Rent-seeking in America
Nobel laureate Joe Stiglitz defines rent-seeking as “using political and economic power to get a larger share of the national pie, rather than to grow the national pie” – and he says that America today has become a rent-seeking society. Hear him interviewed here (the 7:40-8:55 interval for the rent-seeking passage), discussing on his new book, The Price of Inequality.
Too hot for TED?
Something funny happened when millionaire Nick Hanauer’s was invited to give a TED talk on income inequality in America. He advocated higher taxes on the rich – including people like himself. Then the good people at TED decided his talk was too “political.” They decided not to post it. Here’s an excerpt from Hanauer’s non-talk:
We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Rather they are a consequence of an eco-systemic feedback loop animated by middle-class consumers, and when they thrive, businesses grow and hire, and owners profit. That’s why taxing the rich to pay for investments that benefit all is a great deal for both the middle class and the rich.
Read the full text of Hanauer’s non-talk here.
See his powerpoint slides here.
Read the backstory here.
We are the 99%
Animation on U.S. income distribution from The Guardian.
http://www.youtube.com/watch?v=ab6Ji-fSlTk&feature=player_embedded
Source: http://www.guardian.co.uk/news/datablog/video/2011/nov/16/99-v-1-occupy-data-animation
Tax Havens or Financial Sinkholes?
Great article from James K. Boyce, originally published on Triple Crisis. Read it here.
Federal Taxes Paid/Received For Each State
A very cool infographic showing where our money comes from and where it goes. Check it out!
