It seems that every time we turn on or read the news, it is bad news. We learn about more violence and suffering in the Middle East; we hear that there was an attack at a school or hospital or workplace by a deranged assailant here in our country. We have daily weather reports of dangerous conditions in different parts of our land and are reminded of the threat from global warming. We are being made aware of more groups of underdogs who are in need of relief - refugees, illegal immigrants, minorities, the aged, the disabled, union members, the middle class, LGBTQ members, the bottom 99% and, most recently, the non billionaires.
All this news can be quite depressing.
Here is some good news.
Recent studies have found that the world poverty is declining with fewer people in the world living in the most extreme levels of poverty. Economic situations are improving in Asia and Africa and even in a few parts of Latin America.
In America more than 16 million people have health coverage for the first time thanks to the Affordable Care Act. The stock market which gauges the worth of American corporations has almost tripled since its low in the start of 2009 of 6,000. Large American banks have submitted to and passed stringent tests of their viability making a repeat of the 2008 recession due to bank failure, less likely. Home values have bounced back across most of the country boosted by low mortgage rates and a recovering economy. The American car business is doing better than ever a far cry from where they were seven years ago, with G.M. and Chrysler facing bankruptcy. Middle class wage earners saw a 2.5% increase in wages this year with inflation pegged at almost 0% led by gas prices that are down by more than half.
The income disparity, called by some the inequality, is less than originally declared by economists. The disparity was magnified by using pre-tax dollars and not considering in-kind benefits. The high income earners have to pay federal, state, local, sales, and property taxes, usually make large charitable contributions and pay huge interest payments. Their net income is much less than their gross and should not include future stock options as it usually is.
Those on the low end of the economic ladder get in-kind benefits from free breakfast and lunch programs for their children in public school, rent subsides, food stamps, free medical coverage (Medicare or Medicaid), utilities subsidies and Earned Income Tax Credits. These benefits could add significantly to a low income’s net. Raising the minimum wage to $15 an hour within the next few years would help narrow the income gap as would a simple federal tax code that eliminates all itemized deductions and counts all income sources equally taxable.
And those in the middle have all kinds of untaxed and uncounted fringe benefits from work. People working in large private or public organizations can get half of the FICA payment taken care of by the employer as are the health coverage costs, and the contributions toward a pension or 401k plan. For large city workers like those in San Francisco, the employee fringe benefits could be 33% of the gross income but would not be taxed nor would they be counted as income by these economists.
But still the rich are too rich and the poor are too poor.
The number of homeless is also decreasing with efforts underway to eliminate the problem in the very near future. It has been our nation’s great disgrace that in a land of such plenty there could be people living outside in parks and on sidewalks.
More is being done to train police officers to be more like guardians than warriors, teaching them methods to de-escalate difficult situations. Police departments are equipping officers with body cameras to document arrests. The cameras will also help make police and suspects more attentive to their responses. Improved education and economic conditions should make minority communities feel more a part of rather than apart from the general population thus reducing the drive for violence.
With cities and states are increasing their minimum wages with some going as high as $15 an hour, twice the national minimum, the increased income will make individuals and families more able to enjoy the fruits of their labor while contributing more in taxes and FICA payments which feed our entitlement programs for the aged and disabled.
The nation’s abortion rate is at a longtime low as are the number of teenage pregnancies which are down by 60% from their peak.
More than 190 nations have just signed an accord to fight global warming by reducing harmful emissions from fossil fuels. Climate scientists believe that if the promises are kept, the planet could be saved from going over the brink making life unbearable.
On the local level, global warming or climate change, as it is also known, has brought great weather to San Francisco for the past four years or so. The downside to this great run of sunny days with little wind or fog or rain has been the worst drought in California history. The good news is that the water shortage that affected most of the state will soon be over thanks to El Nino which will bring much rain for the next three months, if predictions hold. Some people will be reluctant to admit that once again in a few months a longtime drought will really be over.
So there is much good news and reason to be grateful. It should inspire us to continue the trend and fix the problems that still exist. The rich are too rich and the poor is still too poor. We must improve our public education system from K-14, including junior college. We must learn to be much less violent, less narcissistic and less wasteful. We need to bring manufacturing jobs back to our land so that we can be self sufficient and self reliant. We need more integrity, less sensationalism and a greater sense of unity in our vast diversity.
All this news can be quite depressing.
Here is some good news.
Recent studies have found that the world poverty is declining with fewer people in the world living in the most extreme levels of poverty. Economic situations are improving in Asia and Africa and even in a few parts of Latin America.
In America more than 16 million people have health coverage for the first time thanks to the Affordable Care Act. The stock market which gauges the worth of American corporations has almost tripled since its low in the start of 2009 of 6,000. Large American banks have submitted to and passed stringent tests of their viability making a repeat of the 2008 recession due to bank failure, less likely. Home values have bounced back across most of the country boosted by low mortgage rates and a recovering economy. The American car business is doing better than ever a far cry from where they were seven years ago, with G.M. and Chrysler facing bankruptcy. Middle class wage earners saw a 2.5% increase in wages this year with inflation pegged at almost 0% led by gas prices that are down by more than half.
The income disparity, called by some the inequality, is less than originally declared by economists. The disparity was magnified by using pre-tax dollars and not considering in-kind benefits. The high income earners have to pay federal, state, local, sales, and property taxes, usually make large charitable contributions and pay huge interest payments. Their net income is much less than their gross and should not include future stock options as it usually is.
Those on the low end of the economic ladder get in-kind benefits from free breakfast and lunch programs for their children in public school, rent subsides, food stamps, free medical coverage (Medicare or Medicaid), utilities subsidies and Earned Income Tax Credits. These benefits could add significantly to a low income’s net. Raising the minimum wage to $15 an hour within the next few years would help narrow the income gap as would a simple federal tax code that eliminates all itemized deductions and counts all income sources equally taxable.
And those in the middle have all kinds of untaxed and uncounted fringe benefits from work. People working in large private or public organizations can get half of the FICA payment taken care of by the employer as are the health coverage costs, and the contributions toward a pension or 401k plan. For large city workers like those in San Francisco, the employee fringe benefits could be 33% of the gross income but would not be taxed nor would they be counted as income by these economists.
But still the rich are too rich and the poor are too poor.
The number of homeless is also decreasing with efforts underway to eliminate the problem in the very near future. It has been our nation’s great disgrace that in a land of such plenty there could be people living outside in parks and on sidewalks.
More is being done to train police officers to be more like guardians than warriors, teaching them methods to de-escalate difficult situations. Police departments are equipping officers with body cameras to document arrests. The cameras will also help make police and suspects more attentive to their responses. Improved education and economic conditions should make minority communities feel more a part of rather than apart from the general population thus reducing the drive for violence.
With cities and states are increasing their minimum wages with some going as high as $15 an hour, twice the national minimum, the increased income will make individuals and families more able to enjoy the fruits of their labor while contributing more in taxes and FICA payments which feed our entitlement programs for the aged and disabled.
The nation’s abortion rate is at a longtime low as are the number of teenage pregnancies which are down by 60% from their peak.
More than 190 nations have just signed an accord to fight global warming by reducing harmful emissions from fossil fuels. Climate scientists believe that if the promises are kept, the planet could be saved from going over the brink making life unbearable.
On the local level, global warming or climate change, as it is also known, has brought great weather to San Francisco for the past four years or so. The downside to this great run of sunny days with little wind or fog or rain has been the worst drought in California history. The good news is that the water shortage that affected most of the state will soon be over thanks to El Nino which will bring much rain for the next three months, if predictions hold. Some people will be reluctant to admit that once again in a few months a longtime drought will really be over.
So there is much good news and reason to be grateful. It should inspire us to continue the trend and fix the problems that still exist. The rich are too rich and the poor is still too poor. We must improve our public education system from K-14, including junior college. We must learn to be much less violent, less narcissistic and less wasteful. We need to bring manufacturing jobs back to our land so that we can be self sufficient and self reliant. We need more integrity, less sensationalism and a greater sense of unity in our vast diversity.
