As of March 26, we're $27,100 in the red for the quarter. Donate here to support this vital work
Subscribe here and join over 13,000 subscribers to our free weekly newsletter

Income Inequality Media Articles

Below are key excerpts of revealing news articles on income inequality from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

Explore our comprehensive news index on a wide variety of fascinating topics.
Explore the top 20 most revealing news media articles we've summarized.
Check out 10 useful approaches for making sense of the media landscape.

Sort articles by: Article Date | Date Posted on WantToKnow.info | Importance

The 1% grabbed 82% of all wealth created in 2017
2018-01-22, CNN
http://money.cnn.com/2018/01/21/news/economy/davos-oxfam-inequality-wealth/in...

More than $8 of every $10 of wealth created last year went to the richest 1%. That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth. Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work. "The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International. The head of the advocacy group argued that the people who "make our clothes, assemble our phones and grow our food" are being exploited in order to enrich corporations and the super wealthy. The study, released ahead of the World Economic Forum in Davos, was produced using data from Credit Suisse's (CS) Global Wealth Databook. Oxfam said Monday that it is time for the global elite to stop talking about inequality and start changing their ways. "It's hard to find a political or business leader who doesn't say they are worried about inequality. It's even harder to find one who is doing something about it," said Byanyima. Oxfam said that governments should focus on policies that would lead to fairer distribution of wealth and stronger workers' rights.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


Billionaires Made So Much Money Last Year They Could End Extreme Poverty Seven Times
2018-01-22, Time
http://time.com/money/5112462/billionaires-made-so-much-money-last-year-they-...

The global economy created a record number of billionaires last year, exacerbating inequality amid a weakening of workers rights and a corporate push to maximize shareholder returns, charity organization Oxfam International said in a new report. The world now has 2,043 billionaires. The group of mostly men saw its wealth surge by $762 billion, which is enough money to end extreme poverty seven times over, according to Oxfam. According to separate data compiled by Bloomberg, the top 500 billionaires net worth grew 24% to $5.38 trillion in 2017, while the worlds richest person, Amazon.com Inc.s Jeff Bezos, saw a gain of $33.7 billion. The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system, said Winnie Byanyima, executive director of Oxfam International. The people who make our clothes, assemble our phones and grow our food are being exploited. Oxfam published the report as global leaders, chief executives and bankers arrive in Davos, Switzerland, for the World Economic Forums annual meeting. Noting that many of the worlds elite say theyre concerned about income inequality, the charity said most governments are shamefully failing to improve the matter. Oxfam called on governments to limit shareholder and executive returns, while ensuring workers receive a living wage. It also recommended eliminating the gender pay gap and raising taxes on the wealthy, among other suggestions.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


It's Now Illegal to Pay Men More Than Women in Iceland
2018-01-02, Fortune
http://fortune.com/2018/01/02/illegal-to-pay-men-more-than-women-iceland/

Iceland is the first country to make it illegal to pay men more than women. Equal pay policies is now mandatory for companies with 25 or more employees. Those that cannot show that they provide equal pay will be subject to fines. The law, which was passed last year, went into effect on Jan. 1. Iceland is already a leader in gender parity. The World Economic Forum (WEF) ranked Iceland as the top country for gender quality for the last nine years based on criteria involving economics, education, health, and politics. For example, Icelandic women make up 48% of the countrys parliament - without a quota system. Despite this, wage inequality has persisted. In 2016, thousands of women in Iceland left work at 2:38 p.m., to protest pay disparity. The time was symbolic of when woman stop receiving pay during their 9 to 5 work day compared to men. The wage gap in Iceland was 72 cents to every mans dollar. On International Womens Day in 2017, the country moved to change that. The tiny country, pop. 323,000, aims to completely eliminate the wage gap by 2020.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.


The worlds richest became $1 trillion wealthier in 2017 and heres why that should worry us
2017-12-27, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/voices/worlds-richest-are-getting-richer-general...

The worlds richest individuals increased their wealth by a weighty $1 trillion, or about 750bn, in 2017. Most of us here in the UK battled stagnant wages [and] rising shop prices. In fact, the figures are quite startling. Bloombergs Billionaire Index, which measures the wealth of the worlds top 500 people, shows that the richest of the rich controlled a total of $5.3 trillion in 2017, up from an already staggering $4.4 trillion at the same point in 2016. For context, the United States of America - the worlds largest economy - has a gross domestic product of somewhere around $19 trillion. So all in all, not a bad year to be a billionaire. But what does it mean for the rest of us? Back in 2016 ... a group of academics from such esteemed institutions as the University of Oxford, London School of Economics and Cornell University found that as the rich get richer the rest of us get grumpier. The findings were quite clear: in societies where the richest control the majority of the countrys income, the population as a whole is more likely to report feeling stressed, worried or angry. As the rich get richer, they are responsible for pricing certain goods and services out of the reach of the rest of the population think top schools, the best hospitals and property in particularly desirable locations. And then theres also a crucial psychological factor that may play a part: seeing the most prosperous becoming even more affluent might make you feel like your chances of moving up the ladder are fluttering away.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


Inequality is not inevitable but the US 'experiment' is a recipe for divergence
2017-12-14, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/inequality/2017/dec/14/inequality-is-not-inevitab...

Todays inaugural World Inequality Report shows that income inequality has increased in nearly every country around the world since 1980 but at very different speeds. Since [1980], the gap between the richest and the rest has surged in the US, while in western Europe it has increased only moderately. In both regions, the top 1% of adults earned about 10% of national income in 1980. Today that cohorts share has risen modestly to 12% in western Europe, but dramatically to 20% of all income in the US. The good times have rolled especially fast for those at the very top in the US, with annual income booming by 205% since 1980 for the top 1%. But this boomtime at the very top has not benefited the rest of the American population in any measurable way. For the 117 million American adults in the bottom 50%, income growth has been nonexistent for a generation. In western Europe, by contrast, incomes of the bottom half have matched overall economic growth. What explains this dramatic divergence? The US has experienced a perfect storm of radical policy changes. The tax system, which used to be progressive, has become much less so over time. The federal minimum wage has collapsed, unions have been weakened and access to higher education has become increasingly unequal. At the same time, deregulation in the finance industry and overly protective patent laws have contributed to booms on Wall Street and in the healthcare sector, which now makes up 20% of national income.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


When Unpaid Student Loan Bills Mean You Can No Longer Work
2017-11-18, New York Times
https://www.nytimes.com/2017/11/18/business/student-loans-licenses.html

Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends drivers licenses, making it nearly impossible for people to get to work. Firefighters, nurses, teachers, lawyers, massage therapists, barbers, psychologists and real estate brokers have all had their credentials suspended or revoked. Determining the number of people who have lost their licenses is impossible because many state agencies and licensing boards dont track the information. Public records requests by The New York Times identified at least 8,700 cases in which licenses were taken away or put at risk of suspension in recent years, although that tally almost certainly understates the true number. With student debt levels soaring the loans are now the largest source of household debt outside of mortgages so are defaults. Lenders have always pursued delinquent borrowers: by filing lawsuits, garnishing their wages, putting liens on their property and seizing tax refunds. Blocking licenses is a more aggressive weapon, and states are using it on behalf of themselves and the federal government. Tennessee is one of the most aggressive states at revoking licenses. From 2012 to 2017, officials reported more than 5,400 people to professional licensing agencies. Many - nobody knows how many - lost their licenses. Some ... lost their careers.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.


The 3 Richest Americans Hold More Wealth Than Bottom 50% Of The Country, Study Finds
2017-11-09, Forbes
https://www.forbes.com/sites/noahkirsch/2017/11/09/the-3-richest-americans-ho...

Wealth concentration is at peak levels. That was the gist of a recent report published by the Institute for Policy Studies, a left-leaning think tank based in Washington, D.C.. Using data from Forbes annual ranking of the 400 richest Americans, the institute reached a number of conclusions regarding wealth disparities in the United States. Most dramatically, it found that the countrys three richest individuals - Bill Gates, Warren Buffett and Jeff Bezos - collectively hold more wealth than the bottom 50% of the domestic population, a total of 160 million people or 63 million American households. Roughly a fifth of Americans have zero or negative net worth, the authors wrote. Over the years, the cutoff for The Forbes 400 has risen dramatically. In 1982, the rankings inaugural year, the minimum net worth was $100 million. This year the barrier to entry hit an all-time high of $2 billion. In its report, the think tank also found that, collectively, the individuals on The Forbes 400 hold more wealth than the bottom 64% of the country, "more people than the populations of Mexico and Canada combined." Altogether, the list members were worth $2.7 trillion this year, a 59% increase over the last five years alone. The net worth of the median American family, meanwhile, has declined by about 3% on an inflation-adjusted basis since Forbes began publishing the 400 in the early 1980s, the institute says. It reports that the typical U.S. family is presently worth some $80,000.

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


Bill Gates, Jeff Bezos and Warren Buffett richer than poorest 160 million Americans combined
2017-11-09, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/business/news/bill-gates-jeff-bezos-warren-...

Microsoft co-founder Bill Gates, Amazon boss Jeff Bezos, and veteran financier Warren Buffett now have a combined wealth of $248.5bn (190bn) which is more than the net worth of the 160 million poorest US citizens, the Institute for Policy Studies think tank said. In its report, the Billionaire Bonanza, IPS found that Americas top 25 wealthiest people now hold [more than] $1 trillion in wealth. Our wealthiest 400 now have more wealth combined than the bottom 64 per cent of the US population, the report said. The study found that the median American family has a net worth of $80,000 ... while one in five US households have zero or negative net worth, meaning that their debts are equal to or greater than the worth of their cash and possessions. The figure is higher for people of colour - underwater households make up over 30 per cent of black households, and 27 per cent of Latino households. Last month, Forbes reported that it was another record year for the wealthiest people in the worlds richest nation. The minimum net worth required to make into the top 400 list is now a record $2bn, up almost a fifth from $1.7bn just twelve months ago.

Note: Explore also a CNN article titled "America's wealth gap is bigger than ever." For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


Free cash for everyone? Stockton, Calif.'s mayor plans to see if it works
2017-10-27, CNN News
http://money.cnn.com/2017/10/27/news/economy/stockton-universal-basic-income/...

Growing up in Stockton, California, a little extra money would've meant the world to Michael Tubbs' family. Tubbs' mother worked long hours ... and still had to borrow from check cashing places to get by. "If we had $300 a month, life would be less stressful," Tubbs says. Today, Tubbs is Stockton's 27-year-old mayor. Last week, he announced the launch of an experimental program that will give people like his mom about $500 a month, with no strings attached. Stockton will likely become the first city in the nation to test out a version of universal basic income, an economic system that would regularly provide all residents enough money to cover basic expenses, with no conditions or restrictions. The concept of universal basic income - or UBI - has been around for decades. Martin Luther King advocated for it in 1967 to create a minimum standard of living. Up until recently, it has mostly been a subject of discussion among academics. But universal basic income has started to gain traction as poverty has grown and fears of automation killing jobs have mounted. Large-scale trials began this year in Finland and Canada to test whether the program improves outcomes like health and employment. A ... non-profit called the Economic Security Project has committed $1 million to the Stockton effort, with funding from donors that include Facebook co-founder Chris Hughes. Backers hope larger cities and states will eventually adopt universal basic income programs.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.


Pollution killing more people every year than wars, disasters and hunger, study says
2017-10-20, Chicago Tribune/Associated Press
http://www.chicagotribune.com/news/nationworld/science/ct-deadly-pollution-st...

Environmental pollution - from filthy air to contaminated water - is killing more people every year than all war and violence in the world. More than smoking, hunger or natural disasters. More than AIDS, tuberculosis and malaria combined. One out of every six premature deaths in the world in 2015 - about 9 million - could be attributed to disease from toxic exposure, according to a major study ... in The Lancet medical journal. The financial cost from pollution-related death, sickness and welfare is equally massive, the report says, costing some $4.6 trillion in annual losses - or about 6.2 percent of the global economy. The report marks the first attempt to pull together data on disease and death caused by all forms of pollution combined. "Pollution is a massive problem that people aren't seeing because they're looking at scattered bits of it," [lead study author Philip] Landrigan said. Experts say the 9 million premature deaths the study found was just a partial estimate, and the number of people killed by pollution is undoubtedly higher. And there are still plenty of potential toxins still being ignored, with less than half of the 5,000 new chemicals widely dispersed throughout the environment since 1950 having been tested for safety or toxicity. The vast majority of pollution-related deaths ... occur in low- or middle-income developing countries, where policy makers are chiefly concerned with developing their economies. In wealthier countries where overall pollution is not as rampant, it is still the poorest communities that are more often exposed, the report says.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.


Grandpa had a pension. This generation has cryptocurrency
2017-08-18, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/long_reads/grandpa-had-a-pension-this-gener...

Most readers have probably heard of Bitcoin, the digital coin that dominates the cryptocurrency market. It has gained notice both because of its skyrocketing value (from less than a cent in early 2010 to around $2,600 currently). But do you know Ethereum, with a total value of coins in circulation of close to $20 billion? Then there are more than 800 lower-value and often creatively named coins among those listed on Coinmarketcap.com. After years as a niche market for technologically sophisticated anarchists and libertarians excited about a decentralised financial network not under government control, digital coins may be on the verge of going mainstream. Cryptocurrency has understandable appeal to millennials, who came of age during the 2008 financial crisis. Theres a low cost for entry, you dont pay a lot of fees and millennials are the most tech-savvy, said John Guarco, 22. Like most of the people interviewed for this article, [Guarco] asked that names of the coins he has invested in not be published. Unlike previous generations, many of these greenhorn investors dont have pensions, are mistrustful of saving money in mutual funds, and are fully accustomed to owning digital assets. As traditional paths to upper-middle-class stability are being blocked by debt, exorbitant housing costs and a shaky job market, these investors view cryptocurrency not only as a hedge against another stock market crash, but also as the most rational, and even utopian, means of investing their money.

Note: The media has given surprisingly little coverage to the huge gains of bitcoin and other digital currencies. If you had invested $1,000 in Bitcoin four years ago when the price was about $110 per coin, your investment would now be worth nearly $44,000, a whopping 40 times increase. The fact that the media is covering this so little suggests that the price may continue to rise as more people find out, though this is highly speculative and uncertain.


Our Broken Economy, in One Simple Chart
2017-08-07, New York Times
https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequ...

Many Americans cant remember anything other than an economy with skyrocketing inequality, in which living standards for most Americans are stagnating and the rich are pulling away. It feels inevitable. But its not. A well-known team of inequality researchers ... has been getting some attention recently for a chart it produced. It shows the change in income between 1980 and 2014 for every point on the distribution, and it neatly summarizes the recent soaring of inequality. The message is straightforward. Only a few decades ago, the middle class and the poor werent just receiving healthy raises. Their take-home pay was rising even more rapidly, in percentage terms, than the pay of the rich. The post-inflation, after-tax raises that were typical for the middle class during the pre-1980 period - about 2 percent a year - translate into rapid gains in living standards. At that rate, a households income almost doubles every 34 years. In recent decades, by contrast, only very affluent families ... have received such large raises. Yes, the upper-middle class has done better than the middle class or the poor, but the huge gaps are between the super-rich and everyone else. The basic problem is that most families used to receive something approaching their fair share of economic growth, and they dont anymore.

Note: The graphics at the link above clearly show how inequality has been skyrocketing in recent years. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


College Was Once Free and For the Public GoodWhat Happened?
2017-07-20, Yes! Magazine
http://www.yesmagazine.org/new-economy/college-was-once-free-and-for-the-publ...

Among politicians, college administrators, educators, parents and students, college affordability seems to be seen as a purely financial issue. The roots of the current student debt crisis are neither economic nor financial in origin, but predominantly social. In 2012, more than 44 million Americans were still paying off student loans. And the average graduate in 2016 left college with more than $37,000 in student loan debt. Student loan debt has become the second-largest type of personal debt among Americans. From 1995 to 2015, tuition and fees at 310 national universities ... rose considerably, increasing by nearly 180 percent at private schools and more than 225 percent at public schools. During the 19th century, college education in the United States was offered largely for free. College education was considered a public good. Students who received such an education would put it to use in the betterment of society. The perception of higher education changed dramatically [as] private colleges began to attract more students from upper-class families. In 1927, John D. Rockefeller began campaigning for charging students the full cost it took to educate them. Further, he suggested that students could shoulder such costs through student loans. Tuition - and student loans - thus became commonly accepted aspects of the economics of higher education. If the United States is looking for alternatives to what some would call a failing funding model for college affordability, the solution may lie in looking further back than the current system.

Note: According to former US Secretary of Labor Robert Reich, the sharply increasing cost of a college education serves to redistribute wealth from the poor to the rich. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.


Tax evaders exposed: why the super-rich are even richer than we thought
2017-06-14, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/inequality/2017/jun/14/tax-evaders-exposed-why-su...

Tax records are invaluable for the study of economic inequality. Graphs published on the World Wealth and Income Database, for example, show just how ... this information can inform the public debate. The top 1% income share is now closely scrutinised by journalists and policymakers. But if the rich dodge taxes more than others, tax records will underestimate inequality. The key data source used in rich countries to study tax evasion is random tax audits but these audits do not capture tax evasion by the very wealthy. In our recent study, however, we exploited a massive trove of data leaked from HSBC Switzerland, the so-called HSBC files, to fill this gap. We also made use of the Panama Papers, which last year revealed the identity of the shareholders of shell companies created by the Panamanian firm Mossack Fonseca. Just as with HSBC, this leak is valuable as it can be seen as a random event and involves a prominent provider of offshore financial services. We combined random audits with these new sources of information to shed light on who really evades taxes. The higher one moves up the wealth distribution, the higher the probability of hiding assets. So what are the consequences for inequality? At the very top of the pyramid, it is much greater than previously estimated. In Norway, where the available wealth data is particularly detailed, the super-wealthy appear to be 30% wealthier than previously though. The share of wealth owned by the top 0.1% increases from 8% to 10%.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and financial industry corruption.


Life expectancy gap between rich and poor US regions is 'more than 20 years'
2017-05-08, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/inequality/2017/may/08/life-expectancy-gap-rich-p...

Your average life expectancy now varies by more than 20 years depending on where you live in the United States, according to an in-depth study by the University of Washington. Americas life expectancy gap is also predicted to grow even wider in future, with 11.5% of US counties having experienced an increase in the risk of death for residents aged 2545 over the period studied (1980-2014). No previous study has put the disparity at even close to 20 years. This is way worse than any of us had assumed, said [study author] Ali Mokdad. The researchers found that while residents of certain affluent counties in central Colorado had the highest life expectancy at 87 years, people in several counties of North and South Dakota, typically those with Native American reservations, could expect to die far younger, at only 66. Inequalities will only increase further if recent trends are allowed to continue uncontested, the report states. If the figures are surprising, the factors cited in the study to explain the large and increasing geographic inequalities perhaps are not. The authors point the finger at differences in socioeconomic and race/ethnicity factors, the availability of and access to quality healthcare and insurance, and preventable risk factors such as smoking, drinking and physical inactivity. You expect disparities in any country, but you dont expect the disparities to be increasing in a country with our wealth and might, Mokdad said.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.


Hog Farms Spray Pig Urine, Feces Into Air Around North Carolina's Black Communities
2017-05-03, International Business Times
http://www.ibtimes.com/hog-farms-spray-pig-urine-feces-air-around-north-carol...

Residents in North Carolina are fighting back against one of the state's most prominent industries: hog farming. But the legislation may not be on their side - a group of lawmakers in the state passed House Bill 467 last week, legislation that limits how much residents can collect in damages from hog farms. Hog farms in North Carolina dispose of pig feces and urine by spraying it, untreated, into the air where residents live. In response, nearly 500 of those residents ... from eastern North Carolina, brought a class action suit against Murphy-Brown, the state's largest producer of hogs. The lawsuit has now made its way to federal court. Residents have said the process of waste disposal has caused health problems. Much of the waste disposal affects low-income residents and black communities. "It can, I think, very correctly be called environmental racism or environmental injustice that people of color, low-income people bear the brunt of these practices," [University of North Carolina professor] Steve Wing ... said. "I shut my hog operation down, and I got out of it. And I ... just couldn't do another person that way, to make them smell that," Don Webb, a former pig factory farm owner, told Democracy Now. "You get stories like, 'I can't hang my clothes out.' Feces and urine odor comes by and attaches itself to your clothes." HB 467 ... was passed by both houses of the North Carolina Legislature. The bill would prevent people from recovering damages like those for healthcare bills and pain and suffering.

Note: In 2014, video footage of toxic cesspools around North Carolina farms exposed shockingly lax agricultural waste disposal standards. In response, the North Carolina Legislature passed a law to prevent whistle-blowers from exposing corporate wrongdoing. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.


Crowdfunding for medical expenses is rising when it should be eradicated
2017-04-28, Los Angeles Times
http://www.latimes.com/business/hiltzik/la-fi-hiltzik-crowdfunding-medical-20...

Public appeals by families or individuals for help paying basic medical bills seem to be on the rise in the United States. Crowdfunding websites such as GoFundMe.com report that medical expenses rank as their largest single category of appeals; other sites such as HelpHopeLive have sprung up specifically for medical expense appeals. [This points] to a crisis in the American healthcare system in two ways. One involves the gaps and other problems with U.S. healthcare that make crowdfunding campaigns necessary. Lawmakers who support policies that drive people to expose their personal lives in order to obtain desperately needed care should be ashamed of themselves. The other crisis underscored by the rise of crowdfunding concerns the ethical issues raised by public appeals for medical care itself. Those are addressed in a new article in the Journal of the American Medical Assn.. Crowdfunding for expenses that should be met by private insurers or government healthcare programs ... can make the delivery of healthcare fundamentally unfair. They can direct resources away from patients who need them the most toward those whose campaigns are merely more vocal, photogenic, or emotionally appealing.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.


The Day You Changed The Economy
2017-04-26, Huffington Post
http://www.huffingtonpost.com/entry/the-day-you-changed-the-economy_us_5900cb...

Despite the urgings of all of the worlds great religions, neoliberalism, the economic narrative that now runs the world, has convinced us that greed is good. The sole goal of the economy and business, it says, is to generate financial wealth. Markets are perfect and all of us individualistically maximizing our own desires will somehow deliver a world that works. Except that it didnt. Today eight men have as much wealth as the bottom 3.5 billion humans on earth. The middle class is sinking into poverty with mothers working two jobs to support their families, while proponents of austerity cut social services to give greater tax benefits to the richest one percent. The rich call themselves job creators. But they invest not in new companies, but in financial instruments that benefit the big banks. So in 2016 the bonuses paid to Wall St. bankers, if shared among minimum wage earners, would have doubled the minimum wage. Just the bonuses. The old narrative is based on ... assumptions that scientists now reject. Psychologists, evolutionary biologists, anthropologists and others find that most people are not greedy, rugged individualists. We seek to meet our needs, but more, people seek goodness, connection, and caring. We desire to be rewarded for meaningful contributions with a decent living. We are not mostly motivated to acquire wealth. To thrive, businesses and society must pivot toward a new purpose: shared well-being on a healthy planet.

Note: The above article was written in support of the Regenerative Future Summit, which will take place in May 2017 in Boulder, Colorado. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and income inequality.


Ontario to try giving poor a basic income
2017-04-24, BBC News
http://www.bbc.com/news/world-us-canada-39675442

Canada's largest province is experimenting with giving poor people a basic income with no strings attached. The three-year study will test whether this basic income is better than current social welfare programmes. Randomly selected participants living in three communities in Ontario will be given at least C$16,989 ($12,600, 9,850) a year to live on. Ontario Premier Kathleen Wynne said it is time to be "bold" in figuring out how to help society's most vulnerable. Ontario is not the only one trying this policy out. Finland recently launched its own trial in January, and the Scottish government has expressed interest. The idea is popular with both progressives and libertarians alike because it has the potential to reduce poverty and cut out red tape. Ontario's pilot project will roll out in Hamilton and Thunder Bay this spring, and Lindsay this fall. The program will cost C$50m a year, and will include 4,000 households from across those three communities. Participants must have lived in one of the areas for over a year, be between 18-64 and be living on a lower income. Single adults will be given a yearly income of C$16,989, while couples will earn C$24,027, minus 50% of any income earned from a job. By allowing people to keep part of their earnings, the government hopes people will be encouraged to work and not rely solely on assistance. "It's not an extravagant sum by any means," Wynne said, noting that many people who are struggling in the province are employed part-time and need additional assistance to make ends meet.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.


Rich Americans live up to 15 years longer than poor peers, studies find
2017-04-06, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/us-news/2017/apr/06/us-healthcare-wealth-income-i...

Increasing inequality means wealthy Americans can now expect to live up to 15 years longer than their poor counterparts, reports in the British medical journal the Lancet have found. Researchers said these disparities appear to be worsened by the American health system itself, which relies on for-profit insurance companies, and is the most expensive in the world. Their conclusion? Treat healthcare as a human right. The Lancet studies looked at how the American health system affects inequality and structural racism, and how mass incarceration and the Affordable Care Act (ACA), also known as Obamacare, have changed public health. Among the studies key findings: the richest 1% live up to 15 years longer than the poorest 1%; the same gap in life expectancy widened in recent decades, making poverty a powerful indicator for death; more than one-third of low-income Americans avoid medical care because of costs; the poorest fifth of Americans pay twice as much for healthcare as a share of income; and life expectancy would have grown 51.1% more from 1983 to 2005 had mass incarceration not accelerated in the mid-1980s. The poorest Americans have suffered in particular, with life expectancies falling in some groups even while medicine has advanced. All of these health outcomes arrive in the context of widening general inequality. The share of total income going to the top 1% of earners has more than doubled since 1970.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.


Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.