Two days ago, it looked like moderates in the House of Representatives, led by John Boehner, had finally concocted a plan to avert a default and end the government shutdown. Then the plan went down in flames.
The deal, the result of weeks of haggling, removed proposals to defund Obamacare and left in its place a provision stripping healthcare from Congressional staffers. It was an cruel deal, but a deal nontheless, with the support of a majority in the House. And it looked like it was going to pass until this:
The top 1 percent captured 95 percent of the income growth during the economic recovery. That’s just one depressing lowlight in Thomas Piketty and Emmanuel Saez's 2012 update on the fortunes of the nation's top earners.
Are people better off than they were before the recession? By most headline figures they’re not: Poverty and inequality have risen to record levels, median incomes declined. Unemployment has improved marginally, but 37 states have yet to regain their pre-recession job levels.
On Monday, Ezra Klein argued that “conventional wisdom on Washington is that corporations win every fight and everyone else — particularly the poor — get shafted" is, wait for it, "wrong, or at least incomplete."
While Sheldon Adelson and the Koch brothers have become emblematic of outside spending at the national level, it is local outside spending that could have the greatest impact on policy.
Jerry Perenchio is California's homegrown Sheldon Adelson, and he's using his fortune to decide the future of the nation's most populous state. California's income inequality is among the worst in the country. And as the ongoing fight over Proposition 30 shows, that often translates into political inequality.