At a dinner Wednesday night thrown by the conservative American Spectator magazine, America crazy-person flavor-of-the-month Ted Cruz reportedly uttered something rather surprising. According to the Washington Examiner’s Philip Klein, the Republican senator from Texas said that the top one percent, in Klein’s Twitter-filtered paraphrase, “has higher concentration of wealth than any time since 1928. Blames Obama economy.”
One of the most-discussed articles on the Internet over the past few days—I don’t mean that disparagingly, the Internet is where we have discussions now!—was Peter Beinart’s essay arguing that Bill de Blasio’s decisive victory in New York’s Democratic mayoral primary is presaging a fundamental generational shift, prompted both by Millennial sensibilities and increased inequality, toward a more left-liberal politics among Democrats.
The Census Bureau has released its annual report on income, poverty and health insurance. The report is a bit like a national report card, showing us how well the U.S. provides for the economic security of its citizens. And the grades aren't very impressive, although they are better than they’ve been in the recent past.Here’s what we know, subject to revision as real experts (i.e., not me) have more time to analyze the data:
As mayor, he'd be battling the one percent—and history
Mayor de Blasio would be battling the one percent—and history
Nursing homes, fast-food restaurants think up ways to shirk employer responsibility
Have nursing homes, fast-food restaurants, and other low-wage employers found a way to avoid paying for full insurance?
An argument about work, life, and the modern calendar
Thanks to the ever-expanding modern work-week, opting to stay home with the kids is a different choice than it was twenty or thirty years ago.
For the typical American, the economic rebound ended in May 2012
On the eve of the sequester, there's more bad news about the economy. Just last month, Berkeley economist Emmanuel Saez reported that during the first two years of the recovery (2009-2011) average market income for the top one percent in the income distribution grew by 11.2 percent while it shrank by 0.4 percent for everyone else. Saez didn't yet have distribution data for 2012 (and likely won't for many months).