The exceedingly comfortable who sit in America’s richest 1 percent have nearly fully regained the outsized share of the nation’s income they held just before the economy cratered five years ago.
Private wealth management groups continue to survey the holdings of the world’s rich. The millionaire share of world wealth, the latest data show, has jumped 14 percent since the global economic crisis began in 2007.
Luxury fortresses. Armored cars. Helicopter commutes. The abominably unequal ‘good life’ may be closer than you think. Meanwhile, in South Africa, a real push back begins.
Rising inequality, newly released data make plain, has left America’s metro areas — and neighborhoods — considerably less mixed by income. Are the rich about to bid the rest of us good-bye?
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.