How many of you recall a time in America when the income of a single school teacher or baker or salesman was enough to buy a home, have two cars, and raise a family? That used to be the norm. For three decades after World War II, we created the largest middle class the world had ever seen. During those years the wages of the typical American worker doubled, just as the size of the American economy doubled. More than a third of all workers belonged to a trade union — giving average workers the bargaining power necessary to get a large and growing share of the large and growing economic pie (now, fewer than 7 percent of private-sector workers are unionized). CEO pay then averaged about 40 times the pay of the typical worker (now it’s over 300 times). In those years the richest 1 percent took home 9 to 10 percent of total income (today the top 1 percent gets more than 20 percent). The tax rate on highest-income Americans never fell below 70 percent; under Dwight Eisenhower, a Republican, it was 91 percent (today the top tax rate is 39.6 percent). Some of this money was used to build the largest infrastructure project in our history, the Interstate Highway system; some to build the world’s largest and best system of free public education, and dramatically expand public higher education. We enacted the Civil Rights Act and Voting Rights Act to extend prosperity and participation to African-Americans; Medicare and Medicaid to reduce poverty among America’s seniors; and the Environmental Protection Act to help save our planet. And we made sure banking was boring.
Putin is actually much less popular among Russians who are hostile toward the West than among those with pro-Western views: http://fam.ag/1cEDuAN
LTMC: Indeed. Yet another reason why the U.S. should avoid unnecessary entanglements in the affairs of other countries. Their political culture is often asymmetrical in ways that make unintended consequences more likely. As Daniel Treisman notes in the article, the invasion of Crimea signals that “Putin has abandoned the strategy that has underwritten his political dominance for the last 14 years. And in doing so, he has bet the throne on an approach that is likely to fail.” Internal pressure alone may very well resolve this crisis without the necessity for U.S. intervention, diplomatic or otherwise.
"Fortunate is he who is favored in his lifetime
With praise and words of wisdom:
Evil counsel is often given
By those of evil heart,
Blessed is he who in his own lifetime
Is awarded praise and wit,
For ill counsel is often given
By mortal men to each other”
Odin at the Havamal.
Is Paul Ryan asshole of the day for saying that kids who get free lunches at school don’t have anyone at home who loves them?
Ryan insisted that liberals were only offering people “a full stomach and an empty soul.”
He then told a story of a “young boy from a very…
Charles Pierce, at Esquire.com, has dubbed this miscreant a “zombie-eyed granny-starver.” Not much in this latest revelation to dispute the notion…
Only 11 million light-years away, Centaurus A is the closest active galaxy to planet Earth. Spanning over 60,000 light-years, the peculiar elliptical galaxy, also known as NGC 5128, is featured in this sharp color image. Centaurus A is apparently the result of a collision of two otherwise normal galaxies resulting in a fantastic jumble of star clusters and imposing dark dust lanes. Near the galaxy’s center, left over cosmic debris is steadily being consumed by a central black hole with a billion times the mass of the Sun. As in other active galaxies, that process likely generates the radio, X-ray, and gamma-ray energy radiated by Centaurus A.
Credit: Tim Carruthers