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Saturday, October 7, 2017

It Figures

In its online October issue, New Yorker Magazine reported that Donald Trump complained to Secretary of State Rex Tillerson that laws prohibiting U.S. companies from bribing foreign officials unfairly penalized businesses in the U.S.

Why am I not surprised?

Wednesday, October 4, 2017

Our Gun Culture

Bodhi Mickie has family members and friends who take their Second Amendment rights seriously, among them some with open-carry licenses.  But none, I know, would  consider equating those rights with what took place in Las Vegas a couple of days ago.

First of all, the Second Amendment is not an open-ended invitation to acquire firearms.  It was intended only to allow enough of same to provide the material for a well-regulated militia, something the British government had frowned upon among its colonies. The Amendment reads:

A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.

Note there's no mention of semi-automatic weapons, let alone automatic ones that can support 1000-round ammunition clips.  Yet it's formidable items like those that have come to distinguish the United States in the eyes of the world.  Know this - we own nearly half of all civilian-owned guns on the planet.  We're waaay ahead of the pack, with 310 million firearms; India is a distant second with about 46 million.

Not the kind of statistic one can be proud of ...

Work Longer!

In the science fiction film When Worlds Collide, there’s a scene in which those attempting to save humanity from Earth’s impending destruction are urged, in a harsh, discordant tone, to work harder!

If that sounds vaguely familiar, it might be because leading Republicans often have opined something similar.  Trouble is,  it my be an integral part of their economic plan.

Some, like former Florida governor Jeb Bush, have stated that people should work longer hours if the economy is to achieve faster and larger growth.  But Jeb, longer hours most likely would make no difference to the economy because most Americans already work more than 40 hours a week.

According to a 2014 Gallup poll, at least 40% of full-time workers put in more than 50 hours each week on the job.

During the debate in the House of Representatives over the Affordable Care Act, Representative Alan Grayson of Florida said the Republicans’ health care plan for America was Don’t get sick.   Now it seems a metaphor for Republican economic plans can be gleaned from When Worlds Collide.

Tuesday, October 3, 2017

The Man Is Full of Sh*t

The man being Steve Bannon.  Today it's reported that Bannon showed more concern for the effect of the Las Vegas shootings on the Trump -political base than for victims of the rampage.

Bannon was quoted as saying that the reaction from Trump’s base would be ... worse if he made a deal with Democrats on gun control than if he supported comprehensive immigration reform.

It will be the end of everything Bannon told Axios in a text message.

Monday, October 2, 2017

They're Nuts

I didn't know about it till it came up in a search today.  But given the events in Las Vegas last night, I wanted to make you all aware of this.

In late June of this year, the Pennsylvania Senate passed legislation that would allow public school employees to bring guns onto school grounds.

One of Government's Core Functions Is to Regulate Evil

That's Senator Chris Murphy's summary of what should be done in the aftermath of the massacre in Las Vegas.  Murphy knows whereof he speaks.  He's one of the Senators from Connecticut, site of the Sandy Hook Elementary School mass killing.

His response was to a tweet from Kentucky Governor Matt Bevin, which < 140 said in part that those who cite the tragedy in Las Vegas as evidence of the need for more regulation of guns are political opportunists.

Kudos to Murphy for speaking truth to the power of the gun lobby.

Sunday, October 1, 2017

Our Top 10% Owns 77%

This past Wednesday, the Federal Reserve released the outcome of its 2016 Survey of Consumer Finances.  It's a bit of a grim picture.

The first graph below shows the wealth level at each percentile of distribution; note that wealth is overwhelmingly concentrated at the top of society.

Use regions/landmarks to skip ahead to chart.

Wealth Level By Percentile (2016)

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Wealth PercentileWealth Level in Millions of $ By Percentile (2016)020406080100-2.5M02.5M5M7.5M10M12.5MSource: Survey of Consumer Finances69 Wealth: $266,680

The next graph shows the percent of wealth owned by each decile, that is, by each 10% of the population.  So, you can see that while the bottom 10 percent of us owns 0.5 percent of the wealth in the country, the top 10 percent owns 77.1 percent of it.

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Wealth Share By Wealth Decile (2016)

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Wealth DecileWealth Share By Wealth Decile (2016)-0.5%-0.5%0%0%0.2%0.2%0.5%0.5%1.1%1.1%1.9%1.9%3.2%3.2%5.4%5.4%11.2%11.2%77.1%77.1%246810-20%0%20%40%60%80%100%Source: Survey of Consumer Finances

Finally, let's see what percent of national wealth is owned by the top 1 percent of families.

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Wealth Share of the Top 1%

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Wealth Share of the Top 1%19901995200020052010201528%30%32%34%36%38%40%Source: Survey of Consumer Finances2013 Share: 35.5%

In 1989, the top 1 percent owned 29.9 percent of our country's wealth.  Today, that's up to 38.5 percent.

A possible clue to the dwindling of the middle class?