Tag Archives: Income Inquality

News & Comment

Why Bill de Blasio Doesn’t Care, Is Driving Cadillacs in His Dreams

Much is being made of Bill de Blasio’s recent mayoral win in New York City, with the Washington Post even calling it “historic,” since he will be the first Democrat to serve in that office since David Dinkins won in 1989.

It’s not just worth nothing that de Blasio won, but how. De Blasio focused on income inequality in NYC, or what he called “two cities,” one rich and one poor, much the way the ultimately disappointing Sen. John Edwards talked about two Americas.

As Marketplace’s Sabri Ben-Achour noted:

According to the Census Bureau, income inequality in the New York City region is higher than any other major metropolitan region in the country. So taking the whole city, Brooklyn to the Bronx, if you are in the bottom 20 percent in New York your income, on average, is about $9,000 a year. If you’re in the top 20 percent you make, on average, $223,000 a year. So otherwise, put [that] the top 20 percent of the population makes about 25 times what the bottom 20 percent makes.

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News & Comment

Struggling to Understand How Rich Mitt Romney Is

Romney and his fellow Bain Capitalists

It’s hard for most of us to imagine being worth a few million dollars. That’s serious greenbacks, putting us beyond worry and squarely in the land of comfort. But if we were Mitt Romney, who is worth a quarter-BILLION dollars, that would be chump change.

And while all the presidential candidates are in that comfortable, worry-free zone, Romney’s wealth, according to a fascinating piece of research in the Tampa Bay Times, blocks out the sun.

Romney refuses to say how much, if anything, he pays in income taxes

For every $100 personally owned by Romney, President Obama has $4.20, Newt Gingrich has $2.70 and Ron Paul has $2. And Rick Santorum, closely trailing a victorious Romney in last week’s Iowa caucus, has but a single buck.

But wait, there’s more.

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