Cognitive Dissonance

"Democracy! Bah! When I hear that I reach for my feather boa!" - Allen Ginsberg

Posts tagged income inequality

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This is America, Now: The Dow Hits a Record High With Household Income at a Decade Low

From The Atlantic:

Stocks surpassed the nominal record set in 2007, while the last recorded real median US household income was 8% lower than its 2007 peak.

This is where we are, in picture form:

image

image

Please, explain to me why this is good for the majority of people. Go ahead. Try. I’ll wait.

[ETA]: A sharp-eyed reader noticed the alignment of the graphs is wonky. Here’s the alignment corrected as best as I can manage

Filed under inequality income Politics Economy Dow Jones median income income inequality class war

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A new Pew Research Center survey of 2,048 adults finds that about two-thirds of the public (66%) believes there are “very strong” or “strong” conflicts between the rich and the poor—an increase of 19 percentage points since 2009.
More findings:
Nearly one-third of Americans say there are “very strong conflicts” between poor people and rich people, double the proportion that offered a similar view in July 2009.  
Conflicts between rich and poor now rank ahead of three other potential sources of group tension—between immigrants and the native born; between blacks and whites; and between young and old.
Younger adults, women, Democrats and African Americans are somewhat more likely than older people, men, Republicans, whites or Hispanics to say there are strong disagreements between rich and poor.
However, people’s perception of why the rich become rich has not changed much. Pew Research points out similar opinions to the ones below were found in 2008:

Pew uncovered one very interesting point:

The biggest increases in perceptions of class conflicts occurred among political liberals and Americans who say they are not affiliated with either major party. In each group the proportion who say there are major disagreements between rich and poor Americans increased by more than 20 percentage points since 2009.

Emphasis mine. Could this mean independents could be an even bigger influence than usual in 2012? And what does that mean for both parties? Maybe talking about jobs and the economy isn’t the worst move… The GOP’s constant denial of the existence of class warfare and incongruent insistence President Obama sparked it may also backfire.

A new Pew Research Center survey of 2,048 adults finds that about two-thirds of the public (66%) believes there are “very strong” or “strong” conflicts between the rich and the poor—an increase of 19 percentage points since 2009.

More findings:

  • Nearly one-third of Americans say there are “very strong conflicts” between poor people and rich people, double the proportion that offered a similar view in July 2009.  
  • Conflicts between rich and poor now rank ahead of three other potential sources of group tension—between immigrants and the native born; between blacks and whites; and between young and old.
  • Younger adults, women, Democrats and African Americans are somewhat more likely than older people, men, Republicans, whites or Hispanics to say there are strong disagreements between rich and poor.

However, people’s perception of why the rich become rich has not changed much. Pew Research points out similar opinions to the ones below were found in 2008:

Pew uncovered one very interesting point:

The biggest increases in perceptions of class conflicts occurred among political liberals and Americans who say they are not affiliated with either major party. In each group the proportion who say there are major disagreements between rich and poor Americans increased by more than 20 percentage points since 2009.

Emphasis mine. Could this mean independents could be an even bigger influence than usual in 2012? And what does that mean for both parties? Maybe talking about jobs and the economy isn’t the worst move… The GOP’s constant denial of the existence of class warfare and incongruent insistence President Obama sparked it may also backfire.

Filed under Income inequality inequality politics class GOP Democrats Republican Republicans rich class war poor poverty Election 2012

332 notes

You know, we have young people who are today occupying Wall Street, [saying] that there are some people out there that are making too much money. And if somebody were to ask me what’s the best advice that I could give them? It would be that money is probably the most highly overrated thing in the world from a standpoint of being happy with your life. It’s good to have some. Because I’ve been without and I’ve had some, and it’s better to have some.

But the fact is, uh, go find that passion in your life… what I’m saying here is that the vast majority of people don’t go do what they do in life with only the thought of ‘I’m gonna make some money.’

Rick Perry, speaking in Iowa on teachers, making money, and why the Occupy Wall Street folks just don’t have enough “passion.”

*Sigh* Fucking hell. 

Actually, you know what? That’s not true. I don’t hate the people freezing their asses off occupying Wall Street while Rick Perry sits in his ill-fitting suit of smug and remarks that money is overrated. It’s not about people having too much money. It’s about a significant amount of people not having any money in order to enrich a very small amount of those who already do.

Your pithy little admonishments to those at Occupy Wall Street to find their passion is completely and one hundred percent intellectually disingenuous. Many of those folks followed their passions, got a degree, and can’t find a goddamn job. They’re saddled with tens of thousands of dollars worth of debt after being told by snide little bastards like yourself to pursue that piece of paper representing their passion and employment prospects. My passion doesn’t pay the rent, and the utility companies don’t take passion as currency. 

Money is only irrelevant when you make a living wage and aren’t one missed paycheck away from homelessness. 

Fuck you with all the fucks I have left to give today.

Video:

(Source: rawstory.com)

Filed under Rick Perry Fuckery money Occupy Wall Street Fuck You Conservative conservatives GOP republican republicans Texas 2012 OWS poverty inequality injustice my rage is exponential income income inequality

39 notes

Why Did Eric Cantor Skip Out on His Inequality Speech? He Had Nothing To Say

Just two weeks after denouncing economic-justice protesters as an angry “mob,” House Majority Leader Eric Cantor (R-Va.) seemed to be shifting gears. Last Sunday, Cantor acknowledged the “warranted" frustrations of the middle class, and this week, was even poised to deliver a speech on economic inequality.

As it turns out, Cantor changed his mind. Yesterday, the oft-confused Majority Leader abruptly canceled, saying the University of Pennsylvania’s Wharton School invited the public to attend the speech, which meant Cantor would refuse to appear. The Republican appears to have been fibbing - university officials explained that the event had always been billed as “open to the general public,” and that Cantor’s accusation of a last-minute change in attendance policy simply wasn’t true.

That Cantor was afraid to talk about economic inequalities in front of the public is pretty ridiculous. That Cantor is making dishonest excuses makes matters slightly worse.

Emphasis mine. Why would Cantor not want to speak in front of the public? The school also notified him that protesters would be present. Either reason is not a good one for cancelling a speech. Citing the public being allowed to attend is just somewhat offensive. Looking at the text of his speech, it wasn’t anything new. For example, Cantor’s planned remarks included this gem:

It is this foundation — hard work, faith, family, and opportunity — that provides each of us with the prospects of unlimited potential in America. Each generation is able to get a little further ahead, climbing up the ladder of success in our society. How quickly you move up – or sometimes down – should be completely up to you. Much of the conversation in the current political debate today has been focused on fairness in our society. Republicans believe that what is fair is a hand up, not a hand out. We know that we all don’t begin life’s race from the same starting point. I was fortunate enough to be born into a stable family that provided me with the tools that I needed to get ahead. Not everyone is so lucky.

Read the full speech here. He includes nothing about how to give a “hand up” as he puts it, but who’s shocked that he did not address income inequality in a speech about income inequality, eh? …Anyone?

Filed under Eric Cantor Republican republicans politics University of Pennsylvania Pennsylvania inequality protest weasel income inequality American government economy UPenn Wharton Business School