TRUMP’S TAX CUT FAILURE:
Nothing Has Trickled Down
Robert Reich is one of the most respected economists in the United States. Robert is an American economic advisor, teacher, author, and political commentator. He served in the administrations of Presidents Gerald Ford, Jimmy Carter, and Bill Clinton. He was Secretary of Labor from 1993 to 1997. Reich has a lot to say about the stupidity of the Trump Tax Cuts and why those tax cuts are damaging the United States financial well-being. Time to get real about taxes and how they effect the economy.
Growing Wealth Inequality:
A Danger Sign for Democracy
By D.S. Mitchell & Jones William
Wealth inequality occurs when income and assets are unevenly distributed within a group of people, or society. There are at least three measures of that distribution of wealth. Economic inequality is generally grouped into three categories; pay, income and wealth.
Pay is the amount received from employment only. Pay can be based on an hourly, weekly, monthly or yearly basis. Pay may also include bonuses and benefits. Pay inequality: the difference between individuals’ pay across all 50 states (or within one company).
Income includes all the money received through pay, investments, state benefits, rent, pensions (personal, company, state) and savings. Income is calculated on an individual or household basis. Income inequality, is the disparity of money streams between groups and individuals.
Wealth is the total assets of an individual or household. It includes all assets of value: bonds, stocks, pensions, art, jewelry, boats, planes, automobiles, savings, investments, and real estate. Wealth is a collection of assets minus liabilities. Wealth inequality, is the difference between the valuation of all assets owned by groups or individuals.