Frank Fear: Many families have faced (and will face) a knotty micro-reality: their children may not be able to provide their kids with the range of advantages they experienced in youth.
RJ Eskow: The Democratic Party’s fixation on “paying for” every new initiative may have been its greatest blunder of the last thirty years.
Michael T. Hertz: Relative to wages, the cost of housing, education, medical care, retirement, food, and clothing has skyrocketed. And fewer and fewer people have been able to enjoy the things that Roosevelt pointed to as minimum rights for all of us.
Ellen Brown: The president has criticized Federal Reserve policy for undermining his attempts to build the economy. To best make the central bank serve the needs of the economy, it needs to be transformed into a public utility.
Lawrence Wittner: In 1964, the top marginal tax rate was reduced to 70 percent, in 1982 to 50 percent, and, in 1988, to 28 percent.
Roger Lowenstein challenged the widely-held opinion that Lloyd Blankfein, outgoing CEO of Goldman Sachs, is a bad person who has done a great deal of harm to the economy. In this case, the wisdom of crowds got it right.
RJ Eskow: Geithner made some (presumably unwelcome) news last week when it was reported that Warburg Pincus, the financial firm he now helms, is in the words of one employee, “monetizing poor people.”
Larry Wines: We cannot afford to maintain public works infrastructure to have lead-free drinking water and pothole-free roads. But we can spend hundreds of millions to give tax cuts to the richest among us.
Ellen Brown: California legislators exploring the public bank option may be breaking not just from Wall Street but from the Federal Reserve.
Anastasia Bernoulli: From personal experience, by the time a person even tells others that they’re struggling financially, they’ve already sold everything they could.
John Peeler: The main burden of Buchanan’s economic theory was the argument that all economic actors, including government functionaries and legislators, are individuals seeking to maximize their self-interest.
Bill Blum: There is nowhere in the country where someone working a full-time minimum-wage job could afford to rent a modest two-bedroom apartment. Not even in Arkansas, the state with the cheapest housing.
John Peeler: White working class people don’t typically want a guaranteed annual income regardless of employment: they want jobs that pay enough for a decent standard of living.