Daily Archives: August 24, 2021

2021-08-24: News Headlines

oliviaalperstein (2021-08-24). American Billionaires Got 62% Richer During Pandemic — Almost All That Wealth Growth Will Go Income-Tax Free, Showing Need For Biden's Tax Reforms & Investment Plans. ips-dc.org Billionaires' Collective Fortune Grew $1.8 Trillion Over 17 Months, Enough to Pay for Over Half of Biden's Proposed $3.5 Trillion Investment in Healthcare, Education & More…

oliviaalperstein (2021-08-24). U.S. Billionaires Got 62 percent Richer During Pandemic. They're Now Up $1.8 Trillion. ips-dc.org U.S. billionaires have seen their wealth surge $1.8 trillion during the pandemic, their collective fortune skyrocketing by nearly two-thirds (62 percent) from just short of $3 trillion at the start of the COVID crisis on March 18, 2020, to $4.8 trillion on August 17, 2021, according to a report from Americans for Tax Fairness (ATF) and the Institute for Policy Studies Program on Inequality (IPS). A table of the top 15 billionaires is below and the Elon Musk has seen his wealt…

TASS (2021-08-24). Pandemic pushes 80 mln people in Asia to extreme poverty — Asian Development Bank. tass.com As of 2017, about 203 mln people, or 5.2% of the population of developing countries in Asia, lived in extreme poverty. Without COVID-19, this number would have dropped to 2.6% in 2020…

Chuck Collins — Helen Flannery (2021-08-24). Warehousing Wealth in Donor-Advised Funds. counterpunch.org As the concentration of wealth among the top 0.1 percent has grown, philanthropy has become more "top heavy." The number of middle-income donations is shrinking and most of the growth in annual charitable giving is coming from the very wealthy. This is concerning because wealthier donors generally give to intermediaries such as their own private

Olivia Engling (2021-08-24). IMF Creates Historic $650 Billion in Emergency Funds to Fight Pandemic. indybay.org Jubilee USA Estimates Wealthy G7 Countries Receive $280 billion and Developing Countries Receive $230 billion from an IMF Currency Creation…

Sarah Anderson (2021-08-23). Win for Gig Workers: California Rules Uber Can't Hack Labor Laws. inequality.org

PAI (2021-08-23). Study: Unionization cut poverty rates by more than two-thirds. peoplesworld.org MINNEAPOLIS (PAI)—It may be stating the obvious, but a new study of U.S. wage data over decades reveals unionization cuts poverty rates by more than two-thirds. Only 5.9% of families with at least one union member lived in poverty, compared to 18.9% of families without union members, it says. The data, analyzed by University of …

Graham Peebles (2021-08-23). The Poison of Nationalism. counterpunch.org Once upon a time Nationalism was an ideology reserved for extremists. But in recent years it has moved from the irrelevant fractious fringes to become a central movement in western politics. Rooted in fear, it feeds on tribal instincts and has become mainstream by offering oversimplified explanations to complex problems, such as poverty and immigration.

_____ (2021-08-23). Unemployment Cuts Made People Poorer Without Increasing Employment. popularresistance.org Six academics, including Arin Dube and Suresh Naidu, released a paper last week estimating the impact of the massive unemployment benefit cuts that occurred in twenty-two states in June. The team was able to use bank transaction data and comparisons to unemployment benefit recipients in states that did not cut benefits to get precise estimates of both the employment and income effects of the policy change.

_____ (2021-08-23). Recent Unemployment Cuts Made People Poorer Without Increasing Employment. popularresistance.org Six academics, including Arin Dube and Suresh Naidu, released a paper last week estimating the impact of the massive unemployment benefit cuts that occurred in twenty-two states in June. The team was able to use bank transaction data and comparisons to unemployment benefit recipients in states that did not cut benefits to get precise estimates of both the employment and income effects of the policy change.

Prabhat Patnaik (2021-08-23). Imperialism Then and Now: Wealth, Unemployment, and Insufficient Demand- Pt 1/3. mronline.org Hello and welcome. I'm Lynn Fries producer of Global Political Economy or GPEnewsdocs. Today's guest is Prabhat Patnaik. He is talking about his read on the history of capitalism that he breaks up into 5 periods from colonialism into the present.

Ben Radford (2021-08-23). Vaccine inequity and the fight for a people's vaccine. greenleft.org.au As some of the world's wealthiest countries move closer towards fully vaccinating their populations against COVID-19, there could not be a starker contrast when looking at countries in the Global South, writes Ben Radford.

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