Austerity budgets are spreading everywhere, but wealth, new data show, has become more concentrated at the global economic summit than ever before. From Cairo to Palo Alto, even some conservatives are now talking wealth tax.
Despite our current global economic hard times, says a new study from banking giant Credit Suisse, the world has more than enough wealth to ensure every adult on it a significant personal net-worth nest egg.
A modest tax on all U.S. personal fortunes over $1 billion could raise more than enough revenue from the Forbes 400 alone to erase the combined budget shortfalls of every state in the nation.
Our economy would become the world’s most innovative, our elites have assured us over the past 30 years, if we gave our rich enough incentives to innovate. We kept to our end of the bargain. So where’s the innovation?
The world’s super-duper rich, in the new Forbes magazine count, total just over 1,000 — and hold more wealth than half of humanity.
The global economic collapse, says the first in-depth survey of grand fortune since last September, has left the world’s wealth just as intensely concentrated as ever.
The world’s super rich, says the latest snapshot of global wealth, have lost humungous sums over the past year. Have billionaires, as some observers claim, now ‘suffered’ their way back to the rest of us?
Our planet’s ultra-rich have padded their fortunes to new record levels. Who says? The flaming radicals at Merrill Lynch.