What’s most important—and troubling— is the decades-long, systemic expansion of the economic distance between the richest of the rich and the poorest of the poor, and the long, backward slide for the majority of those in-between.
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According to a report from Oxfam the world’s eight richest people are worth as much as the 3.6 poorest people in the world. The total of their worth is $426 billion compared to 50% of the world’s poorest at $409 billion. The billionaires included in this list are Bill Gates ($75 billion), Warren Buffett ($61 billion), and Mark Zuckerberg ($45 […]
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Percentage of U.S. stock owned by the wealthiest 10 percent of Americans: 89
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Though New York City’s waiting list for subsidized housing stands at over 300,000, the agency still has only nominal ability to evict a tenant who once qualified but subsequently became wealthier, and the latest “beneficiary” of those rules, according to a November WPIX-TV report, is a household that reported earning $497,911 in a recent year. Initially, one housing authority official […]
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