The wealthiest 2% of Americans got $1.15 trillion richer in 2017, nearly all of it in stock market gains -- more than enough to pay for state and federal Medicaid, and all mandatory and discretionary social welfare programs nationwide.
Food stamps provide about $1.50 per meal for 42 million Americans, mostly children, the elderly, and the disabled, at a cost in 2017 of $64 billion. In the past year Jeff Bezos and Mark Zuckerberg have together accumulated over $64 billion in new wealth.
Jeff Bezos has used tax havens and high-priced lobbyists to avoid the taxes owed by his company. Mark Zuckerberg created a 'charitable' foundation, which in reality is a tax-exempt limited liability company, leaving him free to make political donations or sell his holdings, all without paying taxes. But in one year the two of them made enough from their investments to feed most of America's hungry.
America's Richest 2% Made More Money in 2017 than the Cost of the Entire Safety Net [Paul Buchheit/Commondreams]
(via Late Stage Capitalism)
The real estate bubble is in trouble: London's luxury housing market has been in freefall for years, and New York's retail vacancy has been soaring, even as global super-luxe housing is also tanking.
For years, researchers have tracked the discrepancy in average life-expectancy predicted by income equality, and, as with the wealth gap itself, this life-expectancy gap just keeps getting wider.
In the wake of the Varsity Blues college admissions scandal, a new debate opened up, about the mundane, everyday ways that wealthy people buy their way into elite institutions: from hiring, poorer, smarter kids to write their kids' essays, to surrendering custody of your kids in order to misappropriate low-income tuition grants, to simply "donating" […]
On the one hand, nostalgia is “a corruption of the historical impulse,” according to William Gibson. On the other hand, “Super Mario Bros.” will never not be cool. Luckily, there’s a way to satisfy that retro gaming while still keeping an eye on the future: The GameShell Kit. This thing is simultaneously the last handheld […]
The field of data analytics can get intimidating, even for business professionals who constantly rely on it. But at its heart, its purpose is to simplify. To take mounds of information and distill their insights into a single clear picture. Currently, the go-to software for painting that picture is Tableau. And if you want to […]
If you’re in the market for a stable, durable camera fully suited for first-person video, there’s a good chance that you’re the adventurous type. So why settle on a familiar name like GoPro? The DJI Osmo Action 4K HDR Camera checks off all the same boxes on the action cam checklist as the GoPro 4K […]