Is Corporate Wealth Costing American Jobs?
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The gap between the rich and the poor is growing so fast both Republicans and Democrats see a long-term threat to the economy. Are the policies of Big Government part of the problem? Is the Obama Administration making things worse? Also, North Korea threatens strikes as the UN imposes new sanctions, and researchers put a price tag on gun violence.
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Making News
North Korea Threatens Strikes as UN Imposes New Sanctions ()
The UN Security Council has unanimously approved new sanctions on North Korea, despite its threat of nuclear retaliation against the United States. Even China, North Korea's principal ally, helped the US draft the resolution. Colum Lynch covers the UN for the Washington Post.
Guests:
- Colum Lynch: Washington Post, @columlynch
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Main Topic
Is Economic Recovery Increasing Economic Inequality? ()
Today's Dow Jones Industrial Average jumped over yesterday's record high. It's a "golden age" for corporate profits, which are the largest share of the economy since 1950. But the portion that goes to employees is close to the lowest since 1966. Both liberal and conservative economists are worried because the gap between the rich and the poor is growing so fast. The gap is also alarming Democrats — and some Republicans. Eighty-five billion dollars in federal sequestration could increase unemployment by 700,000 jobs without making a dent in the markets or corporate earnings. How much is the Obama Administration to blame? Is there a potential fix that might appeal to partisans on both sides?
Guests:
- Nelson Schwartz: New York Times, @NelsonSchwartz
- Sheila Bair: Federal Deposit Insurance Corporation
- Tom Donlan: Barron's, @barronsonline
- Katrina vanden Heuvel: The Nation, @KatrinaNation
Links:
- Schwartz on the US recovery, lifting profits but not adding jobs
- Bair on Republicans and the income gap
- Bair's 'Bull by the Horns: Fighting to Save Main Street from Wall Street and Wall Street From Itself'
- Vanden Heuvel on taxing financial transactions
- Wall Street Trading and Speculators Tax Act (S 410)
Reporter's Notebook
Calculating the Financial Costs of Gun Shootings ()
A new report puts a price tag on gun violence: $12 billion a year, including $1.4 billion to US taxpayers -- for Medicare and Medicaid payments to treat victims in emergency rooms. The Senate Judiciary Committee today began debate on gun safety proposals in the wake of the Sandy Hook massacre. Chairman Patrick Leahy, Democrat of Vermont, held up a piece from yesterday's USA Today on how gunshot wounds are driving up the cost of health care. We hear from Kelly Kennedy, who wrote the story, and from RAND analyst and former emergency room physician Art Kellermann.
Guests:
- Kelly Kennedy: USA Today, @KellySkennedy
- Art Kellermann: RAND Corporation, @ArtKellermannMD
Links:
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