L.A., one of America’s most unequal cities, spends at least $51 million more on Wall Street than its own streets.
How many of America’s wealthiest would be required to create a group with a total wealth of $1 trillion? The current total: just 37, down from 51 last September.
Business income sits increasingly in the hands of a few. In 1979 the top 1 percent of U.S. households took 17 percent of the nation’s business income. By 2007: 43 percent.
With unemployment high and the state budget precarious, this Baltimore Sun editorial notes, it’s a mystery why Maryland lawmakers have decided that now’s the time to give the state’s wealthiest a major tax break.
If the Comcast-Time Warner merger goes through, Time Warner CEO Bob Marcus will grab a severance windfall that amounts to over $1 million a day for the six weeks he ran Time Warner before agreeing to sell it.
The super rich will barely even feel it. But the rest of us will benefit enormously.
Elites may eventually consume too much, says the space agency, generating an environmental and social collapse.
Why we have so many struggling artists:
How the 1 percent is pushing to shove inequality off political center stage.
One seldom-discussed backdrop to instability in the Middle East: growing economic inequality. The middle class in Arab countries has shrunk from 75 percent of the population in the 1990s to 45 percent in 2010.