Necessary for the function because it creates incentives to work hard and take risks. Left entirely to his own, the market system will produce more inequality in this economically necessary. Here in our country, we have much more inequality than is necessary for efficiency. I believe this is a moral problem from the standpoint of social equity. But excessive inequality not only undermines social and political cohesion, it is also recently been shown to have negative effects on growth and stability as well. Recent research at the imf has shown that excessive inequality slows growth, costa pricetoearnings gemelli to weaker demand and lower section. Reducing inequality is increasingly understood to contribute to Economic Growth. Inequality is also a political problem. We now have an increasing degree of resistance on the part of Many Americans to new trade agreements because they see themselves as the dems of globalization resident as participants benefit. I believe our International Econ
The president to work with our congress now. Our nation decuves better. I now yield six minutes to the Ranking Member for her opening statement. I want to thank the chairman for holding this hearing and im delighted to welcome you secretary to our committee to testify today. I would like to discuss what i believe to be one of the biggest social economic and political challenges we face today both domestically and internationally and that is the problem of growing inquality. Over the past 30 years income and equality in the United States has been steadily increasing. This was the case even during periods of growth. Before the financial crisis levels of inequality in the United States reached peeks not seen since the late 1920s. While other committees have also experienced rising income inequality, the most shocking shortcomings are right here in the United States which has the highest level of inequality of any advanced industrial nation. In fact today 20 of the income in our country go
Employers were choosing to buy up until now. When i was an employer, you said it was done on a statebystate basis, they carry all of these outlying coverages. The essential Health Benefits. Not a state by state requirement the national requirement. And what is offered . What is in each plan, was done on a statebystate basis. Categories of the essential Health Benefits are mandatory. Some states dont have Mental Health coverage and some do. The particular benefits, fundaMental Health coverage. All right. You are telling me my old law firm, 15 employees, they will not be able to find a plan that is offered, if required federal benefits. Mentalhealth and Substance Abuse and maternity. 60yearold carrying maternity coverage. Spreading the cost of maternity coverage to women across the entire pool of people. That is how insurance works, you just paid for what you need, spread the costs across everyone. You choose to go by the coverage you need and spread the risk among the other people who n
Like to submit his letter for the record. And i will make this part of a question for the record that i would to a followup. Without objection so ordered. Ranking member . One is for my constituents in piscataway, anthony weill, that i referenced. Another is the one that ms. Schakowsky reference. You know, these are the different individuals impacted by the aca. Without objection spent and then a third one from ms. Schakowsky. Without objection, so ordered. Thank you, madam secretary, for your patience, for respond to all of our questions. I remind members they have 10 Business Days to submit questions for the record, and that means they should submit the question by the close of business on tuesday, december 31. Another important hearing. Thank you, madam secretary, for your indulgence. Wi [captions Copyright National cable satellite corp. 2013] [captioning performed by national captioning institute] the house passed an agreement on the 2014 budget. The Senate Returns today at 1 00 ea
IDA21 risks setting a very unfortunate precedent by sharply reducing the scale and scope of its policy commitments on gender. Shareholders need to seize the moment to ensure that this does not happen.