The article "Rush Limbaugh falls for Wikipedia hoax" provides further evidence that Wikipedia is an unreliable source for academic research. Information on Wikipedia can be false and unreliable.
In June 2013, President Obama acknowledged that inequality is on the rise "even though the economy is growing." That growth hasn't helped many people who lost mid-wage jobs during the recession. Half of the U.S. population is now considered poor or low-income, and income has been redistributed from the middle class to the very rich faster under Obama than under George W. Bush. Income inequality in the U.S. is much worse than it is in other industrialized countries, where it is also an alarming problem, according to a new report from the International Labour Organization. The gap is only getting wider as the median wage continues to fall. http://www.huffingtonpost.com/2013/06/12/inequality-us-_n_3421381.html
In "The Lottery Mentality," a 2011 editorial in The New York Times , Chrystia Freeland explains that "Americans are mistaken about income inequality because of national self-confidence and the lottery effect." http://www.nytimes.com/roomfordebate/2011/03/21/rising-wealth-inequality-should-we-care/the-lottery-mentality Americans actually live in Russia, although they think they live in Sweden. And they would like to live on a kibbutz. This isn’t the set-up for some sort of politically incorrect Catskills stand-up joke circa 1960. It is the takeaway from a remarkable study by Michael Norton and Dan Ariely on how Americans think about income inequality. The right likes to argue that income inequality as an issue doesn’t win elections because Americans don’t begrudge the rich so much as they want to join them. The Norton and Ariely study suggests otherwise. Given a choice, the authors find, Americans would prefer to live in a society more equal than even highly egalitar...
Recent surveys suggest that U.S. citizens are increasingly dissatisfied with President Obama's leadership, primarily because unemployment remains high. What people fail to realize, however, is that economic recovery frequently takes time, regardless of the actions taken by political leaders. Billionaire Warren Buffett understands this and conveyed his feelings to the President. Political leaders frequently receive too much blame for poor economic performance and too much credit for prosperity. A better understanding of the sources of economic growth might make public perceptions more accurate. In the July 16 Reuters article " Buffett warns Obama U.S. economy only halfway back ," Alister Bull summarizes Buffett's claim that the economic recovery will take time, regardless of the country's leadership. WASHINGTON (Reuters) – President Barack Obama heard a sobering message from Warren Buffett when he asked for the investment guru's views about the economic reco...
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