionaire businessman Donald Trump has a plan to pay off the national debt, grant a middle class a tax cut, and keep Social Security afloat: tax rich people like himself. . . . By Trump's calculations, his proposed 14.25 percent levy on such net worth [on individuals with net worth over $10 million] would raise $5.7 trillion and wipe out the debt in one full ..read more
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The 1950s and Today
Economics Without Greed
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2y ago
Comparing the 1950s and Today --                    Economics and Taxation                      We remember the 1950s fondly because of 1957 Chevys, Elvis, President Eisenhower and sports stars like Willie Mays, Johnny Unitas, Rocky Marciano, Bob Cousy, Althea Gibson, Pancho Gonzalez, jockey Willie Shoemaker and Leo Nomellini who was a 6 time All NFL defensive and offensive tackle for the San Francisco Forty-Niners.                    ..read more
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Where did $25 Trillion Go?
Economics Without Greed
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2y ago
              Where is that $25 Trillion? The private wealth of the nation increased by $25 trillion since 2008. Did you get some of it? OK, it was only $24.8 trillion. Where did it go? See the Federal Reserve report here, page 2. (How this relates to the Ryan-Republican budget plan follows below this discussion of $25 trillion.)  How much is $24.8 trillion created over a six year period? It is  $77,500 per citizen or $200,000 per household of new or additional wealth. (Divide $24.8 trillion by 320 million citizens). That's how much mor ..read more
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What Caused the Recession ?    &nbs...
Economics Without Greed
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2y ago
What Caused the Recession ?                                  Debt caused the Recession.  Excessive debt leads to insolvency. A growth of debt level must be accompanied by a growth of income. The US economy broke this simple rule, the result has been the Great Recession (GR). Economist Steve Keen won a respected prize among economists for predicting the GR. His explanation points exclusively to the growth of private debt. Since 1964 the “average weekly earnings” of non-supervisory workers, abo ..read more
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The Best Radio Show
Economics Without Greed
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2y ago
     Richard Wolff's Economic Update I just finished an hour's listening to Economic Update, January 23, 2015.  It was the best show I've ever heard (click here - Audio/Jan. 23, or click here, KPFA radio which carries Wolff's program), especially the final half when Wolff's wife, psychologist Dr. Harriet Fraad, describes the dangerous plight of our nation's youngsters. I seldom describe the human side of bad economics; this show is refreshing and will enlighten you. One in six youngsters, below 18 year's old, suffers food insecurity and hunger perhaps daily. Half of ..read more
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America's Inequality
Economics Without Greed
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2y ago
  The Profile of Inequality of Income and Wealth I read an article by Lawrence Mishel at the American Prospect and left this comment. My comment: Income Shares --- Are they Healthy?"The lower-earning 45% of U.S. households all with incomes below $40,000 a year, earns in market income about 11.5% of all income, while the top-earning 20%, all with incomes above $100,000, earn 60.0% of all income. This comes out of the Congressional Joint Commission on Taxation (see here, page 30). When I convert this to average income per household, it means that the lower 45% have one dollar o ..read more
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Two Stories -- Obamacare Results, and Unemployment Demographics
Economics Without Greed
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2y ago
I present two stories today: Obamacare results, to date, and E/P, the Employment to Population story. The second is for nut-cases like me who can't quite unravel the mystery of the decline in the share of adults who are employed. The official versions are unconvincing, and here is an argument why. But first,  Here's some info about the Obamacare, or ACA, that relies on this  New York Times article, "Obama's Health Law: Who Was Helped Most", and several other sources. I live in Mariposa County, so it is addressed to my neighbors, but not exclusively. In Mariposa County the percent ..read more
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