| Academy Award-winning filmmaker Alex Gibney (Taxi to the Dark Side, Enron: The Smartest Guys in the Room) presents his take on the gap between rich and poor Americans in Park Avenue: Money, Power and the American Dream. Gibney contends that America's richest citizens have "rigged the game in their favor," and created unprecedented inequality in the United States. Nowhere, Gibney asserts, is this more evident than on Park Avenue in New York. 740 Park in Manhattan is currently home to the highest concentration of billionaires in the country. Across the river, less than five miles away, Park Avenue runs through the South Bronx, home to the poorest congressional district in the United States. In Park Avenue: Money, Power and the American Dream Gibney states that while income disparity has always existed in the U.S., it has accelerated sharply over the last 40 years. As of 2010, the 400 richest Americans controlled more wealth than the bottom 50 percent of the populace — 150 million people. In the film, Gibney explains why he believes upward mobility is increasingly out of reach for the poor. | |
| http://www.whypoverty.net/#en/video/29/?&_suid=136320082713507143843280715068 
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http://itvs.org/series/why-poverty
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ReplyDeleteOutrageous revelations about the inner workings of the American
ReplyDeletegovernment (the institutionalization of "spin"):
Lobbying in Washington D.C.
http://billmoyers.com/episode/full-show-mark-leibovich-on-americas-gilded-capital/
or read "This Town" by Mark Liebovich
wealth inequality undermines our sense of fairness wch makes people resort to breaking the law (criminal behavior) to accumulate wealth and gain economic relief. They will not abide by societal norms and rules...and tbat noncompliance results in a degradation of trust in social institutions and a disintegration of the social order. (just imagine what would happen if traffic rules were disregarded!) Corruption in politics and the abuse of power promotes distrust in political leaders and the political process itself
ReplyDeleteWhen one group of people is allowed to get rich at the expense of another (one group is starved out of the economy). When the economy does not work to benefit everyone,the economically-deprived perceive a systemic bias in the economic system and have lost trust in the impartiality of the justice system. Only the broken people understand yhe meaning of justice...precisely because they have been victims of injustice.
Predatory capitalism: capitalism is slavery with a modern twist. Capitalism views the work force as a commodity rather than as human beings. We need strong unions to protect workers rights. capitalists see labour/laborers as a means to one's own enrichment
Without regulation and state oversight, capitalism is unaccountable rule by the wealthy in wch workers are no more than slaves to be exploited for ones own profit.
Capitalists love taking advantage of low labour costs in other countries (such as China and Mexico) The less they can. pay their workers the more profit tbey can keep for tbemselves.
If we are to build a just society we must not tolerate tbe victimization/dehumanization of groups of people.
extreme inequality is unhealthy (results in societal instability). It damages the entire social fabric. It erodes equality of opportunity. "Different reward for same effort" is inherently unfair. Levels of wealth are not justly earned. Most of the 1% get their wealth through political connections. Economic inequality translates into political inequality. The rich have disproportionate influence in elections. political decisions(policy choices) are made on behalf of the wealthy and of large corporations who fund campaigns.
For the elite, inequality morphs into entitlement. They feel above the law. They are more selfisb and more immoral. Those with greater wealth don't care about others. ******************** loopholes are written into law to incentivize entrepreneurship.
plugging loopholes in the corporate tax laws reforming the tax system to make it equitable for all
loopholes in the taxlaws give unfair advantage to the wealthy by allowing them to incorporate (to receive private corporate status and its associated tax breaks) People who can afford to incorporate qualify for tax breaks. Existing tax laws disproportionately benefit the wealthy. (tax labor more than capital) Whats needed is a "Robin Hood economy" where the wealthy pay more! "universal basic income" supported by higber corporate taxes. Governments must have a "poverty-reduction strategy" so no one is left behind
*********************
capitalists see labour/laborers as a means to one's own enrichment Capitalists love taking advantage of low labour costs in other countries (such as China and Mexico) The less they can. pay their workers the more profit tbey can keep for tbemselves. Without regulation and state oversight, capitalism is unaccountable rule by the wealthy in wch workers are no more than slaves to be exploited for ones own profit.
ReplyDeleteExtreme wealth disparities have made many people alienated in their own societies.
People become socially isolated ,.lose their sense of belonging and connnection to others.
New Oxfam report states that 82% of annual global wealth ends up in the pockets of 1% of the global population.
Meanwhile at the bottom 50% of the global population receives no benefit.
https://www.oxfam.org/en/pressroom/pressreleases/2018-01-22/richest-1-percent-bagged-82-percent-wealth-created-last-year
The super rich are amassing their wealth on the backs of the poor.
The current economic system benefits tbe rich while poor workers benefit little or not at all (no increase in their wealth).
Whats needed is a revision of tax laws--eliminating tax breaks for corporations (corporate welfare), a clamp down on tax avoidance schemes (tax havens),and strenghening labour rights,
wealth inequality /UN agency report/Oxfam
ReplyDeletehttps://youtu.be/PDHxQmnSGbQ
https://www.oxfam.org/en/tags/wealth-inequality
Oxfam presents new evidence that the gap between rich and poor is growing ever wider and is undermining poverty eradication. This report delves into the causes of the inequality crisis and looks at the concrete solutions that can overcome it.
Bernie will redistribute the wealth. He will ensure that the wealth generated by the economy and the development of the country's natural resources (wch belong to all citizens) will be equitably allocated
ReplyDeleteExtreme income disparity destabilizes society and erodes social cohesion
the gap between the very wealthy and the poor is too great,and must be reduced
the accumulation of obscene amounts of wealth in the coffers of the 1% must end
the social determinants of health show that poverty has a negative health outcome
"Bootstraps need boots" ---Hugh Segal makes a powerful case for a universal basic guaranteed annual income for all
https://www.cbc.ca/radio/thesundayedition/the-sunday-edition-for-march-29-2020-1.5509908/amidst-a-global-pandemic-hugh-segal-s-call-for-a-guaranteed-annual-income-is-even-more-timely-1.5509938
1% own 26% of Canada's wealth:
ReplyDeleteCanada's Richest Families Own 25% Of the Country's …
https://www.narcity.com/money/ca/canadas-richest-families-ow…
Using this new methodology revealed that the richest one percent in Canada controls 25.6% of the country's total wealth. That number is about the same as the amount held by the middle 40% in the country, which stands at 25.3%. It also stands in stark contrast to the bottom 40%, who control just 1.2% of Canada's money.
The 1% Owns Almost As Much Wealth As The Middle …
https://www.forbes.com/sites/jackkelly/2019/11/12/the-1-own…
2019-11-12 · The wealth of the richest Americans is about $35 trillion, as of the second quarter of 2019. The middle class—representing the 50th to 90th percentiles—holds roughly $36.9 trillion. At this rate,...
Canada's Super Rich Actually Own A Bigger Share of …
https://betterdwelling.com/canadas-super-rich-actually-own-a-bigg…
2020-06-18 · Canada’s Richest Families Have More Wealth Than Previously Thought. The new model suggests Canada’s super rich own a much bigger share of wealth than thought. The top 1% of households were previously estimated to hold 13.7% of wealth in Canada. Under the new model, that number rises to 25.6% of total weal
The Expendables: How the Middle Class Got Screwed …
ReplyDeleteby Jeff Rubin
https://www.goodreads.com/book/show/52512861-the-expen…
The Expendables book. Read 4 reviews from the world's largest community for readers. From the #1 bestselling author of Why Your World Is About to G...
https://www.chapters.indigo.ca/en-ca/books/the-expendables-how-the-middle/9780735279391-item.html