Income stagnation

Home/Tag: Income stagnation

Income Inequality Is The Party Spoiler As Social Security Turns 84

Social Security is celebrating its 84th birthday on August 14. The program has shown its staying power and importance for middle-class economic security over the decades. Its benefits are particularly important for workers, who face economic insecurity during their careers. And the chance of that happening has gone up in the past four decades. At the same

One way to close the wealth gap: make employees part owners

Building wealth in the U.S. today is difficult–especially for people of color. Over the last 30 years, adjusted for inflation, the average wealth of white households rose by 33% (buoyed by the fact that almost all of the wealthiest Americans are white), while the average wealth of black families in the U.S. dropped by half. Hispanic

The world’s paying too high a price for inequality …

Joseph Stiglitz at Columbia University reminded us in the Scientific American this month that just three Americans – Jeff Bezos, Bill Gates and Warren Buffett – account for more wealth than the entire poor half of the US population. As I watched the six pallbearers bringing Walter Kwok Ping-sheung’s coffin out of St John’s Cathedral last Thursday,