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Javier E

The Families Funding the 2016 Presidential Election - The New York Times - 0 views

www.nytimes.com/...election-super-pac-donors.html

funding election campaign oligarchy influence political rich

shared by Javier E on 11 Oct 15 - No Cached
  • They are overwhelmingly white, rich, older and male, in a nation that is being remade by the young, by women, and by black and brown voters. Across a sprawling country, they reside in an archipelago of wealth, exclusive neighborhoods dotting a handful of cities and towns. And in an economy that has minted billionaires in a dizzying array of industries, most made their fortunes in just two: finance and energy.
  • Now they are deploying their vast wealth in the political arena, providing almost half of all the seed money raised to support Democratic and Republican presidential candidates. Just 158 families, along with companies they own or control, contributed $176 million in the first phase of the campaign
  • Not since before Watergate have so few people and businesses provided so much early money in a campaign, most of it through channels legalized by the Supreme Court’s Citizens United decision five years ago.
  • ...13 more annotations...
  • But regardless of industry, the families investing the most in presidential politics overwhelmingly lean right, contributing tens of millions of dollars to support Republican candidates who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink entitlement programs.
  • In marshaling their financial resources chiefly behind Republican candidates, the donors are also serving as a kind of financial check on demographic forces that have been nudging the electorate toward support for the Democratic Party and its economic policies. Two-thirds of Americans support higher taxes on those earning $1 million or more a year, according to a June New York Times/CBS News poll, while six in 10 favor more government intervention to reduce the gap between the rich and the poor. According to the Pew Research Center, nearly seven in 10 favor preserving Social Security and Medicare benefits as they are.
  • The donor families’ wealth reflects, in part, the vast growth of the financial-services sector and the boom in oil and gas, which have helped transform the American economy in recent decades. They are also the beneficiaries of political and economic forces that are driving widening inequality: As the share of national wealth and income going to the middle class has shrunk, these families are among those whose share has grown.
  • Most of the families are clustered around just nine cities. Many are neighbors, living near one another in neighborhoods like Bel Air and Brentwood in Los Angeles; River Oaks, a Houston community popular with energy executives; or Indian Creek Village, a private island near Miami that has a private security force and just 35 homes lining an 18-hole golf course.
  • More than 50 members of these families have made the Forbes 400 list of the country’s top billionaires, marking a scale of wealth against which even a million-dollar political contribution can seem relatively small. The Chicago hedge fund billionaire Kenneth C. Griffin, for example, earns about $68.5 million a month after taxes, according to court filings made by his wife in their divorce. He has given a total of $300,000 to groups backing Republican presidential candidates. That is a huge sum on its face, yet is the equivalent of only $21.17 for a typical American household, according to Congressional Budget Office data on after-tax income.
  • “The campaign finance system is now a countervailing force to the way the actual voters of the country are evolving and the policies they want,” said Ruy Teixeira, a political and demographic expert at the left-leaning Center for American Progress.
  • The accumulation of wealth has been particularly rapid at the elite levels of Wall Street, where financiers who once managed other people’s capital now, increasingly, own it themselves. Since 1979, according to one study, the one-tenth of 1 percent of American taxpayers who work in finance have roughly quintupled their share of the country’s income. Sixty-four of the families made their wealth in finance, the largest single faction among the super-donors of 2016.
  • instead of working their way up to the executive suite at Goldman Sachs or Exxon, most of these donors set out on their own, establishing privately held firms controlled individually or with partners. In finance, they started hedge funds, or formed private equity and venture capital firms, benefiting from favorable tax treatment of debt and capital gains, and more recently from a rising stock market and low interest rates
  • In energy, some were latter-day wildcatters, early to capitalize on the new drilling technologies and high energy prices that made it economical to exploit shale formations in North Dakota, Ohio, Pennsylvania and Texas. Others made fortunes supplying those wildcatters with pipelines, trucks and equipment for “fracking.”
  • The families who give do so, to some extent, because of personal, regional and professional ties to the candidates. Jeb Bush’s father made money in the oil business, while Mr. Bush himself earned millions of dollars on Wall Street. Some of the candidates most popular among ultrawealthy donors have also served in elected office in Florida and Texas, two states that are home to many of the affluent families on the list.
  • the giving, more broadly, reflects the political stakes this year for the families and businesses that have moved most aggressively to take advantage of Citizens United, particularly in the energy and finance industries.
  • The Obama administration, Democrats in Congress and even Mr. Bush have argued for tax and regulatory shifts that could subject many venture capital and private equity firms to higher levels of corporate or investment taxation. Hedge funds, which historically were lightly regulated, are bound by new rules with the Dodd-Frank regulations, which several Republican candidates have pledged to roll back and which Mrs. Clinton has pledged to defend.
  • And while the shale boom has generated new fortunes, it has also produced a glut of oil that is now driving down prices. Most in the industry favor lifting the 40-year-old ban on exporting oi
krystalxu

The Effects of Family Culture on Family Foundations | Council on Foundations - 0 views

www.cof.org/...ily-culture-family-foundations

culture family economics politics history

shared by krystalxu on 23 Oct 17 - No Cached
  • Yet it is exactly this—a characteristic way of thinking, feeling, judging, and acting—that defines a culture.
  • certain cultural attitudes and responses are so ingrained in family members that they continue to affect their thinking and behavior, whether or not those individuals are aware of such influence.
  • values, norms, traditions and conformity. Each is examined below.
  • ...8 more annotations...
  • The values of entrepreneurs who have created their family’s wealth do not always inspire family members to follow in their footsteps.
  • They’d just ask me what I wanted to give to, and then they’d rubber-stamp it and adjourn the meeting.”
  • it has made mistakes and misjudged the capacity of certain individuals for leadership.
  • some families might regard as failures, the Jacobs see as valuable lessons. Undaunted, they are confident they are on the right track.
  • To keep track of this large family, he prints and distributes a clan telephone directory, which he updates annually.
  • Sometimes, even the family leaders themselves recognize that a different management structure is needed for the foundation.
  • To preserve family unity and encourage family participation, the foundation revised the trust agreement.
  • Conflicts erupt, circumstances change and new challenges arise that require trustees to rethink their old ways or to devise different strategies for managing situations.
aidenborst

Trump's final full week in office ends with the nation in disarray - CNNPolitics - 0 views

www.cnn.com/...index.html

Politics US Trump history crisis Culture policy pandemic gop attack riot vaccine

shared by aidenborst on 16 Jan 21 - No Cached
  • The final full week of Donald Trump's presidency ended with a nation in disarray -- fearful about the threats surrounding Inauguration Day in a capital city that has become a fortress; unsettled by new details of the harm that rioters could have inflicted on lawmakers during last week's insurrection; and angry at the revelation that the administration's pledge to release a reserve of Covid-19 vaccine doses was hollow.
  • Trump's narcissistic detachment from the grief and fear gripping the nation, while all too familiar, was no less breathtaking in his final days after four years in which he has shirked the most solemn duties of the presidency. After these last days characterized by incompetence, poor planning, negligence and Trump's utter lack of contrition for the mob he incited to attack the Capitol, America finally seems ready to see him head for the exits.
  • His political capital has cratered. A Pew Research Center poll released Friday showed that 54% of Americans want to see Trump removed from office and 68% said they don't want to see him continue to be a major national political figure in the years to come. His overall approval rating fell to 29%, the lowest it has ebbed during his presidency in the Pew poll.
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  • As Trump makes little effort to quiet the nerves of a rattled nation, details of what unfolded during last week's Capitol siege have become more unsettling by the day as federal authorities have raced to apprehend the most dangerous rioters while warning of plots for more violence next week when President-elect Joe Biden will be inaugurated. close dialogSign up for CNN's CNN's Chris Cillizza cuts through the political spin and tells you what you need to know. Sign Me UpNo ThanksBy subscribing, you agree to ourprivacy policy.Sign up for CNN's CNN's Chris Cillizza cuts through the political spin and tells you what you need to know. Please enter above Sign Me UpNo ThanksBy subscribing, you agree to ourprivacy policy.You're on the list for CNN'sCNN's Chris Cillizza cuts through the political spin and tells you what you need to know. close dialog/* effects for .bx-campaign-1245919 *//* custom css
  • The Washington Post was the first to report Friday that Pence and his family were whisked to safety in a nearby room mere seconds before Eugene Goodman led the mob away from some of the nation's top elected officials to another corridor where other officers arrived as backup.
  • Pence was clearly a top target in the riot; widely circulated video has shown the rioters chanting "hang Mike Pence" as they stormed the Capitol after Trump turned on his vice president by erroneously suggesting that he could have abandoned his duties and changed the outcome of the presidential election.
  • "Some guys started getting a hold of my gun and they were screaming out, 'Kill him with his own gun,'" Fanone, an officer for nearly two decades, told CNN.
  • "He was practically foaming at the mouth so just, these people were true believers in the worst way," Hodges told CNN.
  • "These men weren't drunks who got rowdy — they were terrorists attacking this country's constitutionally-mandated transfer of power," Sasse said in a statement. "They failed, but they came dangerously close to starting a bloody constitutional crisis. They must be prosecuted to the fullest extent of the law. The FBI is investigating widespread calls for violence across the country and every American has an obligation to lower the temperature."
  • Biden outlined his own plan to accelerate distribution of the Covid-19 vaccines on Friday. Though his proposal was short on details, he said he would expand eligibility for those 65 and up to get vaccinated -- a step the Trump administration also encouraged this week.
  • But several governors said they were furious Friday after learning that the federal government has no reserve of additional Covid-19 vaccine doses to distribute -- days after Trump administration officials announced with much fanfare that they planned to release a reserve of second doses to make more vaccine available to those 65 and older.
  • "It appears now that no reserve exists. The Trump administration must answer immediately for this deception," Inslee tweeted.
  • During a news conference, Oregon Gov. Kate Brown -- also a Democrat -- said she was "shocked and appalled" that the Trump administration set an expectation earlier this week, knowing that they could not deliver on it.
  • "Their empty promises are literally playing with people's lives," Brown said. "While the Trump administration pulled the rug out from under us like a cruel joke, let me assure you that Oregon's priorities, and my priorities have not changed. ... I remain committed to vaccinating our seniors quickly. But this failure by the Trump administration will unfortunately cause a two-week delay in beginning vaccinations for seniors quickly."
  • Pfizer has told CNN it has vaccine doses on hand to ship when they are requested by the federal government. "We are working around the clock to produce millions more each day," the company said in a statement.
Javier E

9/11, COVID, and Us. - 0 views

mailchi.mp/...911-covid-and-us

people americans serious nature vice culture politics

shared by Javier E on 11 Sep 20 - No Cached
  • On March 30, the COVID death toll in America eclipsed the toll of 9/11. Here is what I wrote:   When all is said and done, the novel coronavirus will be the equivalent of multiple 9/11’s. Maybe two of them. Maybe five. Maybe thirty. We’ll see. God help us, we’re going to see.
  • People on the internet made fun of me for being alarmist, because “only” 2,977 Americans had died from the virus. Turns out I wasn’t being dark enough. We are closing in on the equivalent of 67 September 11’s.
  • Think about how you felt on that day, which was the greatest intelligence failure in American history. And imagine angry you would have been if 66 more of them had followed. Imagine what sort of accountability you would have demanded for the people in charge.
  • ...9 more annotations...
  • 2. This Is Us
  • When we talk about accountability, we’re talking about our president, Donald Trump. That’s proper. He is the man who made the government’s decisions on how to handle the pandemic. The death toll belongs to him.
  • as always, it’s easy to mistake the symptom for the disease.
  • After 9/11, America rallied together under a single banner. Republicans and Democrats linked arms. George W. Bush’s approval rating was in the 90s. Both left and right moved out of their comfort zones: Liberals became more hawkish; conservatives began paying attention to the idea of multiculturalism. These shifts weren’t permanent, but they showed that both sides saw their blind spots and knew they had to correct for them.
  • these moves—call them gestures, if you’re cynical—were born of the realization that what had happened to America was important. That 9/11 mattered. And that a serious country takes serious events seriously.
  • Garrett Graff has a good piece in the Atlantic about how our nation’s capacity for grief today is different than it was 19 years ago and he mostly blames the pandemic itself and the ways in which it has warped our rituals
  • Then there’s Donald Trump. He is not just to blame for the government’s response to the coronavirus, but for trying to incite half the country into believing that the coronavirus is a hoax and that the Americans taking the virus seriously are the enemy.
  • But I don’t blame Trump for all of the division. Because his people—like the guy in that video—aren’t NPC’s. They have minds of their own. They chose to follow his lead. In the same way that some large percentage of Americans wanted Donald Trump, there’s a large percentage who wanted not to rally around each other, but to turn on each other. To retreat into fantasy land. To choose to be unserious.
  • The worst thing about this anniversary is that, for the first time in 19 years, we have been confronted with incontrovertible evidence that we are a different people than we were on 9/11. A much—much—worse people.
Javier E

Opinion | Tucker Carlson Versus Conservatism - The New York Times - 0 views

www.nytimes.com/...lson-fox-news-republicans.html

conservatism gop government social policy family

shared by Javier E on 14 Jan 19 - No Cached
  • Carlson’s monologue was an expansion of themes that have dominated his reinvention as a Trump-era populist — the general folly of elites, the unwisdom of the bipartisan consensus on immigration and foreign policy, the failure of Republican leaders to defend the national interest.
  • But in expanding on those themes he went somewhere that Fox hosts rarely go — from culture into economics, from a critique of liberal cosmopolitanism into a critique of libertarianism, from a lament for the decline of the family to an argument that this decline can be laid at the feet of consumer capitalism as well as social liberalism.
  • One set of responses accused Carlson of a kind of conspiratorial socialism, which exaggerates economic misery, ignores capitalism’s fruits, and encourages ordinary people to blame shadowy elites instead of cultivating personal responsibility.
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  • The other group basically said, no, Tucker has a point — the point being that market economies are inevitably shaped by public policy, that policies championed by both parties have failed to promote the interests of the working class, and that social conservatives especially need a framework of political economy to promote the institutions — family, work, neighborhood — upon which civil society depends
  • it is especially an argument that Fox News should be highlighting, since Fox is frequently responsible for stoking populism but keeping it vacuous or racialized, evading the debates the right really needs.
  • “There are wounds that public policy can’t heal.”This is a crucial conservative insight, a caution for policymakers everywhere — but it can also become a trap, a cul-de-sac, an excuse for doing nothing. And that has happened too often for conservatives in recent decades: They’ve leaped to despair without even trying policy.
  • in the aftermath of the 2008 financial crash many conservatives were convinced that there was nothing the Federal Reserve could do about the vast army of the unemployed without touching off a similar inflationary spiral.But in hindsight this was wrong, the feared inflation never came, and the economic recovery was slowed because of the Republican fixation on tight money.
  • in the preceding eight years, wage-earning Americans suffered unnecessarily because of a wrongheaded right-wing counsel of despair.
  • A second example: While it’s true that family breakdown has deep and tangled roots, it’s also true that in the 1940s and 1950s, a mix of government policy, union strength and conservative gender norms established a “family wage” — an income level that enabled a single breadwinner to support a family
  • If marriages and intact families and birthrates declined as the family wage crumbled, perhaps we should try rebuilding that economic foundation before we declare the crisis of the family a wound that policy can’t heal.
  • Historically conservatism has been proudly paternalist, favorable to forms of censorship and prohibition for the sake of protecting precisely the private virtues that Carlson’s critics think government can’t cultivate. But in recent decades, the right’s elites have despaired of censoring pornography, acquiesced to the spread of casino gambling, made peace with the creeping commercialization of marijuana, and accepted the internet’s conquest of childhood and adolescence.
  • Yet none of these trends actually seem entirely beyond the influence of regulation. It’s just that conservatism has given up — once again, in unwarranted despair — on earlier assumptions about how public paternalism can encourage private virtue.
  • absent a corrective that "protects normal families," even the normal will eventually turn to socialism — choosing a left-wing overcorrection over a right that just says, Well, you see, we already cut corporate taxes, so there's nothing we can do.
Javier E

A Teenager Was Bullied. His Ancestors Saved Him. - The New York Times - 0 views

www.nytimes.com/...alogy-connecticut-merritt.html

history African-American geneology research teen learning

shared by Javier E on 27 Feb 21 - No Cached
  • In March 2008, Dennis Richmond Jr. watched “Roots” with his father, and it changed his life. It was a Sunday, the Richmonds’ day for leafing through family photographs in their apartment in Yonkers, N.Y., looking at relatives going back about a century. “Roots,” Alex Haley’s semifictional account of his family’s journey from West Africa, posed a challenge: How far back could young Dennis trace his own ancestors?
  • When he thought about his grandmother having parents, who in turn had parents, he was floored. “It blew my mind,” he said. “The seed was planted. And I’ve been steadfast ever since.”
  • For Dennis, finding his ancestors became a refuge from his school life, where classmates bullied him both physically and verbally for his studiousness and the way he carried himself.
  • ...16 more annotations...
  • “I knew, wow, I have slaves in my family, and I would like to know who they are,” he said. “It was an amazing pastime for me. It kept my mind off the fact that I knew that Monday morning I would have to go back to school and get bullied again.”
  • Dennis’s great-uncle, John Sherman Merritt, said it had been very difficult to get information from his elders, especially the great-grandmother who had been born before Emancipation and grew up during Reconstruction.
  • Through his searches he came across the work of a fifth cousin, Teresa Vega, a generation older, who was already engaged in a rigorous study of their ancestors from her apartment in Upper Manhattan.
  • His father, Dennis Sr., knew that there were family mysteries to be unraveled, though he had not tried to unlock them himself. Many of his relatives“don’t look like they’re of African descent,” he said. “Just visualizing our family, you can see that there’s a relation to different ethnic groups.”
  • Hangroot was a community once vibrant, but largely lost to history; its Black and Indigenous residents were mostly gone by 1910 — “gentrified out,” said Ms. Vega, by the twofold pressure of white immigrants and the arrival nearby of the Rockefellers. When a relative gave Dennis a photograph from around 1899 showing his great-great-grandfather as a boy in Hangroot, it put a face on an ancestor and a community Dennis knew only from documents.
  • Dennis learned about the great-great-grandfather in the photograph, how he worked himself to death at 31, and about his mother, born in 1871 in Virginia, the daughter of enslaved parents, who wrote poems that were published in newspapers.
  • Against his difficulties in school, his ancestors became role models. “Because grandpa John died of exhaustion, if I’m not dying from working hard, then why wouldn’t I continue to work hard?” Dennis said. “If I know that one of my ancestors couldn’t read and write for a few years because of the circumstances they were born into, but taught themselves how to do it, why wouldn’t I go online and look up a word that I didn’t know? So I’m learning from these stories. I’m not just finding these things out. They’re empowering me.”
  • Further searches revealed relatives of Mohawk descent.
  • Finally, an archivist at the Rye Historical Society found a bill of sale that Dennis realized referred to his sixth great-grandmother, Margaret Lyon, known as Peg, dated July 7, 1790. For the sum of “Fifty Pounds of New York Money,” she became the legal property of Nathan Merritt Jr., after whose family the Merritt Parkway in Connecticut is named.
  • Through DNA testing on numerous branches of the family, Mr. Richmond and his cousin Ms. Vega said they were able to determine that Peg bore at least one child — Mr. Richmond’s fifth great-grandfather, who was born into slavery — with a member of the white Merritt family that enslaved her.
  • Ms. Vega took the genealogy back a generation further. Peg Lyon, she found, was herself fathered by a man from the family that sold her to the Merritts, the Lyons, a comparably prominent family whose name is given to a park in nearby Port Chester, N.Y. Again, DNA testing confirmed her research.
  • She followed a family trail to Christine Varner, a Lyon descendant still living in Connecticut. Ms. Varner, who is white, said she always believed she might have relatives of African descent. Then Ms. Vega called.
  • In her childhood, her mother had taken her to the old African-American and Native American cemetery to place flowers on the graves. Now she understood why.
  • In the meantime, he said, his genealogy had given him a view of Black history far different from the one he’d learned in school — one that included Northern families like the Lyons and Merritts, Black and white, living in the same community for generations. During the pandemic, he wrote and self-published a book that included his adventures in genealogy, “He Spoke at My School.”
  • “To know that I have Indigenous DNA, on my dad’s side, just makes for a true American story,” he said. “You had slave owners who had slaves, and who had children with the people that they enslaved. You have people who came to this country from Europe and who had children with Indigenous people. And Indigenous people who had children with stolen Africans.
  • “And then you speed up hundreds of years,” he said, “and you have Dennis.”
aidenborst

Wall Street Journal: Trump pressured Georgia investigator to find 'the right answer' in baseless fraud push - CNNPolitics - 0 views

www.cnn.com/...index.html

Politics US Trump history Culture gop Biden election election-overview post-election

shared by aidenborst on 11 Mar 21 - No Cached
  • In a phone call to the Georgia secretary of state's office in December, then-President Donald Trump urged a top investigator to find fraud in the 2020 presidential election, telling her that she would be "praised" for overturning results that were in favor of Joe Biden, according to newly reported audio of the call obtained by The Wall Street Journal.
  • "When the right answer comes out, you'll be praised," Trump tells Frances Watson, the chief investigator at the Georgia secretary of state's office, in a six-minute conversation on December 23, according to the Journal.
  • "I won everything but Georgia. And I won Georgia, I know that. By a lot. And the people know it. And something happened there. Something bad happened," Trump reportedly told Watson during the phone call.
  • ...6 more annotations...
  • At the time, Watson was investigating the secretary of state's office and the Georgia Bureau of Investigation's audit of more than 15,000 signatures in Cobb County, outside Atlanta. Results of the audit found no evidence of fraudulent mail-in ballots and Biden was declared winner of Georgia in the election.close dialogSign up for CNN's CNN's Chris Cillizza cuts through the political spin and tells you what you need to know. Sign Me UpNo ThanksBy subscribing, you agree to ourprivacy policy.Sign up for CNN's CNN's Chris Cillizza cuts through the political spin and tells you what you need to know. Please enter above Sign Me UpNo ThanksBy subscribing, you agree to ourprivacy policy.You're on the list for CNN'sCNN's Chris Cillizza cuts through the political spin and tells you what you need to know. close dialog/* effects for .bx-campai
  • "I hope you are going back two years as opposed to checking one against the other," Trump can be heard saying on the call. "Because that would just be a signature check that didn't mean anything."
  • "But if you go back two years, and if you can get to Fulton, you are going to find things that are going to be unbelievable," the then-President said. "The dishonesty that we've heard from. But Fulton is the mother lode."
  • Investigators in both probes are interested in Trump's call to Watson, according to sources familiar with the probes.
  • One is the January phone call where Trump pushed Raffensperger to "find" votes to overturn the election results after his loss to Biden. The other involves the call Trump made on December 23 to Watson.
  • "If Mr. Raffensperger didn't want to receive calls about the election, he shouldn't have run for secretary of state," Miller said in the statement.
kaylynfreeman

Meghan and Harry interview: Prince William says royals are 'very much not a racist family' - CNN - 0 views

www.cnn.com/...index.html

Politics

shared by kaylynfreeman on 11 Mar 21 - No Cached
  • London (CNN)Prince William has denied the royal family is racist in his first public remarks since his brother Prince Harry, and his wife Meghan, made explosive claims in a TV interview.
  • Harry and Meghan, the Duke and Duchess of Sussex, made a series of damning accusations against the royal family in an interview with Oprah Winfrey, which aired in the UK on Monday night.
  • In the interview, Meghan said that the skin tone of the couple's child, Archie, was discussed as a potential issue before he was born. The couple would not reveal who had made the remarks, but said it wasn't Queen Elizabeth II or her husband, Philip, the Duke of Edinburgh. close dialogDo you want the news summarized each morning?We've got you.Please enter aboveSign me upBy subscribing you agree to ourprivacy policy.Success!See you in your inbox.close dialog/* effects for .bx-campaign-1271788 *//* custom css .bx-campaign-1271788 *//* custom css from creative 53617 */.bx-custom.bx-campaign-1271788 .bx-row-input.bx-row-validation .bx-vtext { font-size: 11px; color: #ee2924;}@keyframes bx-anim-1271788-spin { 100% { transform: rotate(360deg); }}/* rendered styles .bx-campaign-1271788 */.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative:before {min-height: 185px;}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative {border-color: #c1c1c1;border-style: solid;background-size: contain;background-color: white;border-width: 1px 0;border-radius: 0;}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative> *:first-child {width: 780px;padding: 10px;vertical-align: middle;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788.bx-active-step-1 .bx-creative> *:first-child {width: 340px;padding: 15px;}}.bxc.bx-campaign-1271788.bx-active-step-1 .bx-close {stroke: rgb(193, 193, 193);stroke-width: 2px;width: 24px;height: 24px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788.bx-active-step-1 .bx-close {width: 30px;height: 30px;padding: 0 0 10px 10px;}}.bxc.bx-campaign-1271788 .bx-group-1271788-PGhroUO {width: 135px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-PGhroUO {text-align: center;display: none;}}.bxc.bx-campaign-1271788 .bx-element-1271788-LHjAYNs {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-LHjAYNs {width: 45px;}}.bxc.bx-campaign-1271788 .bx-group-1271788-eWRqNk4 {width: 505px;padding: 2px 0 0 25px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-eWRqNk4 {width: 100%;padding: 5px 0 0;text-align: left;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs {width: 100%;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 21px;color: #282828;line-height: 1em;letter-spacing: -.015em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Sk3p2Hs> *:first-child {font-size: 22px;min-width: auto;padding: 0;line-height: 1.1m;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 100%;}}@media all and (min-width: 1025px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY {width: 500px;}}.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY> *:first-child {font-family: CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 21px;padding: 6px 0 0;color: #ee2924;line-height: 1.1em;letter-spacing: -.015em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-element-1271788-Gs3ScAY> *:first-child {font-size: 18px;padding: 8px 0 0;}}.bxc.bx-campaign-1271788 .bx-group-1271788-kw4VbV5 {width: 640px;padding: 10px 0 0;min-width: 550px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1271788 .bx-group-1271788-kw4VbV5 {min-width: auto;width: 100%;padding: 10px 0 0;}}@media all and (min-width: 737px) and (max-wi
Javier E

No Rich Child Left Behind - NYTimes.com - 0 views

opinionator.blogs.nytimes.com/...no-rich-child-left-behind

education inequality early learning

shared by Javier E on 20 Jun 13 - No Cached
  • In the 1980s, on an 800-point SAT-type test scale, the average difference in test scores between two such children would have been about 90 points; today it is 125 points. This is almost twice as large as the 70-point test score gap between white and black children. Family income is now a better predictor of children’s success in school than race.
  • e proportion of students from upper-income families who earn a ba
  • chelor’s degree has increased by 18 percentage points over a 20-year period, while the completion rate of poor students has grown by only 4 points.
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  • new research by the Harvard political scientist Robert D. Putnam and his colleagues shows that the rich-poor gaps in student participation in sports, extracurricular activities, volunteer work and church attendance have grown sharply as well.
  • average test scores on the National Assessment of Educational Progress, the so-called Nation’s Report Card, have been rising — substantially in math and very slowly in reading — since the 1970s.
  • The most potent development over the past three decades is that the test scores of children from high-income families have increased very rapidly.
  • the rich now outperform the middle class by as much as the middle class outperform the poor. Just as the incomes of the affluent have grown much more rapidly than those of the middle class over the last few decades, so, too, have most of the gains in educational success accrued to the children of the rich.
  • For the past few years, alongside other scholars, I have been digging into historical data to understand
  • It’s not just that the rich have more money than they used to, it’s that they are using it differently. This is where things get really interesting.
  • The widening income disparity in academic achievement is not a result of widening racial gaps in achievement, either. The achievement gaps between blacks and whites, and Hispanic and non-Hispanic whites have been narrowing slowly over the last two decade
  • schools don’t seem to produce much of the disparity in test scores between high- and low-income students.
  • That isn’t to say that there aren’t important differences in quality between schools serving low- and high-income students — there certainly are — but they appear to do less to reinforce the trends than conventional wisdom would have us believe.
  • The academic gap is widening because rich students are increasingly entering kindergarten much better prepared to succeed in school than middle-class students. This difference in preparation persists through elementary and high school.
  • one part of the explanation for this is rising income inequality
  • the incomes of the rich have grown faster over the last 30 years than the incomes of the middle class and the poor. Money helps families provide cognitively stimulating experiences for their young children because it provides more stable home environments, more time for parents to read to their children, access to higher-quality child care and preschool
  • The average 9-year-old today has math skills equal to those her parents had at age 11, a two-year improvement in a single generation. The gains are not as large in reading and they are not as large for older students, but there is no evidence that average test scores have declined over the last three decades for any age or economic group.
  • High-income families are increasingly focusing their resources — their money, time and knowledge of what it takes to be successful in school — on their children’s cognitive development and educational success. They are doing this because educational success is much more important than it used to be, even for the rich.
  • even though middle-class and poor families are also increasing the time and money they invest in their children, they are not doing so as quickly or as deeply as the rich.
  • from 1972 to 2006 high-income families increased the amount they spent on enrichment activities for their children by 150 percent, while the spending of low-income families grew by 57 percent over the same time period
  • the amount of time parents spend with their children has grown twice as fast since 1975 among college-educated parents as it has among less-educated parents.
  • much of our public conversation about education is focused on the wrong culprits: we blame failing schools and the behavior of the poor for trends that are really the result of deepening income inequality and the behavior of the rich.
  • not only are the children of the rich doing better in school than even the children of the middle class, but the changing economy means that school success is increasingly necessary to future economic success, a worrisome mutual reinforcement of trends that is making our society more socially and economically immobile.
  • the rapid growth in the rich-poor educational gap provides a ray of hope: if the relationship between family income and educational success can change this rapidly, then it is not an immutable, inevitable pattern. What changed once can change again. Policy choices matter more than we have recently been taught to think.
  • how can we move toward a society in which educational success is not so strongly linked to family background? Maybe we should take a lesson from the rich and invest much more heavily as a society in our children’s educational opportunities from the day they are born. Investments in early-childhood education pay very high societal dividends. That means investing in developing high-quality child care and preschool that is available to poor and middle-class children. It also means recruiting and training a cadre of skilled preschool teachers and child care providers.
  • improving the quality of our parenting and of our children’s earliest environments may be even more important. Let’s invest in parents so they can better invest in their children.
  • Fundamentally, it means rethinking our still-persistent notion that educational problems should be solved by schools alone.
Javier E

What Taxing the Rich Could Yield - 0 views

prospect.org/...what-taxing-rich-could-yield

economics rich inequality wealth tax inherited

shared by Javier E on 30 Jan 19 - No Cached
  • IPS, details how the nation’s 15 wealthiest families—some with household names (Walton, Koch, Mars), some perhaps less-known (Duncan, Bass, Stryker)—are worth a combined $618 billion. Overwhelmingly, this is inherited money; the companies from which these families derive their wealth were all started at least a generation ago.
  • The report takes 1982—the first year the Reagan tax cuts on the rich took effect, and the year that Reagan’s Security and Exchange Commission legalized stock buybacks—as its point of departure. In that year, a person needed $75 million to qualify for the Forbes 400. A nice pile of money for sure, but today a person needs at least $2.1 billion, meaning that in the past 36 years, the bar for entry has risen by 2,800 percent. 
  • The three richest families—the Waltons, the Kochs, and the Marses—saw their wealth grow by almost 6,000 percent since 1982, when the Forbes 400 was first published
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  • even these families’ original patriarchs wouldn’t have had capable employees absent the public investment in schools, or been able to move their goods absent the public investment in roads, or been able to protect their property absent the public investment in policing. Nonetheless, Hoxie points out, many rich people then “use their wealth and their economic power to protect themselves and shield themselves from contributing anything for the public good
  • Adjusted for inflation, median wealth in 1983 was roughly $84,000. So, while wealth at the top has exploded, the wealth at the bottom and in the middle has stagnated—and the racial wealth gap continues to grow, too.
  • the wealth of these families allows them to both aggressively protect their fortunes and also lobby to influence policy ... often to protect their fortunes.
  • Together these three families own $348.7 billion, as much wealth as the four million families whose wealth—roughly $80,000—is at the national median. 
  • “Some 10 percent of the world’s wealth has vanished,” Collins tells the Prospect. “Where is that money? It’s in our midst. Real estate, art—all those assets are owned by trusts and entities that don’t require disclosure, so the wealth is still bouncing around—disrupting our local economies and [enabling the wealthy to inflate] housing markets.”
  • One way wealthy families have used their influence and millions has been to lobby against the estate ta
  • That campaign has been notably successful. The GOP tax law doubled the estate tax exemption; wealthy families can now pass on up to $22 million without the estates being taxed. (While inheritances demonstrably reduce the incentive for rich heirs to work, the GOP also pushes forward work requirements in assistance programs as “work incentives.”) 
  • Through their backing of right-wing think tanks, campaigns, and candidates, the Koch brothers, John M. Olin, Richard Mellon Scaife, and the DeVos family have “moved the Republican party so far to the right that Trump could stomp in and grab it,” wrote Klein
  • The IPS report focuses on two redistributive taxes that could have significant effects—taxing inheritances and implementing a flat tax on wealth.
  • “We’re not a society trying to create kings and queens and piles of hereditary fortunes,” says Collins, “but that’s essentially where we’re heading if we don’t intervene to break up these wealth dynasties. And if you think we’re already there,” he adds, the future “will be worse.”
g-dragon

Honor Killings or Shame Killings in Asia - 0 views

www.thoughtco.com/honor-killings-in-asia-4059398

honor killing cultural phenomenon

shared by g-dragon on 15 Jan 18 - No Cached
  • In many of the countries of South Asia and the Middle East, women can be targeted by their own families for death in what is known as “honor killings.” Often the victim has acted in a way that seems unremarkable to observers from other cultures; she has sought a divorce, refused to go through with an arranged marriage, or had an affair. In the most horrifying cases, a woman who suffers a rape then gets murdered by her own relatives.
  • In fact, women have been killed when their families knew they were completely innocent; just the fact that rumors had started going around was enough to dishonor the family, so the accused woman had to be killed.
  • In some cases, however, men may also be victims of honor killing, particularly if they are suspected of being homosexual, or if they refuse to marry the bride selected for them by their family.
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  • honor killing in Arab cultures is not solely or even primarily about controlling a woman’s sexuality, per se.
  •   Rather, Dr. Kanaana states, “What the men of the family, clan, or tribe seek control of in a patrilineal society is reproductive power.  Women for the tribe were considered a factory for making men. The honor killing is not a means to control sexual power or behavior. What’s behind it is the issue of fertility, or reproductive power.”
  • any alleged misbehavior reflects dishonor on their birth families rather than their husbands’ families.
  • Interestingly, honor murders are usually carried out by the fathers, brothers, or uncles of the victims – not by husbands.
  • killed by her blood relatives.
  • A woman’s reproductive potential belonged to her birth family, and could be “spent” any way they chose – preferably through a marriage that would strengthen the family or clan financially or militarily.
  • When Islam developed and spread throughout this region, it actually brought a different perspective on this question. Neither the Koran itself nor the hadiths make any mention of honor killing, good or bad. Extra-judicial killings, in general, are forbidden by sharia law; this includes honor killings because they are carried out by the victim’s family, rather than by a court of law.
  • Nonetheless, today many men in Arab nations such as ​Saudi Arabia, ​Iraq, and Jordan, as well as in Pashtun areas of Pakistan and Afghanistan, adhere to the tradition of honor killing rather than taking the accused persons to court.
  • It is notable that in other predominantly Islamic nations, such as Indonesia, Senegal, Bangladesh, Niger, and Mali, honor killing is a practically unknown phenomenon.  This strongly supports the idea that honor killing is a cultural tradition, rather than a religious one.
rerobinson03

An Immigrant Family Caught Up in a Distinctly American Tragedy: The Boulder Shooting - The New York Times - 0 views

www.nytimes.com/...boulder-gunman-alissa.html

shared by rerobinson03 on 28 Mar 21 - No Cached
  • After years of moving from rental to rental, they bought a seven-bedroom gabled home in the Denver suburbs near golf courses and walking trails. Their children attended high-rated schools. The family ran a handful of Middle Eastern restaurants across the Denver area where customers raved about the lamb kebabs and the pillowy pitas. Friends recalled the big, multigenerational family as hard-working and generous.
  • On a now-deactivated Facebook page, Mr. Alissa said he had moved to the United States in 2002, years before a vicious civil war turned millions of Syrians into refugees. The Syrian cities that some in his family name as their hometowns — Aleppo and Raqqa — became bombed-out battlegrounds and a haven for the Islamic State as Mr. Alissa and his siblings were growing up and starting businesses in the United States.
  • Records show that at various times, the Alissa brothers also ventured into a car-service business and — at one point — junk removal. A brother-in-law, Usame Almusa, a recent immigrant from Syria, filed corporate papers to form yet another restaurant business. The family moved at least three times over the past two decades, from the largely middle-class city of Aurora to an apartment in Denver to a rental in Arvada, where a former neighbor remembers family members sometimes stopping by to ask questions about the suburban chores of lawns and weeding.
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  • In 2014, Ahmad’s older brother Imad pleaded guilty in Denver to carrying a concealed weapon, records show. He was arrested again four years later on a charge of possession of a weapon by a previous offender, though prosecutors did not pursue charges.In 2016, a female member of the family pleaded guilty to a charge of reckless endangerment and was given a deferred sentence after she agreed to take a parenting class.In 2018, the Arvada police responded to a call at the house that stemmed from a dispute between Imad Alissa and his wife, Ms. Archuleta’s daughter. The couple had broken up (they later reconciled, Ms. Archuleta said), and a fight over a torn mattress had escalated to the point that the police were called.
  • Six days before the attack, Mr. Alissa bought a Ruger AR-556 pistol, a handgun that resembles a shortened assault-style rifle, from a gun store just three miles from the family home. About two days before the attack, a relative saw him back at the family home, playing with what she told the police looked like a “machine gun.”After the attack, the Mercedes C-class sedan that was often seen parked in the driveway of the large family house was one of the cars left in the parking lot at the King Soopers grocery, along with all of the other cars whose owners would not be driving them home. An empty rifle case was left in the passenger compartment.
lmunch

Opinion | Biden's American Families Plan Should Give Power to Parents - The New York Times - 0 views

www.nytimes.com/...biden-child-care.html

Biden Family Plan Politics US Culture economics

shared by lmunch on 30 Apr 21 - No Cached
  • We live in a diverse country, where people have a lot of different preferences about how to live. For example, a 2016 Pew Research Center survey found that 59 percent of Americans believed children with two parents were better off if one parent stayed at home, but 39 percent thought children were just as well off if both parents worked.
  • Our debates about family structure have been poisoned by people who can’t acknowledge difference without immediately rendering some judgment. family pluralism is a source of strength for this country, not a weakness.
  • people in the working class and to a lesser extent the middle class are more likely to prefer the “breadwinner” model, in which one parent stays home, when children are younger than 5. Families making more than $150,000 are more likely to admire the “dual earner” model, in which both parents work.
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  • The role of government is to help people build the kind of family they prefer, not tell them what kind of family they should prefer. Government should be neutral about what kind of family is best.
  • The child tax credit will help millions of families do what surveys show they already want to do — have more kids than they can now afford, and spend more time at home.
  • First, getting people working. “We want parents to be in the work force, especially mothers,” said Susan Rice, head of the Domestic Policy Council. Second, the administration wants kids in classroom settings, to extend the public school system down two years. The administration is aggressively expanding child care subsidies and pre-K programs.
  • “It turns out that putting money directly into the pockets of low-income parents, as many other countries do, produces substantially larger gains in children’s school achievement per dollar of expenditure than does a year of preschool or participation in Head Start.”
  • “Because the Biden administration is trying to be all things to all people,” Wilcox emailed me, “it partially funds a number of initiatives, including the child allowance. I’d much rather see the administration cut out the money promised for pre-K and child care and fully fund a generous child allowance.”
  • Over the past few decades the economy has placed enormous strain on American families, forcing people to have fewer kids and spend less time with them than they would prefer. A fully generous child tax credit would give some parents a chance to step back from the job market for a few years while their kids were young — if they so chose.
lmunch

Opinion | America Is Brutal to Parents. Biden Is Trying to Change That. - The New York Times - 0 views

www.nytimes.com/...biden-speech-child-care.html

Biden Family Plan Politics US Culture economics gop

shared by lmunch on 30 Apr 21 - No Cached
  • When Patty Murray joined the Senate in 1993, one of the first bills she worked on was the Family and Medical Leave Act, which guaranteed 12 weeks of unpaid Family leave for people who worked at companies with 50 or more employees.
  • But in the following 28 years, no other major piece of family legislation has passed. (The biggest was probably the bill Donald Trump signed in 2019 giving paid leave to federal employees.)
  • America might finally become a country where having children doesn’t mean being left to fend for oneself in a pitiless marketplace.
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  • There are several reasons our domestic policy has long been uniquely hostile to parents, but two big ones are racism and religious fundamentalism. Essentially, it’s been politically radioactive for the federal government to support Black women who want to stay home with their kids, and white women who want to work.
  • Ever since, efforts to expand government-supported child care have faced furious opposition from the religious right.
  • But Schlafly-style conservatives have less power than they used to. Religious fundamentalists have decisively lost the culture war about women working, and about family values more generally; the party of Donald Trump and Matt Gaetz is in no position to lecture anyone about their domestic arrangements.
  • The public policy debate is thus no longer whether to subsidize child rearing, but how. Mitt Romney’s Family Security Act, for example, would give parents $350 a month for each child under 6, and $250 a month for children between 6 and 17, up to $1,250 per Family per month.
  • With the laissez-faire economic assumptions that dominated America since the Reagan administration discredited, Democrats no longer cower when the right accuses them of fostering big government. As Biden said in his address to Congress on Wednesday, “Trickle-down economics has never worked.”
  • “Our country has taken a turn, and I believe Covid had a lot to do with it,” said Murray. Families, she said, are acutely aware of the unmanageable stress they’re under, and they’re saying, “I want my country to deal with it.” For the first time in my lifetime, there’s hope that it will.
katherineharron

Immigration: Biden to sign executive orders and establish task force to reunite separated families - CNNPolitics - 0 views

www.cnn.com/...index.html

biden

shared by katherineharron on 02 Feb 21 - No Cached
  • President Joe Biden will sign three executive orders Tuesday that take aim at his predecessor's hardline immigration policies and try to rectify the consequences of those policies, including by establishing a task force designed to reunite families separated at the US-Mexico border, according to senior administration officials.
  • "President Trump was so focused on the wall that he did nothing to address the root cause of why people are coming to our southern border. It was a limited, wasteful and naive strategy, and it failed," one senior administration official said. "President Biden's approach is to deal with immigration comprehensively, fairly, and humanely."
  • Hours into his presidency, Biden moved to swiftly undo many Trump administration policies in a series of executive actions.
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  • On Tuesday, Biden is expected to follow his first-day actions by tackling family separation, the root causes of migration, and the legal immigration system.
  • The Senate is also expected to confirm Alejandro Mayorkas as Homeland Security secretary on Tuesday, after Monday night's vote was delayed due to weather.
  • Biden pledged to set up a task force focused on identifying and reunifying families separated at the US-Mexico border under the Trump administration's controversial "zero tolerance" policy.
  • The task force will be chaired by the Department of Homeland Security secretary and work across the US government, along with partners, to find parents separated from their children under the former administration. CNN previously reported that first lady Jill Biden is expected to take an active role in the task force.
  • It will be charged with identifying all children separated from their parents or legal guardians on the southern border, facilitating and enabling the reunification of children with their families,
  • Lawyers are unable to reach the parents of 611 children who had been split from their families by US border officials between 2017 and 2018, according to the latest court filing in an ongoing family separation case.
  • "The Biden administration is committed to remedying this awful harm the Trump administration inflicted on families," a senior administration official said, calling the policy a "moral failure" and "national shame."
  • "The goal of the task force is one to identify, but two to make recommendations as to how the families can be united, taking into account the menu of options that exist under immigration law," the official said.
  • The administration plans to provide aid to the region to support initiatives combating corruption and revive the Central American minors program that had been ended by Trump and allows certain at-risk youths to live in the US, according to a senior administration official.
  • The policy, informally known as "Remain in Mexico," has left thousands of asylum seekers waiting in dangerous and deplorable conditions on the border.
  • The Biden administration has stopped new enrollments into the program, but has not disclosed its plans to address the thousands of migrants still waiting in Mexico, saying only that they will be taken into account as new systems are put in place.
  • "The situation at the border will not transform overnight," a senior administration official said. "This is in large part due to the damage done over the last four years,
  • The order will also call for a series of actions to restore the asylum system, which was drastically changed over the last four years and made it exceedingly difficult for migrants to be granted asylum in the US.
  • Like the other executive orders, it also seeks to reverse Trump-era policies that targeted low-income immigrants, including calling for a review of the public charge rule which makes it more difficult for immigrants to obtain legal status if they use public benefits such as Medicaid, food stamps and housing vouchers.
Javier E

Children Lost in War Zones and Disasters Find Their Families With an App - NYTimes.com - 0 views

bits.blogs.nytimes.com/...ind-their-families-with-an-app

children disaster unification family software role model development activism

shared by Javier E on 20 Aug 13 - No Cached
  • Meant to run on hardware already in the field, like Blackberry devices, RapidFTR can add a child to the system with only scant bits of information. If a child cannot give their full name, or is too young or too scared speak, a photo alone can begin the process. The app works both with and without a wireless connection, by syncing to a server later, if needed.
  • His earlier projects in the N.Y.U. program were more whimsical. He created things like automated telephone pranks, but the child reunification app became his master’s thesis, and he later joined UNICEF as an employee. With the assistance of some pro-bono engineering from the software company Thoughtworks, he was able to get the program going and then recruited an army of volunteers to build RapidFTR
  • Today the program is entirely open-source and driven by volunteers. Mr. Just, too, has now become a volunteer for his own app, in addition to teaching the “Design for UNICEF” class that he was once a student in.
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  • Mr. Just said that he was aware of at least 70 children who have been reunited with their families through the app so far.
  • In considering his own project, as well as those of his future students, Mr. Just said, “one of the things I kept telling myself, was: you don’t have to ‘change the world’ to change the world.” SaveE-mailSharePrint
Javier E

Of Baguettes And Black Families - Ta-Nehisi Coates - The Atlantic - 0 views

www.theatlantic.com/...279678

African-American family history historiography

shared by Javier E on 14 Sep 13 - No Cached
  • how do you make the claim that racism is linked to the destruction of the black family when the black family was in fact strongest during time periods when racism was substantially more prevalent than today?
  • From 1880 through 1960, the percentage of black children with at least one absent parent was fairly stable and about two-and-one-half times greater than the percentage among whites. Recently, the percentages of both black children and white children with absent parents have risen dramatically
  • while it's true that you see a dramatic increase in single-family homes in 1960, the gap is about as old as our data. Ruggles was able to get ahold of census micro-data and basically concluded as much. If you look at the report you can see on Table 2 that as early as 1880 there were roughly double the percentage of black children born to single mothers as to whites (13.1 to 5.9.)
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  • let's look at some historiography courtesy of University of Minnesota professor Steven Ruggles and his article "The Origins of the African-American Family Structure."
  • What is the source of this distinctive African-American pattern of single parenthood? Recent economic changes can be invoked to explain the growing differential between black family structure and white family structure, but they cannot explain why blacks started from a higher base.
  • The change in marriage is not a "black" problem, and I am not even convinced that it is a "problem."
  • It is not simply a question of "Is marriage good for kids?" It's "Are shotgun marriages good for kids?" "Should marriage be valued at all costs, including enduring abuse or ill-treatment?"
katyshannon

Drug C.E.O. Martin Shkreli Arrested on Fraud Charges - The New York Times - 0 views

www.nytimes.com/...shkreli-fraud-charges.html

martin arrested fraud charges new york times US

shared by katyshannon on 18 Dec 15 - No Cached
  • It has been a busy week for Martin Shkreli, the flamboyant businessman at the center of the drug industry’s price-gouging scandals. From Our Advertisers quot;frameC
  • He said he would sharply increase the cost of a drug used to treat a potentially deadly parasitic infection. He called himself “the world’s most eligible bachelor” on Twitter and railed against critics in a live-streaming YouTube video. After reportedly paying $2 million for a rare Wu-Tang Clan album, he goaded a member of the hip-hop group to “show me some respect.”
  • Then, at 6 a.m. Thursday, F.B.I. agents arrested Mr. Shkreli, 32, at his Murray Hill apartment. He was arraigned in Federal District Court in Brooklyn on securities fraud and wire fraud charges.
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  • In a statement, a spokesman for Mr. Shkreli said he was confident that he would be cleared of all charges.
  • Mr. Shkreli has emerged as a symbol of pharmaceutical greed for acquiring a decades-old drug used to treat an infection that can be devastating for babies and people with AIDS and, overnight, raising the price to $750 a pill from $13.50. His only mistake, he later conceded, was not raising the price more.
  • Those price increases combined with Mr. Shkreli’s jeering response to his critics has made him a lightning rod for public outrage and fodder for the presidential campaign. His company, Turing Pharmaceuticals, and others, like Valeant Pharmaceuticals, have come under fire from lawmakers and consumers for profiting from steep price increases for old drugs.
  • But the criminal charges brought against him actually relate to something else entirely — his time as a hedge fund manager and when he ran his first biopharmaceutical company, Retrophin.
  • Still, for many of his critics, Mr. Shkreli’s arrest was a comeuppance for the brash executive who has seemed to enjoy — relish, even — his public notoriety. On Thursday, a satirical New Yorker column by the humorist Andy Borowitz said Mr. Shkreli’s lawyers had informed their client their hourly legal fees had increased by 5,000 percent.
Javier E

Companies' pursuit of high profits is making the rich richer at everyone else's expense, according to new research - The Washington Post - 0 views

www.washingtonpost.com/...expense-according-new-research

profit monopoly income distribution inequality piketty economics

shared by Javier E on 01 Jan 19 - No Cached
  • In 2016, U.S. companies' pursuit of bigger profits through higher prices transferred three percentage points of national income from the pockets of low-income and middle-class families to the wealthy, according to new research on market concentration and inequality.
  • The study, forthcoming in the Oxford Review of Economic Policy, examines how growing corporate power, particularly in industries dominated by shrinking numbers of huge companies, effectively “transfer[s] resources from low-income families to high-income families.
  • In the latter part of the 20th century, the share of U.S. households owning some form of stock rose dramatically, from 32 percent in 1989 to 52 percent in 2001. That shift was driven largely by a decline in defined-benefit pension plans and the rise of the 401(k) retirement account. As a result, the traditional line between shareholders and consumers has become blurrier than ever. That’s led a number of economists to declare that what’s good for shareholders is also, by definition, good for the middle class.
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  • At the risk of oversimplifying, take the example of a family with a diabetic member who must pay for insulin on a regular basis
  • The family also happens to own stock in the three powerful pharmaceutical companies that manufacture insulin in the United States
  • price increases have resulted in higher profits for company executives and their shareholders.
  • Whether those price hikes ultimately harm or benefit the family depends on two factors: how much they spend on insulin and how much of a stake in the insulin companies they own through the stock market.
  • researchers use data from the federal Survey of Consumer Finances and the Consumer Expenditure Survey to calculate the distribution of corporate equity (e.g., stocks and business equity) and of total consumer expenditures. They find that corporate equity is much more unequally distributed than expenditures.
  • The top 20 percent of U.S. households own nearly 90 percent of the country’s total equity, according to their calculations. But those households account for a hair under 40 percent of total consumer spending
  • the bottom 80 percent of the country owns just 10 percent of the equity but spends 60 percent of the money.
  • On net, that means it’s nearly impossible for the typical U.S. family to make up for higher prices via the performance of their stock portfolio. When prices rise, low- and middle-class families pay. Wealthy families profit
  • They find that monopolistic pricing takes a bite out of every income group’s share of national income, with the notable exception of the top 20 percent, whose incomes rise. In effect, companies are using their market power to extract wealth from poor and middle-class households and deposit it in the pockets of the wealthy, to the tune of about 3 percent of national household income in 2016.
  • The implication of these findings is that antitrust enforcement has potential to be a tool in the fight against rising inequality by reducing the ability of large companies to set high prices that primarily benefit the wealthy. Conversely, the findings suggest that a recent lapse in that enforcement is contributing to the growing gap between the rich and poor.
katherineharron

90% of people are biased against women. That's the challenge we face - CNN - 0 views

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  • Almost 90% of the world's men, and women, are biased in some way against women, according to the Gender Social Norms Index. Half of men and women feel that men make better political leaders. More than 56% feel that men have more right to a job and/or make better business executives. Read Moreclose dialogGet the strongest, smartest opinion takes of the weekSign up for CNN Opinion’s Provoke/Persuade weekly newsletter.Please enter aboveProvoke/Persuade MeBy subscribing you agree to ourprivacy policy. Thanks For SubscribingContinue Readingclose dialog/* effects for .bx-campaign-1118904 *//* rendered styles .bx-campaign-1118904 */.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative> *:first-child {width: 780px;padding: 38px 40px 30px 40px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative> *:first-child {width: 400px;padding: 20px;}}@media all and (min-width: 737px) and (max-width: 1024px) {.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative> *:first-child {width: 737px;}}.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative:before {min-height: 285px;}.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative {background-color: #1a1a1a;border-style: none;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904.bx-active-step-1 .bx-creative:before {min-height: 170px;}}.bxc.bx-campaign-1118904.bx-active-step-1 .bx-close {width: 20px;stroke: rgb(169, 169, 169);}.bxc.bx-campaign-1118904 .bx-group-1118904-f4RmyBG {width: 100%;padding: 0px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-group-1118904-f4RmyBG {width: 90%;padding: 0px;text-align: center;}}.bxc.bx-campaign-1118904 .bx-element-1118904-AvMDwAa {width: 80px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-AvMDwAa {text-align: center;}}.bxc.bx-campaign-1118904 .bx-element-1118904-AvMDwAa> *:first-child {position: absolute;left: 30;top: 20px;width: 80px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-AvMDwAa> *:first-child {position: relative;left: 0;top: -10px;width: 80px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-wb2hGrX {width: 100%;padding: 20px 0 20px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-wb2hGrX {padding: 0 0 15px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-wb2hGrX> *:first-child {font-size: 28px;font-family: CNN,Helvetica Neue,Verdana,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;color: white;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-wb2hGrX> *:first-child {font-size: 25px;}}@media all and (min-width: 737px) and (max-width: 1024px) {.bxc.bx-campaign-1118904 .bx-element-1118904-wb2hGrX> *:first-child {font-size: 30px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-HZChuZO {padding: 0px 0px 20px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-HZChuZO {width: auto;padding: 0px 0px 10px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-HZChuZO> *:first-child {font-size: 17px;font-family: CNN,Helvetica Neue,Verdana,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;color: white;letter-spacing: 0.01em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-HZChuZO> *:first-child {font-size: 13px;padding: 0px 20px ;}}.bxc.bx-campaign-1118904 .bx-group-1118904-AjvDVXy {width: 100%;padding: 0px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-group-1118904-AjvDVXy {width: 300px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-KUTn3wM .bx-el {padding: 15px;font-size: 12px;font-family: CNN,Helvetica Neue,Verdana,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;border-style: solid;border-color: rgb(220, 220, 220);}@media all and (max-width: 736px) {.bxc.bx-campaign-1118904 .bx-element-1118904-KUTn3wM .bx-el {font-size: 12px;padding: 12px;}}.bxc.bx-campaign-1118904 .bx-element-1118904-
  • Around the world, women are equally likely to vote, but only 10% out of 193 heads of government are female, according to the Pew Research Center. Women are overrepresented in low-wage employment, but represent only 21% of employers and 12% of billionaires. They are about equally represented in jobs at S&P Fortune 500 companies, but represent only 5.8% of the total CEOs, the index found.
  • People's reactions to a woman's pregnancy at work is a good example of how much bias still exists. In the United States, as recently as 2011, some employers still fired employees on the spot who had become pregnant, according to a report by the Center for WorkLife Law at the University of California's Hastings College of the Law. (That's illegal.) More subtly, women announcing a pregnancy may be taken off the partner track or denied raises and bonuses. (Also illegal.) A pregnancy can easily reset the course of a woman's career. Pregnancy discrimination is widespread and difficult to police.
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