United States Income Inequality Continues to Surge

The gap between the richest and the poorest U.S. households is now the largest it’s been in the past 50 years according to new data from the U.S. Census Bureau.

U.S. income inequality was “significantly higher” in 2018 than in 2017, the Census Bureau says in its latest American Community Survey report. Since the rich in the United States possess earnings and investments abroad, it is likely the income and wealth gaps are much larger than the Census Bureau measures.

The gap grew despite a surging national economy that has seen low unemployment and more than 10 years of consecutive GDP growth.

The most troubling thing about the new report, says William M. Rodgers III, a professor of public policy and chief economist at the Heldrich Center at Rutgers University, is that it “clearly illustrates the inability of the current economic expansion, the longest on record, to lessen inequality.”

That is because the rich are using their political power to create income inequality in their favor.

When asked why the rising economic tide has raised some boats more than others, Rodgers lists several factors, including the decline of organized labor and competition for jobs from abroad. He also cites tax policies that favor businesses and higher-income families.

To understand even a little of how labor unions have been weakened you only need to look at a few of the legal decisions made by the corrupt corporate wing of the United States Supreme Court when it sided with the billionaires and their corporations in the Janus vs. AFSCME case. The corrupt wing of the court, lead by Cheif Justice John Roberts, decided to put an end to decades of legal precedent in which labor union members who did not want to pay union dues were required to pay a lesser fee to their unions to cover the cost of negotiating new contracts with management. Now labor unions are the only organizations in the United States that must provide free services to members who do not wish to pay. The corrupt wing of the court’s intention in making this decision was to weaken the power of labor unions, and working people in general, vis-a-vis the billionaires and their corporations.

Everybody knew the corrupt corporate wing of the court was going to vote in favor of Janus and end four decades of legal precedent in the process. Everybody knew the billionaires had the corporate wing in their hip pocket.

Income inequality is measured through the Gini index, which measures how far apart incomes are from each other. To do that, the index assigns a hypothetical score of 0.0 to a population in which incomes are distributed perfectly evenly and a score of 1.0 to a population where only one household gets all of the income.

The United States has been one of the most unequal of nations in the world using the Gini coefficient. The U.S. is ranked 103 in the world by the World Bank for income inequality, behind every major industrialized country, and up there with such nations as Haiti and Uganda. The U.S. was ranked at 73 ten years ago, so inequality continues to worsen here.

The billionaires’ control the corrupt corporate wing of the United States Supreme Court, the entire Republican Party, and most Democratic politicians at the national level. Therefore, you can expect income and wealth inequality will continue to get worse in the United States.

In other words, vote for Bernie Sanders or Elizabeth Warren for president.

US Census Bureau Report

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Obamacare has been designed to redistribute income from the 99 to the 1 percent!

Obamacare has been designed to redistribute income from the 99 to the 1 percent. We should have expected this since the legislation was written by executives of publicly traded health care corporations whose stocks and bonds are bought and sold in the financial markets.

Take the case of a family of four in which the policyholder is fifty years old. We’ll call this family the Smiths. Say Mr. Smith is a college graduate. So is Mrs. Smith. Let’s assume they earn $93,699 a year in 2014, when all parts of Obamacare becomes the law. After taxes, that’s not a whole lot of money. The Smith’s might be in the lower middle class, maybe solidly middle.

The government is going to force them to purchase a health insurance policy whether they want to or not, or they’ll be penalized and compelled to pay a tax on something they don’t want to buy, which is ridiculous and clearly unconstitutional, as the insurance industries corrupt Chief Justice John Roberts of the US Supreme Court clearly knows. The Smiths, however, decide to purchase the policy to avoid the hassle.

The cost of that policy will be $16,858 a year, but the government will subsidize the family and the health insurance industry by paying $8,901 of that policy.

The Smiths, however, have neighbors, the Thompsons. Mr and Mrs Thompson have no insurance coverage and they too will be forced by an unconstitutional law to purchase a health insurance policy from a publicly traded, limited liability, corporation. The Thompsons earn $93,700 a year, which is one dollar more than what the Jones earn. Their insurance policy also costs $16,858 a year, but because they earn one dollar more, they’ll need to pay the entire premium under Obamacare.

This will suck the Thompson’s dry, but it will also push health insurance company profits higher, and send their share prices and dividends for the 1 percent surging. The rich will get richer, but what will it do for the Thompsons? After they pay their taxes, the Thompson’s aren’t going to have a ton of money to spend after the insurance industry (and the 1 percent) financially rapes them via Obamacare. The economy might even contract because of the Obamacare income redistribution scam since 70 percent of the economy is consumer driven and the consumers are going to get financially raped big time. The rich, however, will get richer by sucking the middle class dry with another piece of legislation. That’s precisely why Wall Street Senator Ron Wyden voted for the bill. He’s always looking for ways to redistribute income from the 99 to the 1 percent.

Don’t believe me? Click the following link. It’ll you take to Kaiser Permanente’s Health Care Reform Calculator. Plug in your numbers and see. http://healthreform.kff.org/subsidycalculator.aspx

By the way, this new law may encourage employers everywhere to opt out of providing their employees with health insurance. Target and Walmart have already cut employee hours to opt out of the law.

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