Ten Bullets in the
Chamber of Inequality
Thousands of bloggers worldwide are posting stories about inequality today. Oxfam International has partnered with the annual Blog Action Day to boost a global discussion on glaring social contrasts affecting 7-billion plus of your fellow beings. Wherever you are on Earth, you know exactly what that’s all about.
We’ve chosen a popular format, the Top Ten List, and the world’s most powerful country for context. Far from comprehensive, however, no number of bullet points can explain why the haves have accumulated so much more than the have nots. Here’s what we’ve come up with so far.
BUDGET CUTS – Americans have yet another reason to be startled lately: the Ebola virus which, even if not quite the epidemic the media has been painting it, it’s still enough to worry. National Institute of Health’s Dr. Francis Collins offered a sound theory for why we’re having such a hard time controlling its spread, and treating the infected. Development of an Ebola vaccine has been hampered by years of budget cuts for scientific research. If it’s happening with the health scare du jour, picture what’s going on with more basic research, on illnesses affecting many more people. Funding for war, on the other hand, has continued to grow. That’s inequality.
FEDERAL JOBS – When politicians want to sound competent, they talk about balancing the budget. But it’s never implied what that really means: firing teachers, cops, firefighters, postal workers, i.e., those who serve the majority in this country, their families and children. With less of them having a decent paycheck to live on and provide to their own, more of us have to do their jobs ourselves, in a vicious cycle that only affects the middle to low classes. Since the rich can afford to hire private help, that’s inequality.
CONGRESS SALARIES – Last time the government was shut down, most of its activities were kept to a minimum, if not in a temporary freeze. Except salaries taxpayers pay their representatives – an average of $174,000 a year, never mind housing, living expenses, and the best health care available. Since the median American household income is $50,000, that is, my friends, inequality.
WEALTH RATIO – Speaking of it, a widely accepted way to measure it is the wealth to household income ratio. Now, according to a Credit Suisse report, it’s the highest it’s been since, wouldn’t you know it?, the Great Depression was about to crush America. Even the bank thinks that can’t be good. In ‘other’ news, the richest 1 percent now owns 48 percent of all the world’s wealth. We know, we were only focusing on the U.S. but just couldn’t help it. Mainly because, you guessed it, it’s inequality too.
WALL STREET EARNINGS – Which brings us ‘home,’ to the gilded realm of financial institutions, the same ones that brought the world to the brink of collapse with their 2008 excesses. As it turns out, they’re all doing quite well, thanks for not asking. In fact, the earnings season that’s just started may be one for the books, but it’s OK if you see, say, JPMorgan Chase, the biggest one, posting a $5.6 billion net income, and feel a little queasy. They literally broke the bank, got a taxpayer bailout, no CEO went to jail, and now are posting quarterly earnings in the billions; those folks sure know how to party in Lower Manhattan, and that, you working stiffs, is inequality.
CORPORATE TAXES – As one of the 243 million U.S. taxpayers, you know that the probability of being audited is not negligible: the currently understaffed IRS has called back only about two million Americans to explain their taxes, in 2011, one of its lowest numbers in years. But if you were one of what the Supreme Court considers people too, a big corporation, chances are, you wouldn’t be called at all. That’s because many of them don’t pay taxes. Even those that do, like Boeing, DuPont, Wells Fargo, Verizon, GE, and Dow Chemicals, of their combined profit realized between 2008 and 2010, each American got back the grand total of a penny in taxes.
WOMEN’S EQUAL PAY & RACIAL GAP – One can argue that structural and systemic flaws can often be a bigger factor in denying every citizen his or her due in society than race and class. But the fact that a woman still earns 77 cents for every dollar a man makes, doing the same work, and unemployment, imprisonment, and illiteracy, are higher for African-Americans is simply too overwhelming to ignore. While the wealth gap between white and black families nearly tripled from $85,000 in 1984 to $236,500 in 2009, according to the not-too-trusted Wikipedia, if you’re black AND a woman, things are even bleaker. A recent report cites bigger barriers to accessing care and healthy lifestyles, higher infant mortality, and fewer insured among both black and Hispanic women compared to whites. That’s a double yummy of race and class conspiring against the new majority of Americans. And that’s inequality. Continue reading →