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American Politics 101-page9

American Politics 101-page9 - Effective lobbying by...

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- Now a form of workfare o To get benefits, recipients have to be working, or in job-training. o Limits on number of years benefits can be received. - State governments control many choices about benefits, eligibility. February 16, 2011 Economic Inequality and Individual Risk - Perhaps related, but different… - Economic Inequality o Growing gap between the very rich and the rest. o Modest wage growth for many - Individual Risk (is it being privatized) o Sudden loss of income o Personal bankruptcy o Dependence on self for major costs, especially retirement, health care, and education. - Why are these things happening? - Are these developments good or bad? - Can anything be done about it? If so, what? Technology changes that favor the better educated? Globalization and competition from low-wage countries?
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Unformatted text preview: Effective lobbying by corporate and financial elites. Should we do anything? What? How? -There will always be economic inequality. -With new advances comes new economic opportunity. -Higher taxes for rich people. Intensifying Social Risks -An increased incidence or likelihood of bad things happening. -Greater difficulty protecting yourself against the risks of old age, disability, unemployment, etc. Changing Pensions -In the old days, employers offered employees defined benefit pensions., which gave employees a fixed payment in retirement. -Those have gone away. -Today, employers shift toward defined contribution pensions like (401k) that have no guaranteed payments and depend on stock market....
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