The Piketty-Saez-Zucman estimates show a substantial increase in the share of national income going to the top 1% of income earners. But these estimates ignore government taxes and transfer payments.
Yet a new study finds that the share of after-tax income earned by the top 1% has not changed since the 1960s.
Resolved: The United States federal government should substantially increase fiscal redistribution in the United States by adopting a federal jobs guarantee, expanding Social Security, and/or providing a basic income.
It was supposed to help those with pre-existing conditions, but they pay dearly for bad options.
When Democrats passed the Affordable Care Act of 2010, President Obama and lawmakers made the same claim over and over: The act would make good, affordable health insurance available to people with pre-existing conditions. The actual result has been the opposite. Obamacare makes health insurance as good as possible for the healthy and as bad as possible for the sick.
From John Goodman’s editorial in the Wall Street Journal (Paid gateway)
Families headed by single mothers are five times as likely to live in poverty as married-couple families. Children in single-mother homes are less likely to graduate from high school or earn a college degree. They are more likely to become single parents themselves,...
For the past two decades the US has been experiencing shortages of cancer drugs, antibiotics and even saline, a drug potentially needed by almost every patient who gets admitted to the hospital. Nearly all thirty of the most frequently used emergency department drugs experienced shortages from 2006-2019.
If no policies are changed, in just ten years 66 million Social Security beneficiaries will see their monthly benefit checks cut by 23 percent. That will be financially devastating for retirees at the bottom of the income ladder – who depend on Social Security for their entire income – and it will double the number of seniors in poverty.
At the same time Medicare payments to hospitals will be automatically cut by 10 percent. That will make seniors, especially low-income seniors, less attractive as patients and lead to rationing of medical care.
As time passes, these financial problems will become increasingly worse. They will spill over and affect every social insurance program – Medicaid, food stamps, housing subsidies, etc.
A new book calls for universal health insurance coverage, but with no increase in government spending. It’s getting a lot of attention in progressive circles. Yet a bill that would go a long way toward implementing Finkelstein’s proposal has been introduced in Congress by a conservative Republican. More
It is an economic truism that capital is needed to make investments which are a prerequisite for increasing worker productivity, which is a prerequisite for raising the average income of workers. That is to say, capital is essential for economic growth. Economic growth is the most powerful anti-poverty weapon ever discovered. So consuming capital today makes poor people poorer in future years. Some might question whether economic growth is unambiguously good. This post contains two short videos explaining why growth is unquestionably good – everywhere in the world.
