The Daily Populous

Friday December 18th, 2020 evening edition

image for 50 years of tax cuts for the rich failed to trickle down, economics study says

But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.

Per capita gross domestic product and unemployment rates were nearly identical after five years in countries that slashed taxes on the rich and in those that didn't, the study found.

But the analysis discovered one major change: The incomes of the rich grew much faster in countries where tax rates were lowered.

Instead of trickling down to the middle class, tax cuts for the rich may not accomplish much more than help the rich keep more of their riches and exacerbate income inequality, the research indicates.

Conservative think tanks such as the American Enterprise Institute pointed to Mr. Trump's tax cuts as an engine for stronger economic growth.

Even before the pandemic, income inequality had reached its highest point in 50 years, according to Census data.

Raising taxes on the rich and corporations could provide trillions of dollars in resources for helping the economic recovery, Zucman told CBS MoneyWatch. »

Ayanna Pressley Says $600 Stimulus Checks An 'Insult' As Americans Struggle

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Congresswoman Ayanna Pressley said it would be an "insult" to send Americans $600 stimulus checks after they were forced to wait months for Congress to reach a deal on a second COVID-19 relief bill.

A little under nine months after the CARES Act was passed in late March—providing millions of Americans with individual stimulus checks worth $1,200—the mooted plan to provide $600 checks this time around has been met with derision from other lawmakers.

The independent senator and his Republican colleague Sen. Josh Hawley of Missouri have pushed for Congress to provide Americans with a second round of $1,200 stimulus checks to help the U.S. economy recover from the coronavirus crash. »

Trump moved cyber security budget to pay for his wall before major hacking assault

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A former FBI deputy has alleged that President Trump has been diverting money from cybersecurity resources to build a wall at a time when the “nation is under attack”.

“Make no mistake, our nation is under attack and it appears to be ongoing,” said Mr Figliuzzi.

He also said that it’s more than merely an intelligence failure but rather “it’s a national defense failure.”. »

Childhood Intervention Can Prevent Deaths of Despair, Study Says

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Dodge is a member of the Conduct Problems Prevention Research Group that created the Fast Track program.

“We knew that the Fast Track intervention was successful at reducing aggression in childhood and reducing criminal arrests in early adulthood,” Dodge said.

Factors contributing to deaths of despair include hopelessness, cynicism, poor interpersonal skills and conflict and failure in social relationships. »

Amazon workers in bid to unionize at Alabama warehouse

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BESSEMER, Ala (AP) — Workers at an Amazon warehouse in Alabama are seeking to form a union, setting up a potential battle in the Deep South with a company that has opposed unionization efforts.

U.S. Sen. Bernie Sanders of Vermont last month tweeted his support for the Alabama workers.

“If Amazon workers in Alabama – a strong anti-union state – vote to form a union, it will be a shot heard around the world,” Sanders tweeted. »