In recent decades, by contrast, only very affluent families — those in roughly the top 1/40th of the income distribution — have received such large raises. Yes, the upper-middle class has done better than the middle class or the poor, but the huge gaps are between the super-rich and everyone else.
The basic problem is that most families used to receive something approaching their fair share of economic growth, and they don’t anymore.
The video is here.
A few choice quotes:
“What you need to understand about the Russians is there is no ideology at all. Vladimir Putin is in the business of trying to create chaos everywhere.”
“First, since 2012 it’s emerged that Vladimir Putin was a beneficiary of the stolen $230 million that Sergei Magnitsky exposed. Recent revelations from the Panama Papers have shown that Putin’s closest childhood friend, Sergei Roldugin, a famous cellist, received $2 billion of funds from Russian oligarchs and the Russian state. It’s commonly understood that Mr. Roldugin received this money as an agent of Vladimir Putin.”
“There are approximately ten thousand officials in Russia working for Putin who are given instructions to kill, torture, kidnap, extort money from people, and seize their property. Before the Magnitsky Act, Putin could guarantee them impunity and this system of illegal wealth accumulation worked smoothly. However, after the passage of the Magnitsky Act, Putin’s guarantee disappeared. The Magnitsky Act created real consequences outside of Russia and this created a real problem for Putin and his system of kleptocracy.”
all from 07/2017
A written version, from the Atlantic:
The light Huff Po version, in part focusing on the administration’s probable attempts to distract the public from the testimony:
The similar Metro version:
What Golden found, essentially, was that Jared’s father handed Harvard (a school he did not attend) a big pile of money just as Jared was starting to apply to colleges. Around the same time, Jared’s dad got his US senator to contact another US senator to arrange a chat with Harvard’s dean of admissions.
Happily for the Kushner family, Jared was then admitted. But several officials at Jared’s high school outright told Golden that they found the choice puzzling, since his grades and academic record really didn’t seem to merit it[.]
“Comprehensive tax reform has been a long-standing priority for our network, and the election of Donald Trump, coupled with pro-freedom majorities in the House and Senate, offers us a once-in-a-generation opportunity to restore prosperity by enacting reforms,” the document, obtained by The Intercept, declares.
(In the paper edition, this article was titled “Oligarchy 2.0”.)
In the nineties, Russia’s oligarchs appropriated state assets—industrial production, mining, and oil and gas deposits—and did what they wanted with them. The oligarchs of the Putin era, on the other hand, are themselves assets of the state, administering business fiefdoms that also happen to pay handsomely. Many have a long-standing relationship with the President, and a particular sphere of responsibility. Rotenberg’s is infrastructure.
You’ve probably heard plenty of hushed whispers or outright panic about Russia’s information warfare against the West, but it’s seldom been put in context. We’re going to fix that in our deep dive into exactly how the Trump/Russia saga unfolded. This is one of the most consequential stories of our lifetime, and it’s not over, so get ready to bookmark this piece now.