https://www.jennysgift.org/latest-news daily 0.75 2019-02-14 https://www.jennysgift.org/latest-news/2019/2/14/having-a-good-job-in-america-no-longer-makes-you-financially-secure monthly 0.5 2019-02-14 https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1550167274843-CW0SR40MCYUNAYU0OHM5/Having+a+%27good%27+job+no+longer+means.jpg Latest News - Having a 'good' job in America no longer makes you financially secure https://www.jennysgift.org/latest-news/2019/1/22/worlds-26-richest-people-have-as-much-wealth-as-the-poorest-50-percent-of-humanity-report-says monthly 0.5 2019-01-22 https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1548165280595-7Q5P7IGW3BE2NDHA2U2L/Oxfam.png Latest News - WORLD'S 26 RICHEST PEOPLE HAVE AS MUCH WEALTH AS THE POOREST 50 PERCENT OF HUMANITY, REPORT SAYS https://www.jennysgift.org/home daily 1.0 2019-03-06 https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547835113284-9I685W5L5QFBTJKWIJ8S/PayPal+Button.gif.jpg Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547679326011-ODS2C4DY4TTRHANQ94HB/20140410_173924.jpg Home Donec consectetur, odio eget porta varius, orci mauris viverra ante, eget egestas turpis sapien vel orci. https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1548090275187-Z25WI0SMYBDG2VC4L33L/Nick%27s+Signature.jpg Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1548090421519-HK57E5ABLDXKD3IQRX7T/Craig%27s+Signature.jpg Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547680245996-V8SXCUG1GQONMRJ7RRLK/CraigHS10.jpg Home Donec consectetur, odio eget porta varius, orci mauris viverra ante, eget egestas turpis sapien vel orci. https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547744782889-3XZ3H0P0ROGEX9QIP61D/The+Surging+Rank+of+America%27s+Ultra+Poor+with+no+Headline.png Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547745191743-WRCG0VHBKNL8IQMIIWM5/A+Woman+Handing+a+Heart.jpg Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547750062774-QLOKYVVREJ54KB4I6ELV/Despite+Strong+Economy+Many+American%27s+Struggle.png Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547841499726-KROPBGO56S8ASKDWKN47/Foreclosure.jpg.png Home https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547873602572-QRUAXQVI2MJQ8U6RPA23/Yellow+Box.png Home - FACTS & FIGURES LEARN MORE → https://www.jennysgift.org/facts-figures daily 0.75 2019-01-21 https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547936337775-QHFRF5R0SBD4TRR7EF5C/Income+Inequality.jpg Facts & Figures Homelessness, as seen in this 2016 photo from Division Street in San Francisco, is one manifestation of increasing economic inequality. (Eric Risberg / Associated Press) https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547943098422-JR04OSAY1WKXRY2G8WR2/Tracking+American+Poverty.jpg Facts & Figures The bottom 50% still own a larger share of national income than the 1% in Western Europe. (WID) https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547946410988-QZ4DGN1VKUEAK34B9787/Poverty+Hurts.jpg Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547946369973-0NL3KSU141NXU66PHEWD/Global+Child+Poverty+Rates.jpg Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1548096128245-NMZY0NCBZ677D0H29SOU/1+in+8+go+to+bed+hungry.jpg Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547946472334-8AIQ81UX412ANJV3Y9ME/Poverty+Cycle.png Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547946281492-FUF4VCY6MJ03J5KYD6P9/Chart+5.jpg Facts & Figures Following the U.S. trend would lead to devastating levels of inequality; following national trends would make things worse though not as much; and following the EU's trend line since 1980 would begin to narrow the gap between rich and poor. (WID) The choices are easy to identify, but increasingly difficult to implement as the 1% grow more politically powerful. Among the keys to reducing economic inequality are progressive tax systems, inheritance taxes and public investment in education, health and the environment. In recent years, all three have moved in the wrong direction in the U.S. Tax progressivity has been sharply reduced, most recently with the tax cuts last December. Inheritance taxes also have been reduced. Public education in the K-12 and university levels is being stifled, and the one initiative aimed at improving health, the Affordable Care Act, has been under constant attack from conservatives fronting for the wealthy. The Trump administration has been pursuing a focused campaign to dismantle environmental protections. These charts reveal how these trends have resulted in inequality and betoken even more in the future. What choices will be made in the U.S. and the rest of the developed world in years to come? https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547946100552-LFE9EO4DLRX7XUDM1QZT/Chart+4.jpg Facts & Figures At current rates, the share of wealth held by the top 0.1% will match that of the middle 40% by 2050. The wealth of the top 1% will easily outdistance the middle class. (WID) But it doesn’t have to be that way. Countries have a choice — whether to continue their current trends, which would mean increasing inequality, follow the U.S. model, which would increase inequality even more, or follow the European Union trend line, which would narrow the gap between the top 1% and the bottom 50%. https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547944012568-ZKMMFRN81FST6DX6P1Q7/Nations+Report+Card.png Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547944819961-L65DBKDIE9JN80Z0W7G8/Inequality+by+the+numbers.jpg Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547943150884-VIDBZQVLBETXEHEBHOFA/Chart+2.jpg Facts & Figures The bottom 50% still own a larger share of national income than the 1% in Western Europe. (WID) What may be most remarkable about this trend is how sharply it diverges from conditions in the region that most resembles the U.S. in terms of economic principles, Western Europe. The 1% commanded about 10% of national income in Europe in 1980, about the same as its share in the U.S. But its share rose only to about 12% in 2016, compared with 20% in the U.S. Consequently, the bottom 50% in Western Europe still possess a larger share of national income than the top 1%, the reverse of the situation in the United States. https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547944144231-R3NRRXFJ96HYCAPTP15F/Currently+1%25.jpg Facts & Figures https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547943212529-IC71VPTEE62SHTYXVJO4/Elephant+Curve.jpg Facts & Figures The wealth of the top 1% begets more wealth, at the expense of everyone else. Even the poorest of the 1% — those with incomes between percentiles 99 and 99.1 — saw income growth of 74% from 1980 to 2016. (WID) Globally, the prosperity of the top echelons feeds upon itself, forcing stagnation on income groups below them. The result is the “elephant curve” of global inequality, so named because it resembles the profile of a trumpeting pachyderm. https://images.squarespace-cdn.com/content/v1/5a820c9032601eabf162ec35/1547945762100-KNKRHL5K19YXTXLL38GP/Chart+3.jpg Facts & Figures The value of private capital has soared in developed countries as public capital declines. In the U.S. (blue line) and Britain (orange), the value of public capital is now negative. (WID) An oft-overlooked phenomenon that both reflects and contributes to rising inequality is the decline of public capital in the developed world, especially when compared to the growth of private capital. The trend hamstrings government efforts to address economic inequality by impoverishing programs that would give middle- and low-income citizens help climbing the economic ladder, such as public education. “Since 1980, very large transfers of public to private wealth occurred in nearly all countries, whether rich or emerging,” the WID reports. “While national wealth has substantially increased, public wealth is now negative or close to zero in rich countries.” Those include the United States, where public capital has fallen to a negative figure. That’s because public capital is defined as public assets minus public debt. The U.S. has borrowed heavily for purposes that include funding tax cuts for the wealthy. That’s effectively a transfer of wealth from the public to rich private individuals, and it’s likely to intensify in coming years, as the country borrows to fund the $1.5-trillion tax cut enacted in December to benefit corporations and the rich. Republicans in Congress already are talking about the need to cut back on programs that benefit the middle and working classes, such as Social Security and Medicare, because the nation “can’t afford” them. 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