Behind last week’s record-smashing $2 billion sale of the Los Angeles Dodgers sits a global economy that’s essentially enriching only the world’s super rich. A new report that tallies the latest stats on global wealth details just how incredibly far that enriching has gone.
In 2030, the latest United for a Fair Economy State of the Dream report points out, the majority of U.S. residents under 18 will be people of color. If current household wealth trends continue, the majority of America’s young people will be growing up in economically insecure households.
In this TEDxHampshireCollege talk, Chuck Collins, the director of the IPS Program on Inequality and the Common Good, discusses an economic and moral rationale for increasing taxes on the wealthy.
Another global financial analysis firm has just tallied how much net worth is sloshing around in the pockets of the world’s most spectacularly wealthy. This tally zeroes in on personal fortunes over $30 million. When will the time finally come to stop the counting — and start the taxing?
Researchers have just published a first-ever ranking of U.S. metro areas by number of super rich households they host. Residents of the top ten ultra-rich cities, the researchers seem to think, ought to be cheering. The facts suggest that residents might want to hold their applause.
Occupy Wall Street protests in lower Manhattan have struck at the heart of American corporate capitalism. What about Occupy Greenwich?
Students of modest means must pay a stiff price to build their capacity to contribute to society — and pay interest if they can’t afford that price. A wealth tax could apply this same principle to America’s rich.
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 — and each has slipped five slots in the latest edition of the Forbes 400.
If you care about the future of the republic, the health of our communities, and prospects for a new green economy, the fight over taxation and concentrated wealth is your fight.
New Census survey stats show a substantial widening in the wealth gap between white and black and white and Hispanic America. The stats also show, says the Pew Research Center, a substantial widening in the wealth gap within each major ethnic grouping.