October 6, 2012 |
However wide the policy gulf between Pennsylvania's U.S. Senate candidates, Republican Tom Smith and incumbent Democrat Bob Casey, it is dwarfed by the gap in their personal finances. Smith, who has been buying millions of dollars in TV ads with his own money, reported total income of almost $22 million in 2010, the year he sold his main coal-mining businesses, according to federal tax returns he has released to The Inquirer. Smith made far less - about $265,000 - last year, his returns indicated.
September 18, 2012 |
EXACTLY one year ago, Fishtown's Dustin Slaughter was one of a couple of hundred protesters who - turned away from New York's Wall Street by a thick blue wall of cops - streamed into a then-unknown corner of real estate called Zuccotti Park to spend the night. Virtually no one noticed. Over the next few months, Slaughter, 33, a filmmaker and alternative journalist, became a virtual Zelig of the movement soon known as Occupy Wall Street - always in the picture. He was there when 700 protesters were arrested on the Brooklyn Bridge and when Occupy Philly took root in Dilworth Plaza.
January 22, 2012 |
When Mitt Romney was talking about his money the other day - a very rich topic, as it were - he casually remarked, "I get speakers' fees from time to time, but not very much. " Care to learn how Romney defines "not very much"? Between February 2010 and February 2011, his speaking gigs totaled $374,327. This guy clearly dwells in a rarefied realm far removed from the average Joe. What he dismisses as chump change is enough to send seven kids to top-notch colleges. His gig earnings also trump the median American family's annual income, which happens to be $60,088.
January 13, 2012 |
It was as if Oliver Stone had written a Mitt Romney sound bite when this week the candidate was quoted as saying, "I like firing people. " After all, Stone directed Michael Douglas, as Gordon Gekko, saying similar things in the 1987 movie classic Wall Street . Men in their 40s and 50s still quote Gekko: "Lunch is for wimps"; "I create nothing. I own"; "What's worth doing is worth doing for money"; "If you're not inside, you're outside"; and of course, "Greed, for lack of a better word, is good.
January 8, 2012 |
Has income inequality exacerbated the financial crisis or slowed a recovery? How should "fairness" be addressed? The issue has many facets in this election year and needs to be sorted out. "Breaking down the income gap into real terms," at money.usnews.com, gives the income gap historical perspective, with notes on a so-called "great compression" of the income scale for decades after the Great Depression, and the subsequently unfolding "great divide"...
November 14, 2011 |
The years-long fight between Cherry Hill Township and the Fair Share Housing Center, a low-income-housing advocacy group, is to return to court Monday, with the dispute this time focusing on the township's accounting of its court-mandated, low-income-housing fund. In the latest development from Fair Share's 2001 lawsuit, Superior Court Judge Robert J. Millenky is to consider the group's allegation that Cherry Hill misspent more than $500,000 in development fees instead of setting the money aside for affordable housing.
October 30, 2011
Burials at home for crash victims CHICAGO - Seven members of an extended family who died in a crash on the Indiana Toll Road will be buried in their home country, Alberto Rebelo, a spokesman for the Ecuadoran Consulate in Chicago said Saturday. He said the consulate is offering relatives of the victims as much information as possible, including financial and legal help and how to have the bodies properly transported back to Ecuador. Ten members of the family were in a minivan heading east on the toll road about 8 p.m. Thursday when it hit a deer and slowed down or stopped, authorities said.
September 20, 2011
By Robert A. Pastor Washington focuses on the urgent and has little time for the important. As a result, it faces chronic problems and cannot plan for the future. There is no better illustration of this than the idea that was missing from President Obama's recent jobs address: North America. Had he grasped it, he would have amplified some of his proposals in a way that would help achieve his job goals and two others: doubling exports and limiting undocumented immigration.
February 3, 2011
Two scenarios for a new Egypt There are two future scenarios for Egypt ("Mubarak sees fall exit," Wednesday). Egypt could be a force for moderation and freedom, demonstrating the related social and economic benefits to other Arab countries. The likely result would be increased peace and decreased tensions in the Middle East, and between Islam and the West. Or Egypt could become the powerful and rich leader of the fanatics who hate the West and are willing to die to make their point.
March 2, 2006 |
Ben Bernanke's maiden congressional testimony as chairman of the Federal Reserve was, everyone agrees, superb. He didn't put a foot wrong on monetary or fiscal policy. But Bernanke did stumble at one point. Responding to a question from Rep. Barney Frank (D., Mass.) about income inequality, he declared that "the most important factor" in rising inequality "is the rising skill premium, the increased return to education. " That's a fundamental misreading of what's happening to American society.