Ireland is about to /upchuck/. Watch the elections.
And with the new ultra right voted in in France, watch the action
against immigrants /esp. Muslim/.
"This world may be a poppin afore ya know it"!!!
We are about to live in /interesting times/.
Darryl
On 1/16/2011 8:30 PM, Michael Gurstein wrote:
-----Original Message-----
*From:* [email protected] [mailto:[email protected]] *On
Behalf Of *Sid Shniad
*Sent:* Sunday, January 16, 2011 4:20 PM
*Subject:* Austerity Policies Worsen Racial Economic Inequalities, Hit
Blacks and Latinos Hardest
http://www.informationclearinghouse.info/article27258.htm
*Austerity Policies Worsen Racial Economic Inequalities, Hit Blacks
and Latinos Hardest*
*By United for a Fair Economy
January 14, 2010**"**Information Clearing House*
<http://www.informationclearinghouse.info/>*" *--*-- The *official
unemployment rate is 15.8 percent among Blacks and 13 percent among
Latinos; Blacks earn only 57 cents for each dollar of White family
income, Latinos earn 59 cents; and Blacks have only 10 cents of net
wealth while Latinos have 12 cents to every dollar of net wealth that
Whites have. As documented in the "State of the Dream 2011: Austerity
for Whom?," this is the precarious state in which Blacks and Latinos
find themselves as the nation, still struggling amidst the Great
Recession, remembers the life of Dr. Martin Luther King Jr. who was
gunned down while leading the Poor People's Campaign in 1968.
The 8th annual "State of the Dream" report from *United for a Fair
Economy* analyzes the policy positions of the new House majority --
shrinking government and cutting taxes for those at the top -- and
their implications on communities of color. "Austerity measures based
on the conservative tenets of less government and lower taxes will
ratchet down the standard of living for all Americans, while
simultaneously widening our nation's racial and economic divide, "
said Brian Miller, Executive Director of United for a Fair Economy and
co-author of the report.
Original analyses in "State of the Dream 2011" show the clear
beneficiaries of the top-end tax cuts included in the December tax
deal. Whites are three times more likely than Blacks and 4.6 times
more likely than Latinos to have incomes of $250,000 or more, and thus
receive a disproportionate benefit from the extension of the Bush tax
cuts for top-tier earners. Special tax breaks for investment income
flow overwhelmingly to Whites as well. Blacks earn 13 cents and
Latinos earn 8 cents to each dollar of White dividend income. Capital
gains income shows similar disparities as documented in the report.
"The deficits that these tax cuts help create are being used to
justify a host of austerity measures that will harm Americans of all
races, but will hit Blacks and Latinos the hardest," adds Miller.
"With 42 percent of Blacks and 37 percent of Latinos lacking the funds
to meet minimal household expenses for even three months should they
become unemployed, cutting public assistance programs will have
devastating impacts on Black and Latino workers." The report documents
the relative importance of safety net programs under threat, such as
Social Security, to Blacks and Latinos.
"On the front line of the budget cuts are the state and federal
workers that police our streets, educate our children, and inspect our
food supplies," adds Miller. "Severe cuts to our public sector work
force will erode our nation's ability to meet the needs of all
Americans regardless of race. At the same time, the brunt of those
layoffs will be felt by African-Americans who are disproportionately
employed in public sector jobs for a host of historic reasons." Blacks
are 30 percent more likely to work in public sector jobs than the
general work force and 70 percent more likely to work for the federal
government. The report also documents the greater strides that Blacks
and Latinos have made in achieving parity with their White
counterparts in the public administration jobs threatened by budget
cut proposals.
The report -- which can be downloaded at
http://www.faireconomy.org/dream
<http://us.rd.yahoo.com/dailynews/usnw/pl_usnw/storytext/DC30431/39659089/SIG=112m7gom3/*http://www.faireconomy.org/dream>
-- calls on policy makers to reject austerity measures that will
increase economic inequality and worsen the racial divide. In light of
the startling facts of racial economic disparity documented in the
report, additional policy steps are called for, including: increased
federal aids to states and cities, effective jobs programs, restoring
the progressive tax system, redirecting unproductive federal spending,
strengthening workers rights, and protecting public sector jobs.
*/United for a Fair Economy/*/is a national, independent, nonpartisan,
501(c)(3) non-profit organization located in Boston, MA, which works
to rein in extreme inequalities and promote a more broadly shared
prosperity. More at http://www.faireconomy.org. /
!DSPAM:2676,4d338b38308682887010388!
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