World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Elizabeth Warren’s claim that the bottom 90 percent got ‘zero percent’ of wage growth after Reagan - The Washington Post
Keywords:
The Congressional Budget Office report in 2011 shows after tax resource flow that a family has to pay for consumption, a better approach to measuring the growth in incomes since 1970 including government help to lower income people and gains in the stock market for upper class Americans. This report shows after tax resource flow for the top 1% in the U.S. tripled from 1970 to 2011. For the middle fifth of the distribution families experienced real net income gains of 36 percent, and the bottom fifth of the distribution real net income gain of 50 percent.This suggests gains of about 10 percent a year if averaged over 30 years for the top 1 percent compared to 1% a year for the middle fifth and 1.5% for the bottom fifth. The report was done in 2011 and this could skew the results. Between 2011 and 2015 the stock market recovered and this would suggest a much higher gain for the top 1% of incomes and the top 10%, while also providing improvement in incomes for the middle fifth and the bottom fifth as unemployment decreased. Working class and minimum wage slowly recovered, and interest income on savings extremely low, with large student and other household debt, so that even at 10-12% gains per year for the top 1%, and 1-2% for the middle fifth of the distribution and 1.5-2% for the bottom fifth the last three decades have not been good for working class and middle income Americans compared to the the period 1950-1970 early postwar period recovery.
Tax Policy Center research that shows $157 billion generated from increasing taxes on the over 1 million income earners in the top 1% in the U.S.
10/16/2015
The top 1% earn about $2.1 million on average and are considered to be the largest beneficiaries of tax and economic policy of recent decades, just as global competition severely hurt wages of factory workers. A Tax Policy Center (Brookings Institution and Urban Institute backed) study shows that increasing taxes on the 1.13 million households in the top 1% from a federal rate of 33.4% currently to 40% would generate $157 billion, enough to provide for tution free educaton in colleges and universities in the U.S., finance spending on infrastructure, and provide assistance to the middle class for high health premiums. Public opinion in the U.S. favors higher taxes for the top 1% to pay for programs that increase opportunity for the middle class and workers with low incomes. Education is a great leveler of income disparities over time, one of the reasons the U.S. offered tution free education to returning veterans after World War II. Incomes for people in this income group of the top 1% would still be about $1 million a year after the tax increase, according to the Tax Policy Center.
Grouped Articles
What Could Raising Taxes on the 1% Do? Surprising Amounts
New York Times 10/16/2015
Not There Yet on Equal Opportunity
Wall Street Journal 10/21/2015
Washington Post 10/23/2015
The New York Times 08/12/2016
Mark Sanford: I Support You, Donald Trump. Now Release Your Tax Returns.
The New York Times 08/15/2016
U.S. Household Incomes Surged 5.2% in 2015, First Gain Since 2007
WSJ 09/13/2016
Tech's hugely negative effect on Jobs- reports by the Economist magazine and other research showing severe effect on jobs and incomes
10/06/2014
One Oxford University study goes so far as to say 47% of U.S. jobs could be automated in the next 20 years. Clerical jobs are rapidly being automated and manufacturing can be done with a small number of workers.
Grouped Articles
Countering Tech’s Damaging Effect on Jobs
Wall Street Journal 10/15/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01/10/2015
U.S. Car-Making Boom? Not for Auto-Industry Workers
Wall Street Journal 03/24/2015
Washington Post 10/23/2015
Brexit: The Era of the Angry Voter Is Upon Us - SPIEGEL ONLINE
SPIEGEL ONLINE 07/06/2016
U.S. Federal Reserve report on the drop in incomes and net worth of American families between 2007-2010
01/02/2009
The Fed documents the impact of the financial crisis of 2008-2009 on American families. Half the middle class is dislocated financially by the crisis and minorites fare badly. Median incomes drop 8% and housing asset values drop an average of 42%. Median net worth down 39% taking it back to where it was in 1992. American families work down their debt, reducing credit card balances.
Grouped Articles
Wall Street Journal 09/14/2011
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
Americaâs Sinking Middle Class
New York Times 09/18/2013
Wall Street Journal 09/17/2010
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Wall Street Journal 04/04/2009
Efforts to reverse the decline in wages for factory workers in the U.S.- the automobile industry in 2015
09/18/2015
Grouped Articles
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
A stunning stat about pay seems impossible but actually is true - The Washington Post
Washington Post 09/22/2015
The CNN Democratic debate transcript, annotated - The Washington Post
Washington Post 10/14/2015
Washington Post 10/23/2015
America’s Inequality Problem: Real Income Gains Are Brief and Hard to Find
The New York Times 09/13/2016
The New York Times 09/16/2016
Faces of men who are unemployed or in part time work in the U.S. as one sixth of men 25-54 lack jobs in 2014
02/07/2012
The sharp decline in inflation adjusted wages for less skilled workers since 2000 and lack of decent paying jobs has led to many men too discouraged to look for work, and dependent on a spouse's income or government benefits. This is unlike any other post 1950's economic recovery in the U.S.
Grouped Articles
More Men in Prime Working Ages Don't Have Jobs
Wall Street Journal 02/06/2014
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
New York Times 02/08/2012
Hiring Rises, but Number of Jobless Stays High
New York Times 04/04/2014
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
A part-timer boom, or blip? - The Washington Post
Washington Post 07/16/2014
High unemployment and declining wages in the U.S.: 2010-2012
01/01/2010
Grouped Articles
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
Wall Street Journal 08/12/2013
No longer the land of opportunity - The Washington Post
Washington Post 01/05/2012
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
Falling Wages at Factories Squeeze the Middle Class
New York Times 11/20/2014
The impact of declining factory wages on the U.S. middle class 2004-2014
11/20/2014
Grouped Articles
Falling Wages at Factories Squeeze the Middle Class
New York Times 11/20/2014
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01/10/2015
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
Wall Street Journal 09/17/2015
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
A stunning stat about pay seems impossible but actually is true - The Washington Post
Washington Post 09/22/2015
Workers in U.S. manufacturing plants in 2015- global competition, U.S. competitiveness and downward pressure on wages
03/24/2015
Workers who were once in the middle class are now lower class as conditions have changed in the automobile and other U.S. manufacturing plants. As more jobs are created in manufacturing than in IT related industries, this is a significant factor in improving U.S. employment and wages. There is an 86% increase in imports of parts from Mexico since 2008, over double for China.
Grouped Articles
U.S. Car-Making Boom? Not for Auto-Industry Workers
Wall Street Journal 03/24/2015
U.S. Trade Gap Widens on Surging Imports
Wall Street Journal 05/06/2015
Dollar’s Rise Lifts Imports and Widens Trade Gap
New York Times 05/05/2015
Mexican Auto Production Sets Record in April
Wall Street Journal 05/07/2015
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
A stunning stat about pay seems impossible but actually is true - The Washington Post
Washington Post 09/22/2015
The U.S. unemployment picture September 2014- Underemployment U-6 at 11.8%, unemployment at 5.9%, and labor participation rate at 62.7%
10/04/2014
9.3 millon workers looking for fulltime work and decline in the labor participation rate reflected the true condition of labor market in the U.S., with wages dropping a penny, in September 2014. The unemployment rate dropped to 5.9% but failed to capture the true condition of the labor market for a number of reasons, including people too discouraged to look for work and people working part time when they would prefer working full time.
Grouped Articles
Job Growth Rebounds, but Wages Lag
Wall Street Journal 10/04/2014
Recipients of Jobless Benefits Down Sharply
Wall Street Journal 12/26/2014
Labor-Market Dropouts Stay on the Sidelines
Wall Street Journal 12/29/2014
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03/06/2015
Washington Post 10/23/2015
The drop in U.S. productivity from 2.9% for 1995 to 2005 to 1.3% since 2005, and 0.3% since 2010
05/15/2015
Alan Blinder, former vice chairman of the Fed discusses the alarming drop in productivity growth in the U.S. and what this means for maintaining living standards and growth in incomes. Britain is experiencing a lack of growth in productivity leading to declining real wages. China and other emerging markets are also experiencing weak productivity growth.
Grouped Articles
The Mystery of Declining Productivity Growth
Wall Street Journal 05/15/2015
New York Times 05/25/2015
Goldman Sachs and J.P. Morgan Can’t Agree Why the Economy’s Productivity Has Slumped
Wall Street Journal 06/16/2015
Washington Post 10/23/2015
A Trump Economic Boom? The Fed May Stand in the Way
The New York Times 12/13/2016
Will the Trump Era Bring Higher Interest Rates? Don’t Count On It
The New York Times 12/14/2016
How teachers, firefighters and service workers union joined the opposition to the TPP and granting fast track trade authority in 2015, and why
06/12/2015
Firefighters and other service workers unions actively campaigned against the trade bills in Congress for the first time in 2015. The public sector unions now see how the closing of American factories, the decline in neighborhoods near plants, affects the demand for public services and the ability of cities and municipalities to pay for the public services. The decline in wages for industrial workers creates a negative perception for the higher wages in the public sector, reducing support from struggling industrial workers. The drastic drop in factory wages with globalization and the shrinking revenues of cities as incomes decline, is leading to a realization in labor that workers are affected in many ways by seemingly unrelated developments in trade and globalization. Another development is the expert information that shows the need for investment in infrastructure in the poorer countries of Latin America, and in the U.S., which would provide significant benefits. The benefits from trade tariff reduction are now small, as most of the benefits were achieved through earlier action in trade.
Grouped Articles
Labor’s Might Seen in Failure of Trade Deal as Unions Allied to Thwart It
New York Times 06/13/2015
Washington Dysfunction, With a Twist: Democrats Desert Their President
New York Times 06/12/2015
Unions Declare Partial Victory Against Obama’s Pacific Trade Deal
Wall Street Journal 06/15/2015
Washington Post 10/23/2015
McConnell warns that trade deal can’t pass Congress before 2016 elections - The Washington Post
Washington Post 12/11/2015
Trans-Pacific Trade Pact Would Lift U.S. Incomes, but Not Jobs Overall, Study Says
New York Times 01/25/2016
Tackling middle class poverty in the U.S.- causes and strategies
03/11/2009
Shrinking incomes, low job growth, growth in temporary jobs, offshoring of jobs, are part of a trend since 1989. This is compounded by acceleration of developments during the last decade of low savings and paltry return on savings, effects on net worth of the financial crisis of 2008 through job losses, lost income, foreclosures, high cost of health care and college tution for children. The combination is creating a new kind of middle class poverty in the U.S. The Obama administration has pushed for college education even as it is becoming less affordable and neglected jobs training. The push to raise the minimum wage helps the poor but does not do as much for the middle class.
Grouped Articles
Wall Street Journal 09/14/2011
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
8 States to Raise Minimum Wage
New York Times 12/23/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
New York Times 02/10/2010
College and University Food Bank Alliance and increasing reliance of low income household students on food pantries
04/08/2015
The College and University Food Bank Alliance has 183 members. With increases in tution of about 25% at U.S. universities and colleges since 2007, more students from low income households are having to reduce meals or use a food bank. About 40% of students in the UC system are from households with incomes less than $50,000 in 2015. Wage stagnation in the U.S. as food costs increase is also leading to more students having full tution aid depending on supplemental ways of meeting food costs. This is affecting the ability of students to study leading the UC system head, Janet Napolitano, to get a a study on food hunger.
Grouped Articles
Colleges Launch Food Pantries to Help Low-Income Students
Wall Street Journal 04/08/2015
College Majors Figure Big in Earnings
Wall Street Journal 05/07/2015
What Could Raising Taxes on the 1% Do? Surprising Amounts
New York Times 10/16/2015
A Better Way to Measure Poverty
Wall Street Journal 10/19/2015
Washington Post 10/23/2015
U.S. Household Incomes Surged 5.2% in 2015, First Gain Since 2007
WSJ 09/13/2016
Employees and wages at Apple's retail stores
05/29/2010
About 30,000 of the 43,000 employees at Apple's U.S. operations are hourly workers. Most are in their early twenties paid about $12 an hour with health care benefits. Their is no career path for most workers and most leave after a couple of years for other work.
Grouped Articles
Wall Street Journal 05/29/2010
Wall Street Journal 01/06/2012
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
Apple Says App Store Sales Rose 50% in 2014
Wall Street Journal 01/09/2015
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
The New Jobs Report Shows Janet Yellen’s Quandary in a Nutshell
New York Times 03/06/2015
Focus on wages, income disparities, rising inequality, and a shrinking middle class in the first Democratic debate, for the U.S. 2016 presidential election
10/14/2015
O'Malley, Sanders and Clinton emphasize this issue in the debate.
Grouped Articles
The CNN Democratic debate transcript, annotated - The Washington Post
Washington Post 10/14/2015
Democrats Say the Economy Stinks
Wall Street Journal 10/15/2015
Clinton, judged winner of debate, holds big national lead over Sanders - The Washington Post
Washington Post 10/20/2015
Not There Yet on Equal Opportunity
Wall Street Journal 10/21/2015
Washington Post 10/23/2015
Paris massacre could alter the 2016 presidential race in this country - The Washington Post
Washington Post 11/15/2015
Poverty among white Americans in 2010-2015
03/11/2009
A previous generation could count on good jobs in manufacturing with only a high school education. The last two decades of globalization have hit manufacturing jobs and wages in the U.S. hard and the impact is greatest on people without a college education. Other problems aggravating income and causing poverty is the increase of dropout rates from the labor force of young white American men, the effects of drug use and the lack of stable marraiges. This creates an underclass of whites in America, similiar to the underclass among minorities.
Grouped Articles
Racial Wealth Gap Widened During Recession
New York Times 04/28/2013
Wall Street Journal 09/14/2011
New York Times 06/22/2013
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
U.S. Schools Chief Arne Duncan Labors to Straddle Political Divide
Wall Street Journal 07/22/2013
New York Times 02/10/2010
The other roots of increasing inequality in the U.S.- global competition and sourcing, the case of the U.S. auto industry and manufacturing workers
03/24/2015
Auto parts imports into the U.S. from Mexico have increased by 86% since 2008, more than doubled for China. As wages rise in China, India is the next source country for low cost automobile parts from auto industry hubs in Gujarat and Tamilnadu, placing continuous downward pressure on manufacturing wages for the next decade, and the next. Parts imports were $32 billion in 1990, $138 billion in 2014. Workers in manufacturing make as low as $10 an hour today, similar to workers at Wal-Mart. An entire generation of manufacturing workers are now shifted from middle class to lower class from their parents generation to their own, reducing educational mobility in the American system and fewer opportunities for improvement. As more jobs are created in manufacturing than in IT related industries this is a significant hurdle for improving wages and employment in the U.S.
Grouped Articles
U.S. Car-Making Boom? Not for Auto-Industry Workers
Wall Street Journal 03/24/2015
Income Inequality Is Costing the U.S. on Social Issues
New York Times 04/28/2015
Economic-Ladder Concerns Trump Income Gap in Poll
Wall Street Journal 05/05/2015
Sanders, Corbyn and the coming debate inside the Democratic Party - The Washington Post
Washington Post 09/13/2015
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
A stunning stat about pay seems impossible but actually is true - The Washington Post
Washington Post 09/22/2015
Wal-Mart, Target stores, TJX in 2015- efforts to raise the U.S. minimum wage, and competition for lower wage workers
05/16/2014
Wal-Mart, Target stores, and TJX raise the wages to over $9 per hour in 2015.
Grouped Articles
Wal-Mart Says It Won't Oppose Increase in Minimum Wage
Wall Street Journal 05/16/2014
Strong Voice in ‘Fight for 15’ Fast-Food Wage Campaign
New York Times 12/04/2014
Wal-Mart Raising Wages as Market Gets Tighter
Wall Street Journal 02/20/2015
Wal-Mart’s Raises Reflect Tighter Jobs Market
Wall Street Journal 02/20/2015
Wall Street Journal 02/20/2015
Target to Increase Wages to At Least $9/Hour for All Workers in April
Wall Street Journal 03/19/2015
The problem of declining wages and rising inflation in the U.S. - 2011-2012
01/01/2010
Grouped Articles
OECD report cites rising income inequality - The Washington Post
Washington Post 12/06/2011
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
Job Growth Fails to Help Paychecks of Workers
New York Times 01/09/2015
Hiring Booms, but Soft Wages Linger
Wall Street Journal 01/10/2015
Sluggish Productivity Hampers Wage Gains
Wall Street Journal 03/07/2015
U.A.W. Contract With Fiat Chrysler Would Give 2nd-Tier Workers Big Raise
New York Times 09/18/2015
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us