A Quote by Julianne Malveaux
Interesting statistic: In every economic recovery until 1982, working people captured more than 80 percent of the value of the recovery. Since 1982, the top 10 percent has captured 90 percent of the value of the economic recovery.
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But of course, now we're told we're in recovery but this sure doesn't feel like a recovery to more than 9 percent of the Americans out there who are unemployed, or the 16 percent of the African-Americans, 11 percent of Hispanics in the same position, or the millions who can only find part-time work or those who have even stopped looking for a job.
Recently released government economic statistics covering 2010, the first year of real recovery from the financial collapse of 2008, found that fully 93 percent of additional income gains coming out of the recession went straight into the wallets and purses of the top 1 percent.
By 2015, the top 1 percent of families took home more than 20 percent of income. Wealth distribution was 10 times worse than that: the families in the top 1 percent owned as much as the families in the bottom 90 percent.
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
This is a very important issue that the corporate media chooses not to talk about a whole lot, that we have an economic system which is rigged, which means that at the same time as the middle class of this country is disappearing, almost all of the new income and wealth in America is going to the top 1 percent. You have the top one-tenth of 1 percent owning almost as much wealth as the bottom 90 percent - 58 percent of all new income is going to the top 1 percent.
From an economic perspective, women are treated unfairly: they perform 66 percent of the world's work and produce 50 percent of the food but they only earn 10 percent of the income and own 1 percent of the property.
I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery ... I consider it imperative that we do what we can to promote a very strong recovery.
This is what oligarchy looks like: Today, the top one-tenth of 1 percent owns almost as much wealth as the bottom 90 percent. The top one-hundredth of 1 percent makes more than 40 percent of all campaign contributions. The billionaire class owns the political system and reaps the benefits from it.
A government subsidized economic recovery, is not an economic recovery - it's an entitlement state.
What democratic socialism is about is saying that it is immoral and wrong that the top one-tenth of 1 percent in this country own almost 90 percent - almost - own almost as much wealth as the bottom 90 percent. That it is wrong, today, in a rigged economy, that 57 percent of all new income is going to the top 1 percent. That when you look around the world, you see every other major country providing health care to all people as a right, except the United States.
Maybe some percentage that’s substantially larger than 95 percent of VCs add zero value. I would bet that 70-80 percent add negative value to a startup in their advising.
You can forget about recovery. There is no recovery - and there's not going to be any recovery. Recovery is an impossibility.
There are a few things that we can do. One of them is that we can increase the taxes that people are paying who are the extremely wealthy in our communities. So, 70 percent, 80 percent, we've had it as high as 90 percent.
The real story in housing will be a recovery in the economy that will drive a recovery in housing, When people are working, when there are more jobs, more households forming and people go back to buying cars, they're going to want their apartments and homes. And that's when you'll start to see a recovery in home prices.
The world is likely to view any temporary extension of the income tax cuts for the top two percent as a prelude to a long-term or permanent extension, and that would hurt economic recovery as well by undermining confidence that we're prepared to make a commitment today to bring down our future deficits.
Forests are breaking out all over America. New England has more forests since the Civil War. In 1880, New York State was only 25 percent forested. Today it is more than 66 percent. In 1850, Vermont was only 35 percent forested. Now it's 76 percent forested and rising. In the south, more land is covered by forest than at any time in the last century. In 1936 a study found that 80 percent of piedmont Georgia was without trees. Today nearly 70 percent of the state is forested. In the last decade alone, America has added more than 10 million acres of forestland.
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