Much has been made of income inequality in the United States this election season. Income inequality exists in the United States, more so than almost any other developed nation. Around sixty years ago, America’s Gini coefficient–the best measure of income equality, where zero represents the least inequality and one the most–was .37. Today, it is .45.

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Top 5 Reasons to Repeal Obamacare
Amy Payne, Heritage Foundation

The House is scheduled to vote today on full repeal of Obamacare. Although many reports are circulating that Congress has already voted on this numerous times, this is only the second time the House will have voted to fully repeal the law.

Read more on PowerLinks – 07.11.12…

On June 29, both Houses of Congress passed, and President Obama signed, a law maintaining Stafford student loan interest rates at 3.4 percent for one more year – two days before they were scheduled to double. A number of human rights groups and religious communities have praised this development. The Jubilee USA Network, a coalition of over seventy-five churches, has been pushing for passage of this bill, and now celebrates it as a living-out of the Biblical practice of periodic forgiveness of debts. Even the organization’s use of the word “Jubilee” in its name is a reference to a practice God commanded for the Israelites in the Old Testament: “Thou shalt sanctify the fiftieth year, and shalt proclaim remission to all the inhabitants of thy land: for it is the year of jubilee,” (Leviticus 25:10). Similarly, the Catholic Church has a long tradition of periodically holding a Jubilee Year celebrating forgiveness. There’s no question that the concept of pardoning debts out of pure mercy is certainly a Judeo-Christian one. But intellectual honesty requires us to ask whether any particular event is an example of a given principle. Is maintaining the current Stafford student loan interest rate actually a Christian “jubilee” event?

The first Church-wide jubilee was proclaimed by Pope Boniface VIII on February 22, 1300, granting indulgences and remission of the penalty for sins to all the faithful who would make a pilgrimage to Rome and Saint Peter’s Basilica. As the concept of the Jubilee was gradually being developed, the details continued to change over the next hundred and fifty years (various lengths, such as 25, 33 and 100 years were proposed as the time span between Jubilees) but beginning in 1450, the Church has held Jubilees once every 50 years up to the present day, with only three omissions. Read more on Misplaced Jubilation Over Student Loans…

Last week, PowerBlogger Andrew Knot and I wrote posts about American sugar policy and farm subsidies, respectively. Now, the United States Conference of Catholic Bishops, as well as the Catholic Relief Services and National Catholic Rural Life Conference, have come out with a joint letter on the 2012 farm bill that just passed the Senate. Among other things, they urge Congress to reduce agricultural subsidies, and limiting crop insurance to small and medium sized farms.

Read more on USCCB Calls for Reductions in Agriculutral Subsidies…

Under the policies and leadership of the Obama administration, the economic lives of struggling blacks are now worse, not better, than they were three years ago. ”If the president were to give an account of his administration’s advancement of African Americans he would be hard pressed to describe anything significant beyond funneling redistributed wealth into government bureaucracies, a traditional path to the middle class for blacks,” says Anthony B. Bradley in this week’s Acton Commentary (published July 11). The full text of his essay follows. Subscribe to the free, weekly Acton News & Commentary and other publications here.

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In the current issue of Books & Culture, artist, writer, speaker, and cultural influencer Makoto Fujimura has written a review of Wisdom & Wonder: a fresh translation of the last 10 chapters of Volume 3 in the Common Grace set. Volume 1 is slated to be released in early 2013.

Fujimura begins the review expressing his indebtedness to Kuyper whose experiences cover a variety of areas reminiscent of Fujimura’s upbringing and are still very much relevant today though they were written more than a century ago:

As an artist of Christian faith with a father as a research scientist, brother as a Silicon Valley entrepreneur, mother as an educator, grandfather as a governmental official in the education department of postwar Japan (he was asked to document the aftereffects of the atomic destruction in Hiroshima two weeks after the bombing), and wife as a psychotherapist, I am indebted to Abraham Kuyper. Who else could cover the range of disciplines, as in a vast sweep of historical reflections, to integrate them and begin to make sense of the way they cohere?

One of Kuyper’s distinctives was addressing the modern day “secular vs. Christian” debate. He did not advocate for any division in areas of life in terms of their ownership. In fact, one of Kuyper’s most famous quotes is, Read more on Breathing Eden’s Air: A Review by Makoto Fujimura…

The Preacher says that God “has set eternity in the human heart” (Ecclesiastes 3:11 NIV). This is within the broader context of his discussion of the paradox of exploring the wonder of God’s creation and the vanity of human striving in a fallen world.

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Andreas Widmer joins Rev. Robert Sirico on WORLD Magazine’s best business books of 2011-2012 list with The Pope & the CEO: John Paul II’s Leadership Lessons to a Young Swiss Guard named as a top five book in business. Widmer is an Acton Research Fellow in Entrepreneurship and a 2012 Acton University lecturer. Here’s what David Bahnsen, senior vice president at a leading financial firm, had to say about Widmer’s book:

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Rev. Robert Sirico, Acton Institute president and co-founder, released Defending the Free Market: The Moral Case for a Free Economy, in late May and the book has been no stranger to critical acclaim ever since. The latest? Defending the Free Market cracks WORLD Magazine’s top five business books of the past year. Sirico’s book is critically necessary for 2012 says David Bahnsen, senior vice president at a leading financial firm:

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“The most dangerous enemies of capitalism today are capitalists,” says Timothy P. Carney. “This is becoming clearer every day to people committed to free markets.”

The conservative and libertarian grassroots came to deeply distrust big business after the Wall Street bailouts and Obama’s stimulus and health care bills, both of which had big-business backing. Tea Party ire focused on subsidy-suckling businesses as much as at big-spending politicians.

Read more on The Free-Market Case Against Big Business…