Income Inequality

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These wealth inequality facts will shock you! John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.theguardian.com/global-development/2020/jan/20/worlds-22-richest-men-wealthier-than-all-the-women-in-africa-study-finds "The world’s 22 richest men have more combined wealth than all 325 million women in Africa, according to a study. Women and girls across the globe contribute an estimated £8.28tn ($10.8tn) to the global economy with a total of 12.5bn hours a day of unpaid care work, a figure more than three times the worth of the global tech industry, claims an Oxfam report published on Monday ahead of the World Economic Forum in Davos. The charity says women around the world, especially those living in poverty, do more than three-quarters of all unpaid care work, which is chronically undervalued and taken for granted by businesses and governments alike. Ageing populations, cuts in public spending, and the climate crisis will exacerbate gender and economic inequality, the report warns. “When 22 men have more wealth than all the women in Africa combined, it’s clear that our economy is just plain sexist,” said Oxfam GB’s chief executive, Danny Sriskandarajah.” #TheDamageReport #JohnIadarola #TheYoungTurksJanuary 23

Emma Vigeland breaks down Trump’s obsession with the stock market and why it’s a poor indicator of overall economic performance.December 30

Donald Trump cheats his own base as his economic touts mean nothing for the majority of the public. John Iadarola and Brett Erlich break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.theguardian.com/commentisfree/2019/may/19/trump-economy-americans-voters-unemployment “The award for this year’s Biggest Backhanded Compliment to Trump goes to White House acting chief of staff Mick Mulvaney, who recently predicted a Trump victory in 2020 because “people will vote for somebody they don’t like if they think it’s good for them”. Trump is the least popular president to run for re-election in the history of polling but Mulvaney thinks Americans will vote for him anyway because unemployment has hit a 50-year low, wages are rising and economic growth exceeds 3%. A CNN poll released in early May shows 56% of Americans approve Trump’s handling of the economy. This is making Democrats nervous. No president since the second world war has failed to be re-elected during a good economy. “What Democrats have to be most worried about is the economy,” says Democratic pollster Celinda Lake. It is possible, of course, that the economy will take a dive before election day, especially in light of Trump’s trade wars and the global economic slowdown. But it’s more likely that the recovery that began in 2009 will continue, even though Trump isn’t responsible for it." #TheDamageReport #JohnIadarola #TheYoungTurksDecember 6

Trump steals food from millions of Americans. John Iadarola and Emma Vigeland break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport? sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.nytimes.com/2019/12/04/us/politics/food-stamps.html "Hundreds of Thousands Are Losing Access to Food Stamps The Agriculture Department gave its final approval to the first of three rules that are ultimately expected to cut more than three million from the food stamp rolls." #TheDamageReport #JohnIadarola #TheYoungTurksDecember 5

Trump is kicking Americans off of food stamps.December 4

The sad myth about working hard in America. John Iadarola and Daniel Markovits break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.penguinrandomhouse.com/books/548174/the-meritocracy-trap-by-daniel-markovits/ "A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes." #TheDamageReport #JohnIadarola #TheYoungTurksNovember 15

This billionaire is very passionate about lower taxes.November 5

Fox News gives a ridiculous take on Millenials. John Iadarola and Jordan Uhl break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.mediamatters.org/fox-business/fox-business-panel-suggests-millennials-should-worry-about-inheriting-wealth-instead "CONNELL MCSHANE (GUEST HOST): So you might not have thought this, but millennials could actually become the richest generation ever, and of course, it's thanks to their parents. A new study out showing that millennials are set to inherit $68 trillion from their parents by the year 2020, and this is right up your alley, Chris, this kind of thing. Millennials get a bad rap, and then wonder what they'll do with the money. Maybe people will start asking. But this is something else. It's already, by the way, a lot. There's 618,000 millennial millionaires apparently out there, according to these numbers. CHRIS HOGAN (AUTHOR): Yeah. This is -- I mean, we're about to go through one of the largest wealth transfers in history. And if these millennials don't have a game plan and don't understand how to handle it -- MCSHANE: You see a business opportunity for yourself. HOGAN: This is going to be a very short transfer window. Meaning that the opportunity to go out and invest in things they don't understand, not setting up their next generation. This is the mindset. Legacies don't happen by accident." #TheDamageReport #JohnIadarola #TheYoungTurksOctober 29

Jesse Watters can’t hide his elitism during this Fox News segment. Brett Erlich and Brooke Thomas break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.mediamatters.org/five/foxs-jesse-watters-doesnt-tip "MARTHA MACCALLUM (GUEST CO-HOST): The thing that really tips me off is the iPad thing that they hold up in your face after they give you coffee and say, "Do you want to tip me 10, 15, or 20%?" And just putting -- JESSE WATTERS (CO-HOST): Oh yeah, right in front of them. MACCALLUM: I hate that. I think that's rude. WATTERS: Yeah. I'm not afraid to go zero right in their face. GREG GUTFELD (CO-HOST): Of course, Jesse. WATTERS: Well I mean all you're doing is handing me coffee." #TheDamageReport #JohnIadarola #TheYoungTurksOctober 18

Fox & Friends guest applauds progressives. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.rawstory.com/2019/10/fox-friends-host-gets-unexpected-lesson-on-wealth-inequality-from-ohio-diner/ "A “Fox & Friends” host got an unexpected lesson on wealth inequality from a retired man eating breakfast in an Ohio diner. Pete Hegseth visited a diner Wednesday in Columbus, where he encountered a few fans of Sen. Elizabeth Warren (D-MA) the morning after the latest Democratic presidential debate. “I think she makes a lot of sense,” said Bill, a longtime Democrat sipping coffee in the diner. “You know, when she brought up that billionaires and taxing them after about $50 million, two cents of every dollar that they’ve made after, it’s nothing to them, and it would help so many people here.”" #TheDamageReport #JohnIadarola #TheYoungTurksOctober 16

An angry New Yorker attacks homeless. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://gothamist.com/news/angry-queens-residents-shout-down-plans-for-homeless-shelter-i-hope-someone-burns-it-down "A community hearing on Monday night over a planned homeless shelter in Glendale, Queens was drowned out by opponents of the shelter, who shouted down city officials and residents who attempted to defend the facility. Hundreds of angry community residents packed the auditorium of Christ The King High School in Middle Village to denounce the plan to build a new shelter to house 200 adult men at 78-16 Cooper Avenue. The facility, part of Mayor Bill de Blasio’s plan to build 90 new homeless shelters and expand 30 existing sites, would be an employment shelter, meaning residents would need to qualify by having a job to stay there. Community Chairperson Vincent Arcuri Jr. moderated as a stream of speakers came to the microphones. Some raised widely-held concerns—including that the shelter is within a mile of several schools. Others were simply vitriolic." #TheDamageReport #JohnIadarola #TheYoungTurksOctober 9

Alexandria Ocasio-Cortez helps Trump supporters more than Trump with this new proposal. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.vice.com/en_us/article/3kxpan/heres-alexandria-ocasio-cortezs-massive-plan-to-address-poverty-in-america "Rep. Alexandria Ocasio-Cortez just unveiled another ambitious policy package — this one geared toward lifting more Americans out of poverty — at a time when other buzzy proposals like Medicare for All and the Green New Deal are becoming something of a litmus test for progressive 2020 Democrats. "One of the things that we can get done is build popular support in acknowledging how bad the problem already is. In doing so, we can actually begin to fundamentally address those problems," the 29-year-old freshman Democrat from New York told NPR before the package was officially revealed Wednesday. Ocasio-Cortez, a bogeyman of the right, has introduced or endorsed many of the policies that are now key to progressive candidates’ platforms." #TheDamageReport #JohnIadarola #TheYoungTurksSeptember 25

Bernie Sanders’ wealth tax plan is better and bolder than that of Elizabeth Warren. John Iadarola and Emma Vigeland break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.cnbc.com/2019/09/24/bernie-sanders-proposes-wealth-tax-after-plan-from-elizabeth-warren.html "Sen. Bernie Sanders unveiled a tax on wealth Tuesday as he aims to cut income inequality and fund his sprawling social programs. The 2020 Democratic presidential candidate’s proposal follows a similar plan from Sen. Elizabeth Warren of Massachusetts, who has made a wealth tax a centerpiece of her White House campaign. But the measure from Sanders, who has long railed against an economic system that he says favors corporations and the rich, would tax the richest Americans’ assets more heavily than his rival’s. The Sanders campaign said the levy would apply to net worth above $32 million and raise an estimated $4.35 trillion over the next 10 years. It plans to put the funds toward an affordable housing plan, universal child care and “Medicare for All” — the candidate’s signature proposal. The campaign said the tax would cut the wealth of billionaires in half over 15 years. In a pair of tweets after he released the proposal, Sanders said “billionaires should not exist.” He added: “We are going to tax their extreme wealth and invest in working people.”" #TheDamageReport #JohnIadarola #TheYoungTurksSeptember 24

Pete Davidson curses out “privileged” students in the audience mid-show. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.huffpost.com/entry/pete-davidson-students-ucf_n_5d656a1de4b022fbceb20d6b “Comedian Pete Davidson went off on a crowd of college students during a show at the University of Central Florida, calling them “privileged little assholes” for having their phones out. The “Saturday Night Live” star was headlining a stand-up show at the Orlando school Monday night when the sight of audience members holding phones sent him on an expletive-ridden tear. “Don’t fucking ruin the show for people who actually want to be here,” shouted Davidson, as seen in a video taken by an audience member. Davidson, 25, went on to tell the audience to “fucking grow up, OK?” “It says no phones,” he said, adding: “I have to have my fucking boy patrol you guys like you’re 5 years old? That’s fucking embarrassing.” The audience initially reacted to Davidson’s tirade with laughter. But as he continued to lambast the crowd, the reception appeared to shift. “Don’t you want adults to respect us? Don’t you want your parents to, like, be proud of you? You know how fucking embarrassing it is to be our age and walk out and knows everybody thinks you’re a fucking idiot? Grow the fuck up,” he continued. At one point he grumped: “That’s why the world is gonna end in 25 years, because you’re all fucking retarded.” UCF officials told The Hollywood Reporter they were not pleased with Davidson’s language.” #TheDamageReport #JohnIadarola #TheYoungTurksAugust 28

Trump's tax cuts are too good to be true and here is what he doesn't want you to know. John Iadarola and Brett Erlich break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.vox.com/policy-and-politics/2019/8/21/20826685/trump-payroll-tax-cuts-capital-gains-recession-economy "The White House keeps floating the idea of more tax cuts. You should be skeptical of that. Amid growing concerns about a rocky economy and the White House’s attempts to downplay them, President Donald Trump and his aides have, yet again, suggested a new round of tax reductions may be on the horizon. Their messaging on it hasn’t been entirely consistent — Trump has reversed himself at least once on the matter already this week — but potential tax cut season is in the air. While speaking with reporters on Tuesday, the president said his administration is “always looking at the capital gains tax [and] payroll tax” cuts as options on the table. “Payroll tax is something that we think about and a lot of people would like to see that,” he said. The remarks came as somewhat of a surprise because the day before, White House aides had denied a Washington Post report that the White House was kicking around the idea of a payroll tax cut. Then on Wednesday, Trump flipped his position and said he’s not considering any tax cuts at all. “I just don’t see any reason to,” he said. But on Thursday, the White House switched positions yet again. Larry Kudlow, Trump’s top economic adviser, said in an interview on Fox Business Network that tax cuts may be on the agenda later down the line — namely, in the lead-up to the 2020 election. “You may very well see a new rollout of additional ... middle-class tax relief and small-business tax relief,” he said." #TheDamageReport #JohnIadarola #TheYoungTurksAugust 23

Bernie Sanders and Cardi B talk about wages, jobs, and inequality in America. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.cnn.com/2019/08/14/entertainment/cardi-b-bernie-sanders-wages-trnd/index.html "Cardi B met with presidential candidate Bernie Sanders to discuss wages, unions and jobs. The Bronx rapper shared a clip from her discussion with the Vermont senator on her Instagram Tuesday night. "A couple of weeks ago I asked my followers if you all had the chance to ask a Democratic candidate a question, what would that question be?" she wrote in a video caption for her 49 million followers. "The topic that was mentioned the most by all of you was about raising MINIMUM WAGE." In the video, she tells him how difficult it is for some people to survive on their wages. "Like, for example me, as a New Yorker, not now, but you know, when I was not famous, I just felt like no matter how many jobs I get, I wasn't able to make ends meet," she said. "Like, I wasn't able to pay my rent, get transportation and eat." Sanders said that's an issue in America, adding tens of millions are living on what he described as starvation wages." #TheDamageReport #JohnIadarola #TheYoungTurksAugust 14

The hosts of Fox & Friends have no idea how the economy works for workers who rely on tips or make minimum wage. July 24

Fox & Friends makes jokes about workers living paycheck to paycheck. John Iadarola and Jordan Uhl break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.cnbc.com/2019/07/18/house-passes-raise-the-wage-act-15-per-hour-minimum-wage-bill.html "The House passed a bill Thursday to hike the federal minimum wage to $15 per hour in a win for liberal activists who have long pushed to give low-wage workers a raise. The Democratic-held chamber passed the plan in a 231-199 vote. Six Democrats opposed it, while three Republicans supported it. The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth. It would also phase out lower minimum wage paid to tipped workers. House Democrats view the legislation as a core piece of their agenda to boost pay and economic growth. As President Donald Trump runs for reelection in 2020, the party argues strong economic growth and a roaring stock market have not done enough to lift the workers who most need relief." #TheDamageReport #JohnIadarola #TheYoungTurksJuly 23

Joe Biden doesn't want Democratic voters to demonize rich people. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.newsweek.com/joe-biden-tells-wealthy-crowd-rich-people-patriotic-poor-people-1444771 "Democratic frontrunner Joe Biden described poverty as "the one thing that can bring this country down" during an appearance at the Poor People's Campaign on Monday. Hours later, the former vice president flattered Wall Street mega donors and reassured them that they "are great." "By the way, you know, remember I got in trouble with some of the people on my team, on the Democratic side, because I said, 'You know what I've found is rich people are just as patriotic as poor people,'" Biden told roughly 100 affluent donors during a fundraiser at the Carlyle Hotel in New York City on Tuesday night. "Not a joke. I mean, we may not want to demonize anybody who has made money," Biden added. The former vice president went on to say that wealthy individuals are not to blame for what's going wrong for the American public and that he needs them "very badly" in this election. Unlike many of his 2020 Democratic opponents, Biden has not sworn off campaign money from wealthy donors. As a result, the former vice president has raked in more money than most of his rivals. On the first day of his campaign, Biden raised $6.3 million for his White House bid. Earlier this week, Biden hinted that his campaign has now amassed $19 million in donations." #TheDamageReport #JohnIadarola #TheYoungTurksJune 19

Hasan Piker breaks down some facts that will make you say, the rich? It’s what’s for dinner.April 9

Elizabeth Warren has proposed universal child care. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.gq.com/story/warren-universal-child-care "Even before formally joining the presidential race, Elizabeth Warren made it clear what kind of candidate she wanted to be: a populist crusader who doubled as a check on the power of corporations and the super-rich. Not long after announcing her candidacy, she proposed a "wealth tax," a 2 percent tax on families with assets over $50 million and 3 percent on those with assets over $1 billion. It would generate an estimated $2.75 trillion over the next ten years, and now we know what Warren wants to do with that money: fund a national child-care program. In a post on Medium published Tuesday, Warren writes, "In the wealthiest country on the planet, access to affordable and high-quality child care and early education should be a right, not a privilege reserved for the rich." Earlier this year, a New York Times poll found that 64 percent of young-adult respondents were putting off having kids because of the high cost of child care. In Massachusetts, Warren's home state, the average annual cost of child care for an infant is $17,062. Even in a less expensive place like Iowa, the average annual cost is $9,485, nearly two-thirds of full-time income at state minimum wage. That means a single parent at a minimum-wage job has to work eight months of the year just to cover that." #TheDamageReport #JohnIadarola #TYTNetworkFebruary 20

Why did Jeff Bezos decide to raise his workers' wages? John Iadarola and Brett Erlich discuss how Bernie Sanders pressured Amazon to pay its employees a livable wage.October 2

Amazon raises company min. wage to $15October 2

Koch brothers wage survey backfiresAugust 10

House GOP blocks raising wages for restaurant workersJuly 12

For many Americans, wages are fallingJune 21

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