Topic: Income Inequality

Ted Cruz Tx
Cruz claims the single biggest lie in politics is that Republicans are the party of the rich. But is it really the truth?
The data show wealthy Americans are not universally Republican, though they tend to lean and vote that way. Cruz never really explains why he believes this is the “biggest lie.” Instead, he attacks President Obama for presiding over an increase in income inequality and says that the president’s policies, such as the health-care law, have negatively affected “young people, Hispanics, African Americans, single moms.
Neera Tanden Center For American Progress
"95 percent of the income gains in the last few years have gone to the top 1 percent."
Tanden was commenting on the Supreme Court’s 6-2 decision allowing states to effectively ban affirmative action. She accurately reflected the findings of a much publicized report, however some other studies show slight differences.
Alicia Menendez HuffPost Live
"A white family is likely to have about six times as much wealth than a black or Hispanic family coming out of the recession."
A study from the Urban Institute supports her statistic. Other research shows an even wider gap, further proving her point that race is a factor in U.S. wealth.
Americans For Prosperity
Washington Post debunks Americans for Prosperity ads criticizing Obamacare.
Americans for Prosperity, the limited-government group sponsored by the Koch brothers has spent $35 million attacking Democrats over the Affordable Care Act, but their new expensive ads are false.
Hillary Clinton
"Canadian middle class incomes are now higher than in the US. They are working fewer hours for more pay, … living longer, and facing less income inequality."
It is true that Canadian middle class incomes are now higher than in the United States. They are working fewer hours for more pay, living longer on average, and facing less income inequality."  Her claim that Canada provides a better safety net is hard to measure statistically.
Elizabeth Warren Sen Mass
"Today, the five largest financial institutions are 38 percent bigger than they were back in 2008, when they were too big to fail."
Politifact experts took some issue with her loose characterization of "too big too fail" but her underlying point is largely accurate and verified by financial facts.
Barack Obama
How does the deficit and spending compare in Bush and Obama administrations?
Charts from Budget of the United States Government: Historical Tables Fiscal Year 2015 show spending by Bush increased 88%, while spending increased only 3.78% under Obama.  Deficit increased to $1.4 trillion under Bush.  Under Obama deficits have been reduced by about half to $.6 trillion.  We have gone from losing around 850,000 jobs a month under Bush, to gaining over 200,000 jobs a month under Obama.
Warren Buffett
Warren Buffett thinks it's a problem that some of the wealthiest Americans pay lower tax rates than their housekeepers.
Currently income earned from stock dividends and capital gains is taxed at rates far lower than ordinary income from work.  This increases income inequality and penalizes the middle and working class. Even with lucrative loopholes corporations are fleeing overseas to pay even less.
Business Insider reviews the history of taxes and economy and shares THE TRUTH ABOUT TAXES.
"Historical analysis shows that for most of the century, including some boom times, top-bracket income tax rates were much higher than they are today.".. "History shows super-high tax rates on rich people do not appear to hurt the economy.".. "Periods of very low tax rates have been followed by periods with very high tax rates, and vice versa. So history suggests that tax rates will soon start going up."
Janet Yellen Economist
Yellen, American economist and Chair of the Board of Governors of the Federal Reserve System, says "inequality is downright un-American" and has "ill effects on the economy."
"Income and wealth inequality are near their highest levels in the past hundred years." Her comments come after the Swiss bank Credit Suisse recently warned that inequality in the U.S. is at levels that have been associated with recessions in the past.
Rick Perry Gov Tx
Perry said this week that income inequality is not a problem in Texas. "Biblically, the poor are always going to be with us in some form or fashion."
 The facts are, Texas has the 13th highest poverty rate in the United States. Texas is one of nine states with the highest levels of income inequality. Texas has created over a million jobs since the recession began. But it has also added a quarter million more part-time workers who want full-time jobs. Mark 14:7 says the poor will be with you but it does not say to ignore them.
Jeb Bush Fl
America lags behind most every developed country in terms of being able to move up the economic ladder.
The American dream that hard work could pay off is want made America great, but evidence shows that is no longer true. Bush says that we must fix our education system in order to turn that around. Many would say income inequality is the cause.
Louie Gohmert, R-TX
Says President Barack Obama has "not proposed one thing that would change" the fact that Warren Buffett pays a lower tax rate than his secretary.
In fact, Obama has on multiple occasions proposed changing the tax code so that it complies with the "Buffett rule," which attempts to ensure that high-income people pay a certain percentage of their income in taxes that is at least higher than what middle-class people pay.
Elizabeth Warren Sen Mass
"The average family not in the top 10 percent makes less money today than they were making a generation ago."
According to one measurement, the bottom 90 percent of American earners had a lower income in 2012 than they had 30 years ago. She’s arguing that middle-class wages haven’t increased enough over the past couple decades.
Barack Obama
Barack Obama's 2015 State of the Union address: annotated.
PolitiFact reviewed the state of the Union speech line by line.  Click the icon to review each point.
Barack Obama
"Too many bright, striving Americans are priced out of the education they need." 2015 State of the Union address.
PolitiFact validated a claim that, "In 1978, a student who worked a minimum-wage summer job could afford to pay a year's full tuition at the 4-year public university." Obama's point is that the current minimum wage now prohibits the American dream.
Steve Hawkings
Stephen Hawking: Machines won't be the problem in the future, wealth inequality will be.
During a Reddit AMA (Ask Me Anything) interview about Artificial Intelligence (AI) he said, "If machines produce everything we need....and machine-owners successfully lobby against wealth redistribution," as is now the trend, most people will end up miserably poor.
Lawrence Lessing, D
Larry Lessig: "Black Lives Matter" movement is a response to tyrannical "Taxation Through Citation" system
Political activist, Harvard law prof. and Democratic Presidential candidate said that America's "fundamental inequality" disempowers people, and "life is not respected, so you are actually risking your life to be a black person driving in certain areas."
Income Inequity
Income inequality is a religious test. We must reclaim the Heart of our Humanity.
Jim Wallis, who spoke to the Parliament of the World's Religions said, if you believe that every human being regardless of religion or nationality, is made in the image of God, is a child of God, and if you believe in loving your neighbor then income inequality is a spiritual issue, a moral issue, and a religious test of our belief.  We can address inequality through human dignity, stewardship, and the common good.
Jennifer Schilling Dem Ws
Under Donald Trump's tax plan, the wealthiest 0.1 percent would get more tax relief than the bottom 60 percent of taxpayers combined."
Reports from respected nonpartisan research groups calculate that the 0.1 percent -- those making more than $3.7 million per year -- would receive 18 percent of the tax cuts under Trump’s proposal. The bottom 60 percent of taxpayers, meanwhile, would enjoy only 16.4 percent of the cuts.


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