Tag Archives: Income inequality

Enumerati

World’s Wealthiest Got $1 Trillion Richer in 2017

$1 trillion

Bloomberg: “The richest people on earth became $1 trillion richer in 2017, more than four times last year’s gain, as stock markets shrugged off economic, social and political divisions to reach record highs. … The 23 percent increase on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, compares with an almost 20 percent increase for both the MSCI World Index and Standard & Poor’s 500 Index.”

Poetic Justice

The Tax Plan Cometh

The hit on the rich will be nominal,
The effects on the lower brackets, abominable.
With a guy from Goldman Sachs
Rejiggering the income tax,
It’s no wonder Trump says it’ll be “phenomenal.”

Enumerati

Eight White Guys Own as Much Wealth as the Bottom Half of the World’s Population

8

Number of white men who own as much wealth as the bottom half of the world’s population,“Inequality is so stark that a small group of men own the same wealth as half the world, say campaigners ahead of the high-profile World Economic Forum in Davos,” Sky News reports. “According to research by Oxfam, the eight billionaires, including Bill Gates who tops the list, have riches equivalent to the wealth of the world’s 3.6 billion poorest people.”

News & Comment

¡Yay, Miami es Numero-Uno!

Copyright: Image by StockUnlimited
Copyright: Image by StockUnlimited
Having just dodged the first major hurricane to hit Florida in more than a decade, Miami, it would appear, has something else to celebrate. Or not.

According to Bloomberg, Miami is now the most unequal city in the United States, having leapfrogged five ranks in just a year to reach the top. Yay! We have greater income disparity than anybody!

Bloomberg ordered large cities – those with populations of at least 250,000 – based on the Gini coefficient. The index measures the distribution of household income using 2015 data from the U.S. Census Bureau’s American Community Survey. The ratio ranges from zero, which reflects absolute equality, to one, complete inequality. Miami took the top spot in 2016 with a coefficient of .58, followed by Atlanta and New Orleans.

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Enumerati

Sanders Says He’s Behind Because ‘Poor People Don’t Vote’

25

Number of states with the highest levels of income inequality. Of those, 17 have held primaries so far, and Hillary Clinton has won 16 of them, NBC News reports. When asked why he thinks he’s losing in those states, Sen. Bernie Sanders responded: “Well, because poor people don’t vote. I mean, that’s just a fact.”

Enumerati

Income Inequality Shaping Up to Be a Real Issue in 2016

6 in 10

Americans said government should do more to reduce the gap between the rich and the poor, but they split sharply along partisan lines, a new New York Times/CBS News poll finds. “Only one-third of Republicans supported a more active government role, versus eight in 10 of Democrats.”A Americans “are broadly concerned about inequality of wealth and income despite an economy that has improved by most measures, a sentiment that is already driving the 2016 presidential contest.”

Enumerati

Swiss CEOs Improved Their Golf Handicap During Global Financial Crisis

0.28

Average improvement in their golf handicaps achieved by Swiss CEOs who were golfers during the worldwide financial crisis, according to an analysis by a team at the University of Zurich of the golf handicaps of 440 top managers in Switzerland. Improving a handicap, a golfing-skill measure that ranges from 0–36, is difficult and time consuming and thus represents time away from the office. By contrast, executives who owned their businesses suffered an average annual handicap deterioration of 0.41 during the downturn, suggesting that owners were putting in more effort to deal with the crisis than CEOs were, the researchers say.

Verbatim

Issa: Our Poor Are Richer Than Their Poor

If you go to India or you go to any number of other Third World countries, you have two problems: You have greater inequality of income and wealth. You also have less opportunity for people to rise from the have not to the have.

— Rep. Darrell Issa (R-CA), the richest man in Congress, telling CNN that America has made “our poor somewhat the envy of the world.”

Verbatim

Pope Supports Pay Equality for Women

Why is it expected that women must earn less than men? No! They have the same rights. The disparity is a pure scandal.

— Pope Francis, backing equal pay for men and women who perform the same work, according to the National Catholic Reporter.

Verbatim

Sounds Like ‘Trickle Down’ to Us, Jeb

The challenge isn’t that some people are successful and some people aren’t. Taking from the successful people to provide for those that aren’t isn’t the solution. The solution is, How do you build capacity so people can achieve earned success?

— Jeb Bush, speaking after a closed meeting at the Metropolitan Republican Club on Manhattan’s Upper East Side, reports the Palm Beach Post.