Yes, the poor have struggled mightily while our rich have become phenomenally flush. But middle-income Americans haven’t been able to jump off the treadmill either.
In real life, working hard only takes you so far. Those who go all the way — to grand fortune — typically get a substantial head start. So documents an entertaining, baseball-themed new analysis of the Forbes 400.
All those official government stats on the maldistribution of wealth in the United States — and the world — vastly understate the actual extent of our contemporary inequality, says a landmark new study on tax havens.
The Federal Reserve has once again counted up America’s personal wealth — and omitted the nation’s 400 richest from the final tally. But the new figures, even with that omission, show a divide still deepening.
All those millions that America’s billionaires are pouring into super PACs, where do they come from? We can trace a huge chunk of that political cash to the truly massive tax cuts our richest now enjoy.
Behind last week’s record-smashing $2 billion sale of the Los Angeles Dodgers, a global economy that’s enriching only the world’s super rich.
Great economic cataclysms have in the past knocked the super rich off their stride. Our Great Recession’s deep pockets, stunning new income data show, are bucking the historical tide.
One puts on football pageants. Another makes mega millions on a virtual farm. They all remind us how much needs to change, economically and politically, in 2012 and beyond.
All sorts of federal agencies publish income inequality data. But only the nonpartisan Congressional Budget Office directly takes on America’s income inequality deniers.
America’s 400 richest now hold a fortune almost as large as their 2007 pre-Great Recession record. By Sam Pizzigati How swell a year have America’s 400 richest enjoyed over the past 12 months? This good: Google billionaires Sergey Brin and Larry Page each saw their personal fortunes jump by $1.7 billion over the year — [...]