June 8th, 2012 — 6:55pm
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Recent tax data recently led to a select group of families being labeled as “The Fortunate 400.” But before we look into where that name comes from, let’s consider something real quick.
There are hundreds of people who made more in one day of work than someone who pulls in just over six-figures a year. Much more in one day. Five times as much in fact, more in three-hours than he made in a year. Trying to argue that this is simply what happens in a capitalist economy gets a little bit fuzzy when you consider that although between the 1930s and the 1970s CEO pay increased by a modest four-percent, since the 1970s it has increased eight-fold while employee pay has remained stagnant:
The AFL-CIO reckons that the ratio of chief executive pay to median worker pay rose from 42-1 in 1980 to 343-1 in 2010. The average S&P 500 CEO now makes over $10 million a year, according to a report from the Institute for Policy Studies.
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May 25th, 2012 — 11:52am
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As our financial crisis deepens and the schisms between the haves and the have-nots continue to open, American drug laws and the prison system they’ve perpetuated are beginning to gather an increasingly harsh spotlight. But so what. It’s not like the War on Drugs, which started over forty-years ago in 1973, has done anything to increase the growing level of economic disparity in America… right?
A lot happened in 1973.
It was a few years after Nixon slammed the gold window shut, the waning hours of a decapitated Civil Rights movement, and the year we began to disentangle ourselves from Vietnam. But it also marks the genesis of the War on Drugs: the year the Rockefeller Drug Laws were passed. And that same year something funny happened: the income gap between black and white began to widen back out, instead of closing – as it had been up until 1973.
Did the start of the War on Drugs play a significant role in creating our present economic and social realities – where the average black family has eight-cents of wealth for every dollar owned by whites, and a black child is nine-times more likely than a white child to have a parent in prison?
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