A lot of people are talking about income inequality and wealth disparity. My friends post statistics bemoaning the fact that, for example, the wealthiest 62 billionaires have as much money as the poorest 50 percent of the world.
This is startling, and worth knowing about. But is it itself a problem?
Dionne Searcey and Robert Gebeloff do a nice job crunching some numbers on what sorts of people are part of the middle class, and how they’re doing (the short version: not great). This caveat of theirs, however, is an important one.
Some modest good news this week from the Census Bureau [pdf]: for the first time since the Great Recession began, the poverty rate is down a little and the child poverty rate is down a little more. The latter was driven by a bit of job growth and—among families with children—higher income.
But at this pace it'll take years for the poverty rate to get back down just to where it was in 2000.
Pope Francis has garnered headlines with his simplicity, as well as with his calls for a “Church for the poor.” The surprise his actions have met reflects, among other things, this: that when it comes to the matter of the haves and have nots, Christians these days tend not to rock the boat.
So you've probably already heard that Mother Jones has video of Governor Romney saying, among other things, this:
There are 47 percent of the people who will vote for the president no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. . . . These are people who pay no income tax. Forty-seven percent of Americans pay no income tax. So our message of low taxes doesn’t connect. . . . My job is not to worry about those people. I’ll never convince them that they should take personal responsibility and care for their lives.
As is often the case, Wonkblog has heaps of great commentary.